Naya Nazimabad REIT fully subscribed within first hour

Demand for the book-building tranche of Naya Nazimabad Apartment REIT (NNAR) was fully covered within the opening hour, Mettis Global reported. The response reflected strong interest from institutional and high-net-worth investors.

NNAR is making an offer for sale of 44.06 million units, amounting to 15% of the Scheme, before its planned PSX listing. Of that amount, 33.05m units (75%) are set aside for book-building, while the remaining 25% will go to retail buyers at a strike price set through that exercise. The two-day window opened on September 1 and runs through September 2.

Each unit has a range of Rs18 to Rs23, which puts the total offer value at roughly Rs793 million to Rs1.013 billion depending on the strike price. The REIT is a closed-end, Shariah-compliant developmental scheme managed by Arif Habib Dolmen REIT Management Limited, with three portfolios in Karachi and Lahore assessed at about Rs20.46 billion as of April 2026. After book-building, 11.02m units will be offered to retail investors.