Karachi: Globe Residency REIT (GRR), managed by Arif Habib Dolmen REIT Management Limited, reported a strong financial performance for the nine-month period ended March 31, 2026, driven by higher property sales and improved operational efficiency. The company also announced that no cash dividend, bonus units, rights issue, or any other corporate action has been recommended for the period.

According to the unaudited financial results, Globe Residency REIT recorded revenue from contracts with customers of PKR 3.60 billion, more than doubling from PKR 1.77 billion reported in the corresponding period last year. Gross profit climbed to PKR 614.67 million, compared with PKR 337.02 million a year earlier, reflecting the project’s stronger sales momentum.

The REIT’s net operating income increased significantly to PKR 492.88 million, while profit after tax surged nearly 79% to PKR 485.83 million, up from PKR 271.54 million in the same period last year. Consequently, earnings per unit (EPU) improved to PKR 3.47, compared with PKR 1.94 in the corresponding period of FY2025.

During the review period, the scheme sold 273 residential units, bringing cumulative net units sold to 1,131. Total cumulative net sales reached PKR 18.87 billion, while installment recovery remained strong at 91%, highlighting healthy customer demand and consistent cash inflows.

The directors noted that Globe Residency REIT continues to benefit from the expansion of its development project at Naya Nazimabad. Following regulatory amendments, the project size increased substantially, enabling the addition of 295 apartment units and lifting the total inventory to 1,639 units. The management also reported encouraging demand for the recently launched Musharaka Towers, with more than 80% of the available inventory booked shortly after launch.

Financially, the REIT’s net asset value (NAV) stood at PKR 14.12 per unit as of March 31, 2026. The directors highlighted that the market price of GRR units continued to trade at a significant premium to NAV, reflecting investor confidence in the development’s long-term prospects.

Looking ahead, the management expressed optimism about Pakistan’s real estate sector, citing lower interest rates, easing inflation, infrastructure improvements, and increasing adoption of REITs and digital property investment platforms as positive drivers for future growth. The company reaffirmed its commitment to delivering long-term value through disciplined project execution, operational efficiency, and transparent governance.