Globe Residency, Pakistan’s first Development REIT Declares Cash Dividend of PKR 3 per Unit

Globe-Residency-Pakistans-first-Development-REIT-Declares-Cash-Dividend-of-PKR-3-per-Unit

Karachi: Globe Residency REIT (GRR), the country’s first listed Developmental Real Estate Investment Trust (REIT), has announced a cash dividend of PKR 3 per unit, representing 30% of the unit’s value, for the fiscal year ending June 30, 2023.

GRR, a closed-ended, Developmental REIT, was listed in December last year, offering investors the opportunity to participate in the ownership of Globe Residency Apartments. This project consists of 1,344 apartments spread across 9 towers being constructed at Naya Nazimabad in Karachi, a project developed by Javedan Corporation Limited.

Located in Naya Nazimabad, an integrated housing scheme, GRR focuses on community living. It is the largest master-planned, gated residential development in Karachi and is set to accommodate over 50,000 families upon its completion. The project offers meticulously integrated amenities that cater to contemporary lifestyles, providing residents with conveniently accessible facilities.

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