{
  "id": 4975938,
  "title": "NNAR’s book-building fully subscribed",
  "url": "https://urgent.news/2026/09/02/nnars-book-building-fully-subscribed",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-02T00:09:17.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437465/nnars-book-building-fully-subscribed"
  },
  "original_language": "en",
  "account": "Karachi witnessed strong demand for the Naya Nazimabad Apartment REIT (NNAR) during the book-building phase of its offering, with institutions and high-net-worth investors securing all available units within the first hour. The book-building process, spanning two days from September 1 to September 2, aimed to sell 44.06 million units, representing 15 percent of the scheme. Of this, 33.05 million units, or 75 percent, were allocated through the book-building segment, while the remaining 25 percent would be offered to the general public at a strike price determined by the process. The units were priced within a range of Rs18 to Rs23 per unit, with a total potential offer value ranging between approximately Rs793 million and Rs1.013 billion, contingent on the final strike price. Post completion of book-building, 11.02 million units will be offered to the general public, enabling retail investors to participate. NNAR is a closed-end, Shariah-compliant developmental REIT overseen by Arif Habib Dolmen REIT Management Limited. The scheme involves three real estate portfolios situated in Karachi and Lahore, with a collective assessed value of around Rs20.46 billion as of April 2026. The swift investor response in the opening hour underscores substantial interest in professionally managed, asset-backed real estate investment products. The planned listing of NNAR is contingent upon the successful completion of the book-building phase followed by the general-public subscription process.",
  "summary": "KARACHI: The book-building portion of the Naya Nazimabad Apartment REIT (NNAR) was fully subscribed within the first hour of bidding, reflecting strong demand from institutional and high-net-worth investors. The two-day book-building process began on September 1 and will continue through September 2. NNAR is offering 44.06 million units, equivalent to 15 percent of the scheme, through an Offer…",
  "key_points": [
    "NNAR's book-building fully subscribed within first hour",
    "33.05 million units allocated through book-building segment",
    "11.02 million units offered to general public post completion"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}