Pakistan Stock Exchange has officially introduced the ‘Property’ category for non-REIT enlisted companies of real estate. The addition was made on Wednesday, Aug. 11th, 2022.
A statement made by PSX states that "the addition takes PSX closer to a better and improved reflection of the economy in the composition of listed companies."
The number of sectors is now increased to 36, which will help PSX to reflect a better economy.
MD and CEO Pakistan Stock Exchange Farrukh H. Khan while addressing the launch of the new category stated: "The property sector is an integral part of the national economy of Pakistan."
"With the recent reforms and incentives given to the sector, it is poised to grow and become an engine of growth for the economy. Hence it was important to create a separate sector classification so that investors can follow and invest in the sector easily," he further added.
It is important to note that as per Global Industry Classification Standard (GICS) standards, the norm is to title the sector as Real Estate with further sub-sections. The GICS structure consists of 11 Sectors, 24 Industry groups, 69 Industries, and 158 sub-industries.
Via The Nation