REITs in Pakistan have a trust structure. The trust form has trustees, the REIT Management Company (RMC) and investors. The trust is established by the REIT management company and the trustee. The trustees of the REIT fund hold its property and keep an eye on the operations of a particular REIT Scheme. REIT Management Company (RMC) approved by SECP manages the scheme in accordance with the provisions of the trust deed and the offering document.
REIT Schemes are established by a trust deed. It is a legal document that sets out the working arrangement between the RMC, and the Trustee.
The offering document lists the investment objectives and restrictions, its characteristics, risk disclosure, fees, dealing procedures, as well as sources of further information.