First Dawood Properties Limited
First Dawood Properties Limited formerly First Dawood Investment Bank Limited (FDIBL) was incorporated on June 22, 1994 as Dawood Leasing Company Limited, with a paid up capital of Rs. 250 million. It is listed on the Karachi Stock Exchange in Pakistan. Against the public offering of Rs. 95 million, the company received a subscription of over Rs.140 million despite bearish market conditions at the time of floatation.
The future plans of FDPL include, the initiation of real Shariah complaint activities which will not take advantage of prevailing interest rates in the country, as presence of interest / KIBOR continues to contaminate the spirit of Islam with Riba. Since First Dawood Group has adequate experience in real estate and rental property businesses, therefore FDPL also intend to venture in the area by both owning and building properties for investors.