Ahmed & Qazi

A&Q advises on first listed developmental REIT in Pakistan

Acted as project legal counsel for the Globe Residency REIT Scheme launched by Arif Habib Dolmen REIT Management Limited with a project value over PKR 20 billion.

Over the past few months, extensive work has been done by all teams involved as a result of which the REIT Scheme has now been registered, the trust structure has been set up, the land has been transferred to the trustee, the contracts for initial issuance of REIT units to Javedan Corporation Limited have been signed and countless other steps and requirements have been meticulously fulfilled.

We are now swiftly proceeding towards listing which would make the Globe Residency REIT Scheme the first ever developmental REIT and the second REIT scheme to ever be listed on the PSX in the history of Pakistan.

The transaction was led by Nazif Ahmed (Head — Corporate), who were assisted by Altan Ahmed (Senior Associate) and various other associates and paralegals at the firm.