Globe Residency REIT raises PKR 388 million
Karachi : Javedan Corporation Limited has received a subscription of PKR 387,945,000 from the general public through a two-day offer for sale process. The offer for sale was over-subscribed by 2.77 times.
GRR is a closed ended, Developmental REIT Scheme with a limited life of 48 months offering investors the opportunity to become an investor in the Globe Residency apartments project at Naya Nazimabad. 14 million units, which make up 10% of the total units of the REIT Scheme were offered by Javedan Corporation Limited to the General Public at a price of PKR 10 per unit.
The REIT fund size is PKR 2.8 billion; PKR 1.4 billion each of Debt and Equity and the project cost is estimated at PKR 20 billion.
Read More:
MMBL Partners with Quwat, Industrus to offer Digital Solutions for B2B
Crypto assets can generate over $100 billion in Pakistan by the next 20 years
IoBM Celebrates 25th Annual Convocation; 1374 Degrees Awarded
Related posts:
SBP enhances agriculture credit limits to meet farmers input requirements
Sarsabz Pakistan mobile app claims fastest growth within the agri-sector
U.S. Embassy Partners and U.S-Pakistan Women's Council to Launch Pakistan Future of Women and Work I...
Faysal Bank & Naheed Pakistan partners to bring the Grocery on Installments to all Faysal Islami Noo...
