Pakistan Services completes disposal of real estate asset in Karachi

MG News | March 14, 2024 at 12:08 PM GMT+05:00

0:00

March 14, 2024 (MLN): Pakistan Services Limited (PSX: PSEL) has disposed of one of its real estate assets which was previously classified as a Non-current asset situated at Abdullah Haroon Road, Karachi held for sale.

The company made this closure through a notice to the Pakistan Stock Exchange (PSX) today.

It is crucial to note that the company is principally engaged in the hotel business and owns and manages the chain of Pearl Continental Hotels.

Furthermore, PSEL owns one small-sized property in Lahore operating under the budget hotel concept and also grants franchises to use its trademark and name “Pearl Continental”.

At the time of writing, the company’s scrip is trading at Rs849, reflecting a gain of Rs5 or 0.59% compared to yesterday’s close.

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