The SB Global RMC has entered into an agreement with DHA Lahore to introduce an eco-friendly construction project in Pakistan that will conserve energy and resolve energy crisis in the construction sector. The project will be run under Islamic development REIT (Real Estate Investment Trusts).
The agreement was signed in a function held at the DHA Headquarters in Lahore attended by DHA Administrator Brigadier Waheed Gul Satti, Director Colonel (retd) Irfan Hanif, Director Legal Colonel (retd) Zafar Iqbal, Director Planning Col (retd) Iqbal, and SB Global’s Sakib Berjees, Ali Aslam Malik, Mian Ali Ashfaq, Imran Bashir, Ali Bukhari, Wasim Arshad, and others.
The project will bring in international award winning architectural real estate consultants, world class and modern architecture as well as foreign direct investment in Pakistan and help solve construction problems in Pakistan.
The DHA and SB Global representatives assured full cooperation to each other in the completion of this unique project and expressed their best wishes and reiterated their commitment to complete this project on priority basis.
WHAT IS REIT: A Real Estate Investment Trust (REIT) is a company that owns, operates or finances income-producing real estate. REITs provide an investment opportunity, like a mutual fund, that makes it possible for everyday Americans — not just Wall Street, banks, and hedge funds — to benefit from valuable real estate, present the opportunity to access dividend-based income and total returns, and help communities grow, thrive, and revitalize.
REITs allow anyone to invest in portfolios of real estate assets the same way they invest in other industries – through the purchase of individual company stock or through a mutual fund or exchange traded fund (ETF). The stockholders of a REIT earn a share of the income produced – without actually having to go out and buy, manage or finance property. Approximately 145 million Americans live in households invested in REITs through their 401(k), IRAs, pension plans, and other investment funds.
SB GLOBAL RMC: The SB Global REIT Management Company Limited was incorporated in March 2016 and is the first REIT management company be based in Lahore. The sponsors of SB Global RMC have entered into this business with a vision to develop REITs as an investment vehicle in Pakistan to unlock untapped potential of real estate market in the country. REITs have been a highly successful model globally allowing investors which include retail and high net worth individuals as well as institutional with access to real estate investments.