Investor Presentaiton

80 Government Creating an Enabling Environment Federal Government: • Gave tax incentives to developers and real estate buyers • Designed a program to offer markup subsidy to end buyers • Established Naya Pakistan Housing & Development Authority (NAPHDA) • Established Real Estate Regulatory Authority (RERA) in ICT . Implemented AML/CFT regulations • Provincial Governments rationalized transfer duties and taxes • Federal Board of Revenue removed disincentives for REITS • State Bank of Pakistan assigned credit targets for the construction sector; removed disincentives for investment in REITS ARIF HABIB DOLMEN REIT MANAGEMENT LIMITED • Securities & Exchange Commission of Pakistan amended the REIT Regulations to make them more conducive

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