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KARACHI: According to reports, Pakistan’s fashion brand Image is set to launch a real estate investment trust (REIT) next month, targeting two of its properties in Karachi. The REIT will offer 92 million shares priced Rs10 lower than their net asset value, as stated by Mohammed Sohail, CEO of Topline Securities.
Topline Securities, in collaboration with Growth Securities, will jointly advise on the transaction. This move comes in response to a recent spike in Karachi’s real estate market, following a prolonged period of stagnation, as highlighted by Zameen.com.
Known for its expertise in textile manufacturing and fashion retail, Image operates around 14 outlets across Pakistan and has an online presence in international markets, including the US and the UAE. The newly proposed real estate trust will operate independently from the listed entity, Image Pakistan Ltd.
The introduction of this real estate trust reflects Image’s strategic expansion into the property sector, leveraging Karachi’s recovering real estate market to attract investors. By offering shares below their net asset value, the brand aims to make the investment appealing and accessible, signaling a promising venture into the real estate investment landscape.
