Lahore: The Pakistan Credit Rating Agency Limited (PACRA) has assigned a preliminary rating to the Indus DC REIT Scheme, reflecting its early-stage development profile and the significant sponsor strength and institutional support provided by the Master Group of Industries. The Fund, structured as a Rental REIT Scheme under the REIT Regulations, 2022, will be managed by IMM REIT Management Company Limited, which benefits from an experienced management team and relevant sector experience.
According to PACRA, the Indus DC REIT Scheme has an initial size of PKR 4.9 billion, fully committed by three strategic investors: NM Holding (Pvt.) Limited, Nadeem Malik Holdings (Pvt.) Limited, and Najeeb Holdings (Pvt.) Limited. Each investor contributes PKR 1.6 billion, maintaining at least 25% of the units in blocked accounts with the Trustee, ensuring ongoing sponsor commitment. The Fund is entering Pakistan's emerging data centre industry, driven by increasing demand from fintech, e-commerce, cloud adoption, IT exports, and government digitization initiatives.
The Fund proposes to develop a Tier-III certified data centre at Astra Block, Nawaz Sharif IT City, Lahore, Punjab. The site was acquired from the Punjab Central Business District Development Authority, supporting the project's long-term viability. The total project cost is estimated at approximately PKR 7 billion, with PKR 4.9 billion funded through sponsor equity. The facility is expected to generate rental income through leasing data centre space to corporate and technology clients. Construction is slated for completion within 12 months from commencement.
The Indus DC REIT Scheme plans to list on the Pakistan Stock Exchange in line with REIT regulations, targeting financial close by June 2026. Prior to listing, units will be offered via private placement to accredited investors to augment the fund size before the initial public offering. The future rating movement will depend on timely land acquisition, construction progress, regulatory compliance, and the Fund's ability to meet planned rental occupancy and cash flow targets.