AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a recent development, Arif Habib Equity (Private) Limited (AHEPL) has successfully sold its entire holding of 34,133,100 units in Globe Residency REIT (GRR). The transaction took place on 1st June 2023 through the National Depository Market (NDM) at an average price of Rs. 9.99 per unit. This sale marks a significant change in the ownership structure of GRR.
It is important to note that Arif Habib Group, along with other sponsors of GRR, continues to maintain control of more than fifty percent of the units in the REIT, both directly and indirectly. This control has been in place since the inception of Globe Residency REIT – the REIT Scheme.
The sale of Arif Habib Equity’s holdings in GRR demonstrates a strategic decision made by the company. While the specific reasons for the sale remain undisclosed, it showcases the dynamic nature of the real estate investment trust market and the actions taken by key stakeholders to optimize their investment portfolios.
Globe Residency REIT, in adherence to good corporate governance practices, has promptly informed shareholders and the public about this transaction. This transparency ensures that stakeholders are well-informed and can make informed decisions regarding their investment in the REIT.