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REIT playing vital role to strengthen economy: RCCI

REIT playing vital role to strengthen economy: RCCI

RAWALPINDI: The Real Estate Investment Trust (REIT) has a vital role to the economy and the investment landscape in Pakistan with the opportunity to benefit from large, diversified holdings of real estate.

Since their inception, REITs have helped many countries including U.S. achieve important economic and social goals.

In a statement, Acting President Rawalpindi Chamber of Commerce and Industry (RCCI) Muhammad Badar Haroon said that due to lack of awareness people are hesitant in investing through REIT. He urged Government to facilitate and provide incentives to stock market being the key pillar of economy.

He also felicitated newly elected Chairman Governing Board, Zahid Latif Khan on ISE REIT. He expressed hope that new chairman will lead the organization to the next level and contribute towards betterment of the economy. It is noted that Zahid Latif Khan also served as former president of RCCI.

Just to acquaint, ISE Towers REIT Management Company Limited formerly known as Islamabad Stock Exchange Limited was established as Non Banking Financial Company (NBFC) in January 2016 upon merger of three stock exchanges.