Dolmen City REIT

A Listed, Rated, Closed-end, Perpetual, Shariah-compliant, Rental REIT scheme

Key Facts

Fund Size

PKR 22,237 million

Occupancy

Dolmen Mall Clifton
The Harbor Front
Average

98.14%
97.20%
97.84%

Leasable Area

Dolmen Mall Clifton
The Harbor Front
Total

549,112 sq. ft
257,162 sq. ft
806,274 sq. ft

NAV (March 2023)

Rs. 29.06 per unit

Dividend Yield

Quarter Ended (Mar. 2023)
Annualized (2023)

13.10%
18.00%

Unit Price (Current on PSX)

Rs.16.15

Market Capitalization

Rs.
35,912,755.00

Rating

AAA(rr)

NTN: 4360482-0     |     Symbol: DCR     |     Listed on PSX

Details

Dolmen City REIT is Pakistan’s first REIT scheme. It is a Closed-ended, Listed, Rated, Perpetual, Shariah-compliant, Rental REIT scheme which offers investors to become Unit holders of two component of the Dolmen City project, Dolmen Mall Clifton and The Harbor Front. The properties will generate rental income that will be distributed by the REIT Scheme among unit holders in the shape of dividends. Any possible appreciation in the value of the property will be an added benefit. Dolmen Mall Clifton has a total built-up area of approximately 1 million square feet spread over three levels. Anchored by Hyperstar and Debenhams, Dolmen Mall Clifton has a strong mix of local and international brands including Mango, Next, Nike, Nine West, Timberland and Charles & Keith. With 130 retail outlets, a multi-level department store, and a food court that accommodates 1,200 customers, Dolmen Mall Clifton is the largest shopping mall in Pakistan, currently operating over 90% occupancy rate. The Harbour Front is an office complex home to leading local and multinational corporations of the country. The complex offers prime office space across seventeen floors, spread over 270,000 square feet. The building is currently 100% occupied with the current tenant portfolio comprising of companies including Engro, Phillip Morris Mitsubishi and Procter & Gamble, among others.

Management Details

Trustee

Central Depository Company of Pakistan

Property Manager

Dolmen Real Estate Management (Private) Limited

Property Valuer

MYK Associates Private Limited

Auditor

KPMG Taseer Hadi & Co.

Legal Counselr

Mohsin Tayebaly and Co. Corporate Legal Consultants

Shariah Advisor

Alhamd Shariah Advisory Services (Private) Limited

Share Registrar

CDC Share Registrar Services Limited
CDC House, 99-B, Block “B” S.M.C.H.S. Main Shahrah-e-Faisal, Karachi.

Rating Agency 

VIS Credit Rating Company Limited

Property Documents

Offering Document

PDF

Trust Deed

PDF

Business Plan

PDF

Fact Sheet

PDF

Valuation Report

PDF
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