Naya Nazimabad Apartments REIT book building oversubscribed 8x

Naya Nazimabad Apartments REIT drew total bids of about Rs4.5 billion during its book-building phase, with the offer oversubscribed 8 times, according to Mettis Global. The issue was priced at its upper ceiling of Rs23 per unit, which is 28% above the floor price. The exercise raised Rs1 billion in equity for the REIT.

The public portion, which makes up 25% of the offer, is scheduled for subscription on September 7 and 8, 2026. The remaining 75% was handled through book-building. Mettis Global described the result as a milestone for the REIT and a sign of rising interest in Pakistan's REIT market.

The REIT is managed by Arif Habib Dolmen REIT Management Limited, and Arif Habib Limited is the lead manager. Shahid Ali Habib, CEO of Arif Habib Limited, said the 8 times oversubscription and demand at the ceiling price were encouraging. He added that the outcome supported his belief in the potential of carefully designed property investment products.