Globe Residency REIT (GRR) is Pakistan’s first developmental Real Estate Investment Trust, providing regulated, transparent access to residential real estate investments. Managed by Arif Habib Dolmen REIT Management, GRR is developing nine residential towers in Naya Nazimabad, Karachi, consisting of 1,344 apartments.
Launched in December 2022 on the Pakistan Stock Exchange (PSX), GRR is a preferred investment option for those seeking long-term real estate returns through a professionally managed and SECP-regulated structure.
Project Overview
| Feature | Details |
|---|---|
| Location | Naya Nazimabad, Karachi |
| Project Size | 9 Residential Towers (1,344 Apartments) |
| Development Status | 68% Completed (as of mid-2024) |
| Management Company | Arif Habib Dolmen REIT Management |
| Trustee | Central Depository Company (CDC) |
| Financing Partner | Meezan Bank (Musharakah-based financing) |
Read More: SECP Warns Public Against Fraudulent Real Estate Investment Schemes Promising High Returns
Financial Performance Summary
Key Metrics (FY 2023 – FY 2025)
| Fiscal Year | Revenue | Net Profit | EPS (PKR) | Dividend/Unit | NAV/Unit | Return |
|---|---|---|---|---|---|---|
| FY 2023 | PKR 2.85 B | PKR 271 M | 1.93 | 3.00 | 10.90 | ~48% |
| FY 2024 | PKR 2.52 B | PKR 252 M | 1.80 | 1.75 | 12.05 | ~58% |
| FY 2025 | PKR 2.58 B | PKR 286 M | 2.05 | 1.75 (est.) | 12.80* | ~60–65%* |
*Figures are based on trailing twelve months (TTM) and estimates from Q3 FY25.
Balance Sheet Highlights (March 2025)
| Metric | Value (PKR) |
|---|---|
| Total Assets | 5.42 Billion |
| Total Liabilities | 3.71 Billion |
| Equity | 1.71 Billion |
| Cash Reserves | 264.6 Million |
| Debt-to-Equity | Approx. 147% |
FY 2026 Outlook
Revenue Growth: With tower completions expected, sales and cash inflows are likely to rise in FY 2026.
Dividend Stability: Dividend payouts may increase if project sales accelerate and cash flows remain healthy.
Debt Reduction: As construction finalizes and payments are received, the current debt-to-equity ratio is expected to improve.
Market Performance: GRR units are trading between PKR 16–17, up from the initial price of PKR 10 per unit, indicating strong investor confidence.
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Why GRR Is a Strong Investment Choice
| Strength | Explanation |
|---|---|
| Regulated Structure | Listed on PSX and overseen by SECP and CDC |
| Consistent Performance | EPS and NAV growth over multiple years |
| High Demand Housing Project | Located in a rapidly developing area |
| Shariah-Compliant Financing | Structured under Islamic finance principles |
| Transparency and Governance | Audited by A.F. Ferguson & Co. |
Risks to Consider
- Construction Timeline Risk: Delays could affect revenue realization.
- Dividend Variability: Distributions depend on unit sales and project progress.
- High Leverage: Elevated debt levels may remain until full project delivery.
- Liquidity: PSX-listed REITs have limited market trading compared to stocks.
Community Insights
Investor forums, such as r/FIREPakistan, have praised GRR for its regulated nature and transparency compared to unregistered fractional property schemes.
“REITs like GRR offer legal protections, verified custody via CDC, and genuine real estate exposure, unlike speculative platforms.”
Conclusion
Globe Residency REIT has demonstrated consistent financial growth, strong governance, and promising future prospects. As it moves toward completing its real estate development in Naya Nazimabad, GRR stands out as one of the most reliable real estate investment vehicles in Pakistan. With increasing returns, transparency, and dividend potential, it remains a strong consideration for investors seeking long-term, secure exposure to Pakistan’s residential real estate market. Stay tuned with Bloom Pakistan.
