Dolmen City REIT
A Listed, Rated, Closed-end, Perpetual, Shariah-compliant, Rental REIT scheme
Key Facts
Fund Size
PKR 22,237 million
Occupancy
Dolmen Mall Clifton
The Harbor Front
Average
98.14%
97.20%
97.84%
Leasable Area
Dolmen Mall Clifton
The Harbor Front
Total
549,112 sq. ft
257,162 sq. ft
806,274 sq. ft
NAV (March 2023)
Rs. 29.06 per unit
Dividend Yield
Quarter Ended (Mar. 2023)
Annualized (2023)
13.10%
18.00%
Unit Price (Current on PSX)
Rs.19.45
Market Capitalization
Rs.
43,250,965.00
Rating
AAA(rr)
NTN: 4360482-0 | Symbol: DCR | Listed on PSX
Trustee
Central Depository Company of Pakistan
Property Manager
Dolmen Real Estate Management (Private) Limited
Property Valuer
MYK Associates Private Limited
Auditor
KPMG Taseer Hadi & Co.
Legal Counsellor
Mohsin Tayebaly and Co. Corporate Legal Consultants
Shariah Advisor
Alhamd Shariah Advisory Services (Private) Limited
Share Registrar
CDC Share Registrar Services Limited
CDC House, 99-B, Block “B” S.M.C.H.S. Main Shahrah-e-Faisal, Karachi.
Rating Agency
VIS Credit Rating Company Limited
Details
Dolmen Mall Clifton is a mixed-use complex situated on the waterfront at the intersection of Defence and Clifton’s exclusive residential districts in Karachi, Pakistan. It is made up of four towers: Tower A, Tower B, Harbour Front and Executive Tower. At the base of the complex is Dolmen Mall, a three-level shopping mall offering premium retail space over an area of 600,000 sq ft (56,000 m2). The total development area is 3,441,340 sq ft (319,711 m2).
Dolmen Mall Clifton has revolutionized the retail industry in Pakistan. The mall brings together the best in food, fashion and leisure. With over 130 retail outlets, a hypermarket and a food court that can accommodate 1,200 customers. Dolmen Mall Clifton is Pakistan’s first international standard shopping mall, offering a wide selection of domestic and international brands such as Mango, Carrefour, Khaadi, Sapphire, Nike, Diesel, Aldo, Charles & Keith. It offers shoppers exclusive access to the world’s most popular retail brands and restaurants, attracting customers from all over the country.
Dolmen Mall is a 3-level shopping mall built in 2011 with an area of 600,000 sq ft (56,000 m2), of which 547,924 sq ft (50,903.8 m2) are leasable. The occupancy rate of the mall is 98.3% as of Q1 2020.
Tower A and B are 150 m (490 ft) in height, 40 floors each, designed by architect Arshad Shahid Abdulla. Both towers offer office space, while Tower B will also host a hotel on its ten top floors. Executive Tower is a 17-floor office building. Harbour Front is an office building with 19 floors and houses some multinational corporations such as Mitsubishi and Procter & Gamble.
Services and Facilities
Global Workstyle
- Fiber-optic backbone wiring to facilitate inter-floor communications
- Raised flooring to facilitate cabling and changes in office configurations
- Central control center to manage air-conditioning, fire alarm, lift and lighting systems
- Emergency power supply
- 24-hour air-conditioning for tenants’ data centers
- Dial in command system for tenants
- Video conferencing facilities
- Security lift
- Over 500 spaces make for easy and convenient parking.