Naya Nazimabad Apartment REIT gong ceremony set for Oct 1 at PSX

September 30, 2026 (MLN): A gong ceremony to commemorate the strong public response to the Naya Nazimabad Apartment REIT will be held at the Trading Hall of the Pakistan Stock Exchange (PSX) on Thursday, October 1, 2026.

The ceremony has been hosted by Arif Habib, with the event scheduled for 9:00 a.m. at the PSX Trading Hall in Karachi, according to the media invitation.

Prime Minister Mian Muhammad Shehbaz Sharif has consented to attend the ceremony virtually as the Chief Guest, while Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb is scheduled to attend in person as the Guest of Honour.

The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, and Chairman of the Securities and Exchange Commission of Pakistan (SECP), Dr Kabir Ahmed Sidhu, are also scheduled to attend the event in person. Both currently hold the respective offices.

The ceremony comes shortly after Naya Nazimabad Apartment REIT completed its public offering and commenced trading on the PSX Main Board.

According to PSX data, the REIT's listing application was filed on May 8, 2026, and its listing was approved by both PSX and SECP. SECP approved the offering in August, while the book-building process was conducted on September 1–2, followed by public subscription on September 7–8, 2026. The REIT was subsequently listed on the PSX on September 17, 2026. 

Strong demand during book building

The offering attracted substantial demand during the book-building phase. A total of 292 investors participated, with 249 investors receiving successful allocations.

Bids worth around Rs4.551 billion were received against a book-building issue size of approximately Rs595 million. The strike price was determined at Rs23 per unit, the upper end of the offered price range.

High Net Worth Individuals received the largest allocation at 14.90 million units, followed by mutual funds with 9.16 million units. Other allocations went to commercial banks, insurance companies, employee provident and pension funds, TREC holders and other institutions and corporates.

The strong book-building response was followed by public subscription, with market reports indicating that the retail portion also attracted demand several times the number of units available. 

15% of REIT units offered to public

The public offering comprised 44.0625 million units, representing 15% of the total units of the REIT scheme, according to SECP's approval of the offering.

Naya Nazimabad Apartment REIT is a closed-end developmental REIT scheme established to develop residential apartments and generate returns for unit holders. PSX records show that the scheme was established through a trust deed dated June 24, 2022, between Arif Habib Dolmen REIT Management Limited, the REIT Management Company, and Central Depository Company of Pakistan Limited, the trustee. 

The scheme is focused on development around Naya Nazimabad, Karachi, while PSX disclosures also describe associated assets and activities linked to the scheme in Lahore.

Following the completion of the offering, Naya Nazimabad Apartment REIT began trading on the PSX Main Board on September 17, 2026, under the symbol NNAR.

The opening price was set at Rs23 per unit, corresponding to the book-building strike price. PSX data showed 293.75 million total units in issue, including a 15% free float of 44.0625 million units.

The October 1 gong ceremony therefore marks the formal market event following the completion of the REIT's public offering and listing process, bringing together representatives from the government, financial regulators, the central bank, PSX and the sponsors behind the offering.

The event is expected to highlight the response from investors to the REIT structure and its debut as a listed real-estate investment vehicle on Pakistan's capital market.