Real Estate Investment Trusts (REIT) will help broaden investment in Pakistan from local and Gulf-based investors as the country struggles to promote itself as a growth market, Pakistan-based real estate executives said. Arif Habib, chief executive of Arif Habib Securities Ltd (AHSL) , said much of Pakistan's current real estate development was small in nature and lacking in transparency - issues that keep investment at bay.
"REITs will formalise the real estate sector and allow the general public to participate," Habib said in an interview with Reuters in Dubai. "It would also allow for foreign investors to come to Pakistan knowing that the investment would be closely regulated." Net foreign investment in Pakistan fell 28.4 percent to $745.8 million in the first four months of the fiscal year 2010/11 as a shaky security situation and a Taliban insurgency put off investors.
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