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Historic First for Real Estate in Pakistan: IMARAT’s Subsidiary Earns A- Rating

In a landmark achievement for Pakistan’s real estate sector, IMARAT Group has announced that its subsidiary, Amazon Mall (PVT) Limited, has been assigned initial entity ratings of ‘A-/A2’ by VIS Credit Rating Company Limited. This marks IMARAT’s credibility, financial strength, and commitment to institutional governance.

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With this milestone, IMARAT Group takes a significant step toward unlocking its portfolio’s full potential and sets the stage for a future Initial Public Offering (IPO) as part of its long-term capital markets strategy.

IMARAT stands at the forefront of Pakistan’s real estate industry, with 14 landmark projects across commercial, residential, retail, and hospitality segments—representing a total development value of PKR 413 billion (~USD 1.5 billion). Flagship projects include Amazon Outlet Mall, Florence Galleria, IMARAT Builders Mall, and the expansive Mall of IMARAT.

In the hospitality sector, IMARAT is currently constructing 4 Marriott-branded hotels, including Courtyard by Marriott and Residence Inn by Marriott, bringing world-class standards of luxury and service to Pakistan’s growing tourism and business travel markets.

Beyond bricks and mortar, IMARAT is also Pakistan’s first PropTech pioneer. The Group has developed a suite of proprietary technologies tailored for the real estate sector—integrating AI powered lead management systems, custom CRM platforms, and automated marketing tools to enhance sales, service, and operational efficiency.

Its technology ecosystem—driven by subsidiaries like Graana.com, Agency21 International, and Propmax.AI—is redefining how real estate is discovered, transacted, and managed in Pakistan. These platforms enable IMARAT to capture and analyze market demand, optimize sales funnels, and deliver seamless digital experiences for property buyers and investors.

With a vision to become a global PropTech leader, IMARAT aims to export its unique fusion of real estate development and technological innovation to international markets.

VIS Credit Rating Company assigned a medium-to-long-term rating of ‘A-’ (Single A Minus) and a short-term rating of ‘A2’, supported by strong protection factors, sound liquidity, and a stable outlook. The rating reflects Amazon’s track record of successful project execution, high occupancy in completed assets, and robust forward bookings in ongoing developments.

Despite sector-wide challenges—including inflation, exchange rate volatility, and political uncertainty—Amazon’s low debt exposure, effective risk management, and strong governance have positioned the company to benefit from Pakistan’s improving macroeconomic indicators such as falling interest rates and a stabilizing PKR.

With institutional confidence now reinforced by this rating, IMARAT is accelerating its roadmap to launch an IPO, unlocking new growth opportunities, enhancing transparency, and gaining broader access to capital markets. The Group remains committed to financial discipline, governance excellence, and sustainable development across all its verticals.

As Pakistan’s real estate industry transitions into a more formalized, transparent, and technology-enabled era, IMARAT Group is proud to lead the way—locally and globally.

 

About IMARAT Group

IMARAT Group is one of Pakistan’s leading real estate conglomerates, with a portfolio of 14 projects valued at PKR 413 billion (USD 1.5 billion). The Group operates across real estate development, PropTech, and hospitality, with subsidiaries including Graana.com, Agency21, and Propmax.AI. IMARAT is pioneering innovation in Pakistan’s property sector and aspires to become a global PropTech leader.

Contact: info@imarat.com.pk, 051 111-555-555.

 

About VIS Credit Rating Company

VIS Credit Rating Company Limited (VIS) is a premier credit rating agency in Pakistan, licensed by the Securities and Exchange Commission of Pakistan (SECP). VIS provides independent and objective ratings of corporations and financial instruments, helping investors assess credit risk and enabling companies to build institutional credibility and transparency.

Contact: +92-21-35311861-64

Arslan Siddiqui

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