A REIT, or Real Estate Investment Trust, is a company that owns or finances income-producing real estate. Modelled after mutual funds, REITs provide investors of all types with regular income streams, diversification, and long term capital appreciation. REITs typically pay out 90% of their taxable income as dividends to shareholders. Some salient features of REITs are the diversification they offer, high dividend returns, liquidity and transparency. REITs first originated in the U.S during the 1960s to describe vehicles used for collective investments in real estate. The concept quickly spread throughout the world, and many countries introduced REITs in their respective jurisdictions. Over most long-term perspectives, stock exchange-listed REIT returns outperformed the S&P500, Dow Jones Industrials and NASDAQ Composite.
The project is envisaged to be a unique luxurious high-end mix use project with retail complex, office spaces, and serviced residential apartments, together with a Boutique hotel and high quality support facilities comprising a pool, gym, roof top tennis courts and wellness centre.
For delivering a project of such magnitude, SB Global has already engaged one of the world’s foremost architect firms based out of London. The design team has already developed a concept paper on the idea and started working on a model which is energy efficient and compatible with the climatic conditions of Lahore.
SB Global REIT Management Company Limited was incorporated in March 2016 and is the first REIT management company to be based in Lahore. The sponsors of SB Global RMC have entered into this business with a vision to develop REITs as an investment vehicle in Pakistan to unlock untapped potential of real estate market in the country. REITs have been a highly successful model globally allowing investors which include retail and high net worth individuals as well as institutional with access to real estate investments.
Promoters of SB Global RMC have international experience of managing and developing real estate projects and are well versed with the real estate dynamics of the country.
The primary promoter and man behind the vision of SB Global, Sakib Berjees has a vast experience of investment banking, financial structuring and investment management with prestigious financial institutions in London, Zurich and Monte Carlo. During his international career, he managed assets and funds worth over US$ 13 billion for high profile clients which included international conglomerates and premium individuals. He graduated from University of Liverpool with an Honours in LLB. Sakib continued his path towards corporate and investment law and obtained a Master’s degree in Law from the London School of Economics and in Macro Prudential Financial Regulation from the School of Advance Study, at London University.
He came back to Pakistan in 2011 with the vision to establish REITs in the country and has since been working tirelessly towards achievement of that goal.
Imran Bashir is a qualified chartered accountant and is a Fellow member of Institute of Chartered Accountants of Pakistan. He is currently serving as Partner at Rizwan & Co. managing the corporate advisory, internal audit and assurance division. He has over 25 years of experience in the fielfd of finance, accounts internal & external audit with various chartered accountancy firms, corporate conglomerates and commercial bank. His presence on the board of SB Global RMC has provided the company with a senior audit and compliance professional keeping keen eyes on such matters.
An exceptionally professional and accomplished executive, with an experience of more than 3 decades in the industry in Business Operations and Marketing & Sales roles. He is currently working as Director Development of Beaconhouse School Systems, largest chain of schools of its kind in the world, Noorudin Ahmad has worked on various other projects including launch of franchise-based school system known as The Educators. Launched the said project in 2001 and managed growth of the project to 300 Schools and about 100,000 students, which has been the largest franchise network in Pakistan in any sector. He also launched various projects as an allied business to the Schools. As Chief Operating Officer at Premier Bus Service he launched public transports including 256 buses with a turnover of approximately PKR 600 million annually attracting more than 50 million customers annually. As a goal oriented strong headed business leader, Nooruddin aspires to learn and achieve more in the years to come as well.
Dr Waqar Masood is presently serving as Special Assistant to the Prime Minister (Minister of State) on Finance and Revenue. Earlier, he has served in leadership positions all through his professional career. After promotion as Secretary in 2002, he served in key economic ministries such as Economic Affairs Finance, Petroleum and Textiles. He also served as Special Secretary to the Prime Minister. After retirement, he became an Advocate, High Court and set up a law firm in Islamabad where he was a senior partner.
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