Private Bank to Launch REIT

Bank Shahr has received permission from the Central Bank of Iran to launch a real estate investment trust. 
According to a press release seen on the bank's website, the private lender plans to increase its resources, boost lending capacity and cut losses, for which it sees a REIT as key. 
Iran Fara Bourse (IFB) in October launched the first real estate investment trust to help the key housing industry that has seen high and rising prices over the years as never before.