Naya Nazimabad Globe Residency
Meezan Bank Limited (MBL) has entered in to a Musharakah Agreement with Globe Residency REIT (GRR), Naya Nazimabad for development of 3 Apartment Towers consisting of 408 apartments of 2 Bedrooms. Overall, GRR is constructing nine towers. Construction of Towers is already in progress and their grey structure is expected to be ready in eighteen months.
Globe Residency REIT is being managed by Arif Habib Dolmen REIT Management Limited and Arif Habib Real Estate Development Company is the Development Advisor. All nine towers will be ready for possession within 3 years. GRR units will also be listed on PSX offering opportunity to invest to general public. 642 apartments have already been booked by the buyers out of 838 offered in November 2021.