Karachi: Dolmen City REIT (DCR), managed by Arif Habib Dolmen REIT Management Limited, has reported stable financial results for the nine-month period ended March 31, 2026, supported by resilient rental income, high occupancy levels, and continued strong demand for premium retail and office space.

According to the financial statements approved by the Board of Directors, the REIT recorded rental income of PKR 4.72 billion, up from PKR 4.02 billion in the corresponding period last year. After accounting for operating expenses, finance costs, and taxes, the fund posted a profit of PKR 5.23 billion, compared with PKR 8.08 billion a year earlier. The previous year’s earnings had been significantly boosted by a larger unrealized gain on the remeasurement of investment property.

The REIT’s distributable income stood at PKR 4.24 billion, translating into earnings per unit (distributable income) of PKR 1.91 for the nine-month period. Net asset value (NAV) improved to PKR 34.21 per unit as of March 31, 2026, compared with PKR 34.11 at the end of June 2025.

The Board also declared an interim cash distribution of PKR 0.66 per unit for the quarter ended March 31, 2026. This brings the total dividend declared for the first nine months of FY2026 to PKR 1.92 per unit, amounting to an overall distribution of approximately PKR 4.27 billion to unit holders.

Operationally, Dolmen City REIT continued to demonstrate strong performance. The portfolio maintained an overall occupancy rate of 99%, with Dolmen Mall Clifton recording 98.6% occupancy and The Harbour Front office tower achieving full occupancy. The weighted average lease expiry (WALE) remained healthy at approximately 2.27 years for the mall and 2.67 years for the office tower, reflecting stable long-term tenancy.

Management highlighted that Dolmen Mall Clifton continued to attract substantial visitor traffic, averaging around 29,000 visitors per day during the nine-month period. Seasonal campaigns and promotional events helped sustain customer engagement and strengthen tenant sales throughout the year.

The Directors noted that demand for premium retail and office space in Pakistan remains robust, driven by evolving business requirements, urbanization, and increasing consumer activity. They added that the REIT remains focused on enhancing tenant experience, maintaining high occupancy, and creating sustainable long-term value for investors.

With a diversified portfolio comprising Dolmen Mall Clifton and The Harbour Front, Dolmen City REIT continues to reinforce its position as one of Pakistan’s leading income-generating real estate investment trusts, supported by stable cash flows and consistent dividend distributions.