Image REIT—a Shariah-compliant, perpetual hybrid real estate investment trust managed by Sinolink REIT Management Company—will soon debut on the Pakistan Stock Exchange, debuting a landmark IPO with a target fund size of Rs 2,750 million.
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Currently valued at Rs 1,830 million, the REIT plans to raise an additional Rs 920 million through a book-built IPO. The offering includes 92,015,467 units, representing 33.36% of the post-IPO paid-up scheme. The pricing structure begins with a floor price of Rs 10 per unit, with an allowance of up to 40% upside, potentially reaching Rs 14 per unit. A quarter of the issue will be allocated to retail investors at the strike price established during the book-building process.
Image REIT’s holdings include two prime Karachi properties: a fully occupied 8‑floor commercial building on Shahrah‑e‑Faisal generating steady rental income, and an upcoming residential-cum-commercial development on Tipu Sultan Road poised for both rental and sales yield. IPO proceeds will fund the completion and marketing of 11 additional residential floors under the developmental REIT format.
By providing retail and institutional investors access to professionally managed real estate exposure, Image REIT is setting a new benchmark for portfolio diversification in Pakistan—marrying ethical compliance with attractive yield potential in a structured capital markets vehicle.
