The Pakistan Stock Exchange (PSX) has introduced the property sector to index listed firms akin to cement, banking, and telecommunications, raising the PSX number to 36 sectors.
According to the PSX announcement, the property sector would consist of non-REIT real estate-related listed firms.
This inclusion brings PSX closer to a more accurate and enhanced representation of the listed firms in terms of portraying important economic activities related to building and real estate.
TPL Properties, Javed Corp Ltd, and Pace (Pak) Limited are the three businesses that were first assigned to the sector. These businesses had also previously been listed in several industries.
The management of PSX has announced plans to list more than a dozen real estate investment trusts (REITs) to allow REITs to obtain capital for their real estate projects by making shares available to the public at the stock exchange.
REITs are real estate investment trusts that generate additional revenue for stockholders.
Individuals may fund development REIT (construction projects) and purchase a stake in rental projects in order to profit from financing or investment.
