Ahmed & Qazi

A&Q advises on first SPV REIT scheme under new regulatory framework

We are pleased to announce that we are acting as project legal counsel in Sky Garden, a multibillion rupee developmental REIT being set up through the Special Purpose Vehicle (SPV) structure. This REIT is set to be the first SPV REIT to be established under the REIT Regulations 2022, marking a milestone achievement in the REIT landscape of Pakistan.

Furthermore, instead of the typical method of incorporation of a new company, in Sky Garden, the SPV will be an existing company whose shareholding will be acquired by the trustee from third parties.

Our team on this matter is led by Saim Hashmi (Senior Counsel) and comprises Altan Ahmed (Senior Associate), Rehan Qadeer (Associate), Amber Patel (Associate) and Laiba Saeed (Associate) along with various other associates at the firm.