Naya Nazimabad REIT SECP Approves Public Offering for PSX Listing

The Securities and Exchange Commission of Pakistan (SECP) has approved the public offering of Naya Nazimabad REIT, paving the way for its listing on the Pakistan Stock Exchange (PSX).

The Naya Nazimabad Apartments REIT (NNAR) offering reflects continued activity in Pakistan’s primary capital market. The SECP has now approved 13 public offerings in 2026.

Businesses from several sectors are turning to the stock market for growth capital. These sectors include manufacturing, technology, energy, food, agriculture and real estate.

Public Offering Details

NNAR will offer 44.06 million units to investors. The units represent 15% of the REIT scheme’s total units.

The offering will use the book-building mechanism. Institutional investors and high-net-worth individuals will receive 75% of the offer.

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Meanwhile, retail investors will receive the remaining 25%. This structure will give individual investors a greater opportunity to participate in the offering.

Naya Nazimabad REIT Structure

NNAR operates as a closed-end Developmental REIT under the Real Estate Investment Trust Regulations, 2022.

The scheme aims to develop acquired real estate into commercial, retail and residential properties. Investors will earn returns through the sale of completed properties.

Pakistan currently has 29 registered REIT schemes. Of these, six already have listings on the PSX.

Once NNAR joins the exchange, Pakistan will have seven listed REITs. As a result, investors will gain another regulated route to participate in the real estate sector.

SECP Highlights Capital Market Growth

SECP Chairman Dr. Kabir Ahmed Sidhu said the rising number of public offerings shows greater use of the capital market for business financing and investment.

He said a strong primary market can direct savings towards productive investment. It can also give businesses alternative sources of long-term financing.

Furthermore, Sidhu said the SECP continues to reduce the time and cost of raising capital. The regulator also aims to improve transparency and price discovery.

The SECP is also working to expand participation among both issuers and investors. Therefore, the approval of NNAR adds another development to Pakistan’s growing capital market.

The listing will also strengthen the role of REITs as a regulated investment option. At the same time, it will give the real estate sector another channel to attract investment through the stock market.