How is a REIT structured, and what makes one 'rental'?

A real estate investment trust pools investor capital into income-producing property and is generally required to distribute the large majority of its net income to unit holders in exchange for favourable tax treatment. A rental REIT holds completed, tenanted assets and distributes the rent; a developmental REIT builds and sells. The rental structure is the more predictable of the two and is what the Pakistani listed market has largely offered to date.