REIT launched
July 08, 2022 | The News
Karachi: JS Investments, Pakistan’s oldest private sector asset management company and a subsidiary of JS Bank, has launched their first Real Estate Investment Trust (REIT) fund called JS Rental REIT.
Real estate is one of the most preferred investment vehicles in Pakistan. However, the sheer size of the upfront capital requirement renders the vast majority incapable of investing in this asset class.
JSIL aims to launch a series of rental and hybrid REIT funds making real estate a more affordable and accessible investment avenue. JS Rental REIT seeks long-term growth in the Net Asset Value and dividend distribution for its Unitholders through investing in a portfolio of commercial real estate assets & generating rental income.
The JS Rental REIT Scheme will be anchored by The Centre – a 22-story commercial establishment located in the Saddar area of Karachi. The REIT will own the leasehold of multiple floors belonging to The Centre and accordingly generate a rental yield.
The Centre is a prime commercial office building located on the corner of Abdullah Haroon Road. The project location is in close proximity to all major hotels in the city and I.I. Chundrigar Road, the financial district of Karachi. The site has a land area of 3,988 sq. yds. and offers a shopping arcade on the lower floors, secured parking, and ample office space on the upper floors.