قومی ریئل اسٹیٹ خبریں

Islamabad | ReNews Pakistan
Pakistan’s securities regulator has proposed a major relaxation of rules governing Real Estate Investment Trusts (REITs), aiming to attract greater long-term investment into the country’s property sector and expand institutional participation in real estate.
The Securities and Exchange Commission of Pakistan (SECP) has introduced draft amendments to the REIT Regulations, 2022, proposing changes that would give REIT schemes greater flexibility in structuring their investments and broaden the range of projects eligible for investment.
Under the proposed amendments, the minimum proportion of income and assets required to originate from or comprise real estate would be reduced to 65 percent from the existing 75 percent. The SECP said the proposed reduction would provide REIT schemes with greater flexibility in managing their portfolios while expanding the range of eligible investment opportunities.
The regulator said the reforms are intended to create a more enabling framework capable of mobilizing long-term capital, broadening investor participation and unlocking the potential of Pakistan’s real estate market.
REITs are regulated investment vehicles through which multiple investors pool their money to invest in property without having to directly purchase or manage real estate. Depending on their structure, REITs can focus on rental properties, property development, investment activities or a combination of these areas.
Vacant land and plots may become eligible for investment
One of the key proposed changes would allow investment based REITs to invest in vacant land and plots, subject to applicable regulatory requirements.
The move could expand the scope of institutional investment in Pakistan’s property market by allowing certain REIT structures to participate in land-based projects rather than being limited primarily to developed or income generating real estate.
The SECP has also proposed widening participation in REIT schemes. Under the draft amendments, group level trusts and employee funds would be allowed to invest in REIT schemes that are not listed on a stock exchange, potentially expanding the investor base available to such funds.
Another proposed change concerns financing arrangements between REIT schemes and their sponsors, directors and associated entities. The period during which schemes may borrow from these related parties would be extended from 24 months to 36 months, while existing requirements for investor approval would remain in place.
The regulator has also proposed providing rental and investment based REITs with an additional period of up to one year to achieve listing where delays arise from circumstances beyond the control of their managers.
Hybrid REITs to receive greater regulatory clarity
The draft amendments would also clarify the treatment of hybrid REIT schemes that combine investment and rental components.
Under the proposed framework, such schemes would be able to earn rental income from properties held within their portfolios while continuing to operate under a hybrid investment structure.
The SECP believes the proposed reforms can make Pakistan’s REIT framework more flexible and attractive to both domestic and institutional investors. By lowering the real estate threshold and expanding permissible investment avenues, the regulator is seeking to encourage the development of a broader range of regulated property investment products.
The proposed changes come as Pakistan continues efforts to channel investment toward productive sectors and develop mechanisms capable of attracting long term domestic and institutional capital.
However, the amendments have not yet been finalized. The SECP has released the draft proposals for public consultation, meaning stakeholders and market participants can submit their views before the regulator decides on the final regulatory framework.

More than 340,000 kanals of Auqaf land in Khyber Pakhtunkhwa are missing from the department’s official records, even though administrations in 20 districts have reported a total of 407,374 kanals and eight marlas. The Auqaf Department’s own records, by comparison, list only around 67,000 kanals across the province.
The significant discrepancy has raised questions about the recording, monitoring and protection of public land in the province. Details obtained from district administrations indicate that the reported area of Auqaf land is several times greater than the amount recorded by the department.

Government sources claim that influential individuals have occupied valuable land that is missing from the records for several years. They say the situation has left land worth billions of rupees outside government oversight. However, the report does not provide a district-by-district account of the alleged encroachments or clarify the land’s current legal status.

According to documents, information on Auqaf land was collected from 20 districts. Mardan reported the largest area, with 45,462 kanals and 16 marlas. The report did not include figures for the other districts. The report also provided no details about the reasons for the discrepancy or any formal action or government decision to identify the land and verify its ownership. The figures point to the need for a comprehensive survey of Auqaf properties, reconciliation with district records and a review of the department’s official entries.

Khyber Pakhtunkhwa Governor’s Adviser on Law, Labour and Inter-Provincial Coordination Amir Javed has directed the Workers Welfare Board (WWB) to ensure transparent allotment of residential flats, remove encroachments from its properties and accelerate the digitisation of official records. The directives were issued during his visit to the board’s headquarters in Peshawar, where officials briefed him on landholdings, residential facilities, ongoing development projects and welfare initiatives in the presence of Labour Secretary Abdul Basit. Emphasising the importance of workers’ housing and improved living conditions, the adviser said public resources must be managed in accordance with established rules, merit and transparency.

During the briefing, officials informed the adviser that the Workers Welfare Board owned approximately 2,495 kanals of land across Khyber Pakhtunkhwa and had a total of 2,056 residential flats. Of these, 192 flats were currently occupied, while 496 were ready for allotment. The remaining 1,368 flats had yet to be completed or made available for occupation. Reviewing the housing allocation process, Amir Javed made it clear that direct allotments would not be permitted and that all residential units must be allocated strictly under the prescribed rules and regulations. He also called for continuous monitoring of housing schemes and property records to prevent irregularities and ensure that residential facilities reach eligible workers.

Expressing serious concern over encroachments on the board’s properties, the adviser directed officials to remove all unauthorised occupations within one week. He observed that regular monthly inspections could have prevented illegal occupation and criticised the lack of effective administrative action over the previous three years. Referring to 60 residential quarters sealed the preceding week, he instructed board officials to prepare an effective legal defence for the forthcoming court proceedings. He further stressed that stronger property management, regular inspections and transparent documentation were essential to protecting public assets and preventing future disputes over land ownership and residential allotments.

