Naya Nazimabad REIT fully subscribed within first hour

September 01, 2026 (MLN): The book-building portion of Naya Nazimabad Apartment REIT (NNAR) was fully subscribed within the first hour of bidding, attracting strong interest from institutional and high-net-worth investors.

The two-day book-building process began on September 1 and will continue through September 2. NNAR is offering 44.06 million units, equivalent to 15% of the Scheme, through an Offer for Sale ahead of its proposed listing on the Pakistan Stock Exchange.

Of the total offer, 33.05m units, representing 75%, have been allocated to the book-building portion, while the remaining 25% will be offered to the general public at the strike price determined through the book-building process.

The units are being offered within a price band of Rs18 to Rs23 per unit, translating into an overall offer value of approximately Rs793m to Rs1.013bn, depending on the final strike price.

NNAR is a closed-end, Shariah-compliant developmental REIT managed by Arif Habib Dolmen REIT Management Limited.

The Scheme comprises three real estate portfolios across Karachi and Lahore, with a cumulative assessed value of approximately Rs20.46 billion as of April 2026.

Following completion of the book-building process, 11.02m units will be offered to the general public, providing retail investors an opportunity to participate in the Scheme.

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