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The Pakistan Credit Rating Agency Limited
Press Release
Date
02-Dec-25

Analyst
Muhammad Umer Munir
umer.munir@pacra.com
+92-42-35869504
www.pacra.com

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This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA

PACRA withdraws the Entity Ratings of Zameen REIT Management Company Limited

Rating Type REIT Manager Rating
Current
(02-Dec-25 ) 		Previous
(29-Nov-24 )
Action Withdraw Maintain
Long Term - RM 2
Short Term - -
Outlook Stable
Rating Watch - Yes

PACRA assigned the latest rating to Zameen REIT Management Company Limited in November 2024. However, the management has decided to discontinue the rating. Subsequent to the management decision, PACRA withdraws the entity rating of Zameen REIT Management Company Limited with immediate effect.

About the Entity
Zameen REIT Management Company Limited, a wholly owned subsidiary of Zameen Developments (Private) Limited, was established as a public limited company on March 1, 2023, under the Companies Act, 2017. It received its license from the Securities and Exchange Commission of Pakistan (SECP) on May 16, 2023, to operate as a Non-Banking Finance Company (NBFC) providing REIT Management Services.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.