The book building portion of the Naya Nazimabad Apartment REIT was fully subscribed within the first hour of bidding on Tuesday, signaling strong demand from institutional and high net worth investors for the real estate investment offering.
The two day book building process began on September 1 and will continue through September 2. Naya Nazimabad Apartment REIT is offering 44.06 million units, representing 15 percent of the scheme, through an offer for sale ahead of its planned listing on the Pakistan Stock Exchange.
Of the total offering, 33.05 million units, or 75 percent, have been allocated to institutional and high net worth investors through the book building process. The remaining 25 percent, equal to 11.02 million units, will be offered to the general public at the strike price determined through book building.
The units have been offered within a price band of Rs. 18 to Rs. 23 per unit. Depending on the final strike price, the total value of the offering will range from approximately Rs. 793 million to Rs. 1.013 billion.
Naya Nazimabad Apartment REIT is a closed end, Shariah compliant developmental REIT managed by Arif Habib Dolmen REIT Management Limited. The scheme holds three real estate portfolios across Karachi and Lahore with a combined assessed value of approximately Rs. 20.46 billion as of April 2026.
The strong response in the opening hour points to growing investor interest in professionally managed, asset backed real estate investment products. Following the completion of book building, the 11.02 million units reserved for the general public will provide retail investors with an opportunity to participate in the scheme.
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