The adviser also directed the board to expedite record digitisation, improve educational and healthcare services and strengthen welfare support for registered workers and their families. He called for better monitoring of scholarships, improved facilities for workers’ children, expanded vocational training opportunities for women and timely payment of marriage and death grants. Officials were also instructed to review the board’s liabilities and expenditure, improve financial discipline and examine relevant labour laws, including provisions concerning the retirement age of 60 years. Amir Javed emphasised that administrative accountability and effective management of public resources were necessary to ensure that housing and welfare benefits reached deserving workers without unnecessary delays.

The Sindh High Court (SHC) has directed the Karachi mayor to take immediate and effective measures to recover approximately 25 acres of valuable public amenity land in Orangi Town, expressing serious dissatisfaction over the Karachi Metropolitan Corporation’s (KMC) failure to address illegal allotments, encroachments and unauthorised land conversion. A two-member constitutional bench headed by Justice Riazat Ali Sahar issued the directions on Thursday while hearing petitions concerning land located in Sector 16, Block-I, Orangi Town. According to the approved layout plan, the property was originally reserved for a Norwegian school and technical institute, along with football and hockey grounds for students. However, the petitioners alleged that land grabbers had occupied the property, subdivided it into residential plots and obtained illegal leases in collusion with government officials.

The court observed that an inquiry committee constituted following its September 2024 directions had confirmed serious illegalities and irregularities in the issuance of leases for the land, which was designated exclusively for public purposes, particularly educational and healthcare facilities. Despite the committee’s recommendations for immediate restoration and legal action against those responsible, the bench found that KMC had failed to demonstrate meaningful progress. The court noted that the measures undertaken by municipal authorities had largely remained limited to official correspondence and procedural formalities. During the proceedings, KMC officials acknowledged that civil lawsuits against the leaseholders had been filed only three days earlier, while no criminal or departmental proceedings had been initiated against the individuals or officials allegedly involved.

Expressing strong displeasure over the prolonged administrative inaction, the bench observed that the delay raised concerns about possible undue protection being extended to beneficiaries of illegal land transactions and public officials involved in facilitating them. The court emphasised that public amenity land is held by government institutions in trust for the community and cannot lawfully be transferred, converted or utilised for private commercial or residential purposes in violation of its designated use. It further observed that the unauthorised conversion of land reserved for educational and healthcare facilities undermines public welfare and adversely affects the rights and legitimate interests of local residents.

The SHC directed the Karachi mayor to personally supervise the matter, pursue the cancellation of illegally issued leases and ensure recovery of the occupied land for its original public purpose. The bench also ordered the initiation of appropriate civil, criminal and departmental proceedings against individuals and government officials found responsible for illegal allotments, leasing, occupation or misuse of the property, without extending preferential treatment based on official status or influence. The mayor was instructed to submit a comprehensive compliance report, supported by documentary evidence, within 30 days, detailing the measures taken for land recovery and legal proceedings. The court adjourned further hearing until December 15.

The Securities and Exchange Commission of Pakistan (SECP) has urged businesses to consider fire and property insurance to protect their assets from unexpected damage and reduce the financial impact of potential losses.

The regulator organised an awareness session in collaboration with the Rawalpindi Chamber of Commerce and Industry (RCCI) at the chamber’s premises. Business owners, traders and industrialists attended the event, which focused on the risks posed by fire incidents and the role of insurance in helping businesses manage them.
Participants were told that the effects of a fire can extend beyond damage to buildings and equipment. Business closures, lost income and disruptions to employees’ livelihoods can also follow an incident, making fire prevention and adequate insurance coverage important parts of business preparedness.
The session covered protection for commercial properties, machinery, equipment and inventory. Insurance industry representatives explained available fire and property insurance products, policy considerations, coverage options and the claims settlement process.
Speakers also discussed business interruption coverage, which can help companies recover financially after insured losses disrupt their operations. Participants were briefed on Takaful as a Shariah-compliant alternative to conventional insurance and took part in a question-and-answer session on products, coverage and claims.
The initiative is part of the SECP’s efforts to improve insurance awareness and encourage wider coverage among businesses, particularly small and medium-sized enterprises. The regulator said the effort aims to strengthen financial preparedness and help businesses protect their assets and maintain operations after unexpected losses.

A Senate sub-committee has raised serious concerns over the reported establishment of 27 allegedly illegal housing societies on land belonging to Jammu and Kashmir State in Lahore, where residential plots are reportedly being sold to unsuspecting citizens. The matter came to light during a visit led by Nasir Mahmood Butt, Convener of the Senate Standing Committee on Kashmir Affairs, Gilgit-Baltistan and Frontier Regions, along with Senators Naseema Ehsan and Nadeem Bhutto. The delegation inspected state-owned properties in Sultanpura, Rehmanpura and Naulakha Bazaar to assess their legal status, management and protection.

According to an official statement, several housing societies have allegedly been developed on state-owned land without lawful authorisation, while residential buildings have also been constructed on the disputed properties. The committee expressed concern that many buyers may be unaware of the actual ownership status of the land, potentially exposing them to legal disputes, financial losses and fraudulent property transactions.

During the inspection, relevant authorities briefed the delegation on property records, administrative affairs, rental income, unauthorised occupation and encroachments. The committee stressed the need for a comprehensive investigation into the legal status of the 27 housing societies, verification of land ownership documents and examination of plot sale and purchase records to identify possible irregularities and protect the interests of affected citizens.

The committee emphasised that Jammu and Kashmir State properties are valuable state assets requiring effective protection, transparent administration and proper regulatory oversight. Members called for stronger measures to prevent illegal construction, unauthorised land transactions and further encroachments, while ensuring that citizens are protected from potential property fraud and legal complications.