IMAGE REIT Launches Rs920 Million IPO at Pakistan Stock Exchange

Karachi, Pakistan — IMAGE, a Shariah-compliant Real Estate Investment Trust (REIT), has officially announced its Initial Public Offering (IPO) at the Pakistan Stock Exchange (PSX), aiming to raise Rs920 million ($3.3 million). This landmark IPO highlights the growing confidence in Pakistan’s real estate sector and offers investors a chance to participate in one of the country’s most dynamic property markets.

Income from Prime Karachi Real Estate Projects

IMAGE generates revenue through two key real estate projects in Karachi:

• A fully-occupied 8-story commercial building on Shahrah-e-Faisal, one of Karachi’s busiest business hubs.
• A residential-cum-commercial project designed to generate both sales and long-term rental income.

These developments make IMAGE REIT a promising opportunity for investors looking to diversify into Shariah-compliant property investments in Pakistan.

IPO Structure and Book Building Method

The IPO consists of 92,015,467 units under the REIT scheme. It will be carried out through a 100% Book Building method, with:

• Floor Price: PKR 10 per unit
• Price Band: Up to 40% premium (PKR 14 per unit)

According to the company, 25% of the total issue size is reserved for the general public, who will be able to subscribe at the strike price determined after the Book Building process.

Utilization of IPO Proceeds

Funds raised from the IPO will be used to:

• Complete and market 11 residential floors of IMAGE’s Developmental REIT project.
• Enhance growth opportunities in the recovering real estate market of Pakistan.

The Central Depository Company of Pakistan Limited (CDC) has been appointed as the Trustee of IMAGE REIT, ensuring transparency and investor protection.

Professional Management & Investor Opportunities

IMAGE REIT is managed by Sinolink REIT Management Company Limited, a licensed firm specializing in innovative, Shariah-compliant investment solutions. By offering both institutional and retail investors access to professionally managed real estate portfolios, the company is contributing to the formalization of Pakistan’s real estate sector.

The IPO is being jointly handled by Topline Securities and Growth Securities as Consultants and Book Runners.

Why Investors Should Watch IMAGE REIT’s IPO

This IPO offers investors a unique chance to gain exposure to:

• Karachi’s high-demand commercial and residential property market
• Shariah-compliant real estate investments
• A professionally managed REIT structure backed by experienced firms

With Pakistan’s real estate sector showing signs of recovery, IMAGE REIT’s IPO could prove to be a lucrative opportunity for both short-term and long-term investors.