Director of Arif Habib Dolmen REIT Management Limited Sells 10,787,938 Units of Globe Residency REIT

Karachi, In a recent transaction, the director of Arif Habib Dolmen REIT Management Limited, the REIT Management Company of Globe Residency REIT (GRR), has sold their entire holding of 10,787,938 units of GRR on June 15, 2023, through the Ready Market. The average price per unit for the sale was Rs. 9.97. This move has been voluntarily conveyed to ensure good corporate governance and recordkeeping.

It is important to note that neither GRR, a REIT scheme, nor its management company, Arif Habib Dolmen REIT Management Limited, falls under the regulatory ambit as per the respective definitions provided. However, in the spirit of transparency, this information has been shared with the relevant parties.

In addition to the director’s transaction, it has been disclosed that the Arif Habib Group, along with other sponsors of GRR, has maintained control of more than fifty percent of the units of GRR, directly or indirectly, since the inception of the REIT scheme, Globe Residency REIT.

This development sheds light on the ongoing activities and stakeholder involvement within Globe Residency REIT, offering insights into the investment landscape of the scheme. Market participants and interested parties are encouraged to keep track of these updates as they unfold.