ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Friday granted permission to two Real Estate Investment Trusts (REIT) Management Companies (RMC) in Pakistan. The SECP had received four applications for formation of RMCs out of which two companies—Arif Habib REIT Management Company Limited and AKD REIT Management Company Limited have been granted permission whereas the other two applications have been rejected owing to non-fulfillment of regulatory requirements. The REITs are a new product in the Pakistani capital market and the enabling law for REITs was notified last year. staff report