Imarat Expands Presence in UAE through Graana.com Subsidiary and Secures REIT License for Bilateral Investments

Imarat Group of Companies, a prominent real estate developer in Pakistan, has made significant strides in the UAE through its subsidiary, Graana.com. The company recently secured a Real Estate Investment Trust (REIT) license from the Securities and Exchange Commission of Pakistan (SECP), opening up new opportunities for bilateral investments between the UAE and Pakistan.

Imarat’s proven track record of successful project completion, including residential and retail developments, has instilled confidence in Non-Resident Pakistanis (NRPs) to invest in the company’s projects. With annual remittances from the UAE to Pakistan amounting to over Dh21 billion, the introduction of a regulated REIT framework is expected to facilitate more efficient investment channels and boost economic activities in Pakistan.

Shafiq Akbar, chairman of Imarat, expressed his excitement about expanding operations in the UAE and attracting significant investments from both countries. Imarat’s affiliation with international hotel chains, like Marriott, and their innovative real estate developments continue to redefine Pakistan’s real estate landscape.

The upcoming investor roadshow aims to bring together leading investors to unlock the massive real estate potential in Pakistan and the UAE. Imarat anticipates Dh4 billion in investments from the UAE into Pakistan’s real estate sector following the REIT achievement, which will not only bolster the real estate market but also stimulate affiliated sectors and create employment opportunities.

Imarat’s focus on hospitality in Pakistan, including launching international hotel brands, is expected to strengthen the tourism and hospitality sectors and increase demand for building materials from the UAE. Additionally, Imarat’s commitment to sustainable living environments and technology innovation further showcases its vision for urban development.

Overall, Imarat’s accomplishments in securing the REIT license and expanding operations in the UAE are poised to make a significant impact on the real estate industries of both countries and foster greater economic collaboration.