Citi Pharma enters REIT space

February 26, 2026 (MLN): Citi Pharma Limited (CPHL) has taken a strategic step into Pakistan’s real estate sector, as the Securities and Exchange Commission of Pakistan (SECP) has granted approval for the reservation of the name CITI REIT Management Company Limited.

The entity will operate as a wholly owned subsidiary of Citi Pharma.

The approval reflects the company’s plan to establish a Real Estate Investment Trust (REIT).

This move is aimed at diversifying its business portfolio and tapping into Pakistan’s growing real estate and capital markets.

Citi Pharma plans to now formally incorporate the REIT management company and begin the regulatory process for the REIT’s registration and launch, pending all necessary approvals and licenses.

Under the planned structure, Citi Pharma will undertake three major real estate development projects.

The first is slated for Hali Road in Lahore, followed by a project on the company’s land at Khayaban-e-Zafar, Lahore, and a third near Islamabad International Airport.

Subject to regulatory clearance and adherence to development timelines, completion of these projects is targeted by the end of the first quarter of the 2026-2027 financial year.

Citi Pharma will contribute land valued at approximately PKR 7 billion to its REIT management subsidiary.

The company expects to progressively realize the value of its land investment as each project commences.

Beyond the land contribution, Citi Pharma will also be entitled to a proportionate share of annual dividends from the REIT, providing ongoing returns for shareholders.

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