Regent Plaza Hotel title officially transferred on complete payment

MG News | July 31, 2024 at 02:35 PM GMT+05:00

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July 31, 2024 (MLN): The SIUT Trust completed the payment of the remaining 10% balance for the sale of Regent Plaza Hotel to Pakistan Hotels Developers Limited (PSX: PHDL) on July 30, 2024, as PHDL informed the stock exchange today.

With this final payment, PHDL has officially transferred the property title to the SIUT Trust. The possession of the property had already been handed over to the SIUT Trust on July 1, 2024.

The company confirmed in its announcement that the full sale proceeds for the property have been received, with both the title and possession now transferred to the SIUT Trust.

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