AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Multan: The Pakistan Credit Rating Agency Limited has affirmed the rating of IMM REIT Management Company Limited, reflecting its experienced management team and strategic backing from prominent industry players. IMM RMC, owned by Mascon Private Limited, Mr. Sheraz Jehangir Monnoo, and Mr. Khizar Ayub Izhar, is making strides in the real estate sector with the launch of its first Real Estate Investment Trust (REIT) scheme valued at PKR 7 billion.
The consortium backing IMM RMC brings a wealth of experience, with Mascon Pvt. Ltd. aiming to impact the real estate market and the Monnoo Group’s vast holdings in textiles and agriculture. The Izhar Group, known for its leadership in construction, adds further strength to the company’s market positioning.
The IMM Project One Developmental REIT Scheme, spearheaded by IMM RMC, is set on land near Bahauddin Zakariya University, Multan. The project aims to acquire a total of 807.9 acres, with a significant portion already secured. This venture is fully self-financed, anticipating inflows exceeding PKR 90 billion against outflows of approximately PKR 56 billion, ensuring liquidity and timely execution.
The financial strategy of the project, integrating land and equity contributions, is designed for long-term success, with revenue and dividends expected to materialize from the fifth year. The use of a Special Purpose Vehicle (SPV) structure is intended to enhance transparency and clarify responsibilities.
The rating assigned to RMC reflects its developmental stage, with an evolving approach to project selection and risk management. Future performance is contingent upon the successful execution of planned projects, underscoring the importance of strategic development in the real estate sector.