Globe Residency REIT
PPSX:GRR16.83
PKR
-0.11
(-0.65%)
ISIN
PK0099001056
Return %
Stock
S&P 500
1Y
-13.65
14.20
3Y
38.86
81.12
5Y
- -
68.34
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.Company Description
- CEO
- Muhammad Ejaz
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- Karachi Pakistan
- IPO Date
- Dec 28, 2022
- Website
- arifhabibdolmenreit.com
- Similar Companies
- Business
- Globe Residency REIT is a Pakistan-based closed-end developmental real estate investment trust scheme primarily engaged in the development, construction, marketing, and sale of residential real estate assets. Managed by Arif Habib Dolmen REIT Management Limited, with Central Depository Company of Pakistan Limited serving as trustee, the trust operates within the real estate development and asset management sectors, focusing on the execution of the Globe Residency Apartments project situated in Naya Nazimabad, Karachi. The trust offers a comprehensive range of developmental real estate products and asset management services, which include the development and construction of multi-story residential apartment towers; the sale and marketing of diverse residential unit types, comprising two-bedroom standard, two-bedroom executive, and three-bedroom luxury apartments; structured customer installment and payment scheduling plans; architectural and structural engineering management; infrastructural integration, including multi-level vehicle parking facilities, high-speed elevators, dedicated utility connections, backup power generation, and 24/7 security surveillance systems; community facility development; and property handover and title transfer administration. Headquartered in Karachi, Pakistan, the REIT was established in 2022 and primarily serves domestic homebuyers, institutional investors, and overseas Pakistani retail investors. In recent operational developments, Globe Residency REIT has achieved advanced structural milestones across its nine residential towers, progressing grey structure works and initiating interior finishing and exterior facade developments. The trust has maintained steady sales collections and revenue recognition under installment milestones, resulting in periodic cash dividend distributions to unit holders. Furthermore, the management company has upgraded its digital investor relations reporting systems and reinforced contractor collaborations to ensure adherence to project delivery schedules and Securities and Exchange Commission of Pakistan regulatory standards.