HBL, TPL group sign accord to invest Rs2.25bn in TPL REIT Fund

MG News | February 17, 2022 at 03:21 PM GMT+05:00

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February 17, 2022 (MLN): Habib Bank Limited (HBL) and TPL Group have signed a term sheet for equity investment of Rs2.25 billion in TPL REIT Fund 1.

According to Najam Ali, CEO of Next Capital, the initial fund size is Rs18.75bn which may go up to Rs80bn after foreign rounds.

The agreement was signed by Aamir Irshad, Head of Corporate & Investment Banking HBL and Ali Jameel, Head of TPL Group.

It is prudent to mention that this new development of the real estate under the REIT structure might open new avenues for the masses to invest with safety.

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