SECP registers TPL REIT Fund I as Hybrid REIT scheme

MG News | December 24, 2021 at 10:21 AM GMT+05:00

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December 24, 2021 (MLN): TPL Properties Limited (TPLP) has announced on Friday that the Securities and Exchange Commission of Pakistan (SECP) has approved and registered the REIT scheme namely DCCL Trustee –TPL REIT Fund I, as a Hybrid REIT scheme, the company filing on PSX showed.

Upon approval of the scheme, the company is now aiming to attain financial close shortly.

“We shall keep our shareholders updated with respect to any further updates by making further announcements as and when the transaction progresses,” the notice said.

To recall, on Dec 1, the regulatory authority had accorded its approval for selling the TPLP’s developmental assets to TPL REIT Management Company Limited (TPL RMC), with a target fund size of Rs80 billion to be raised from local and international investors. To note, TPL RMC is a wholly-owned subsidiary of TPLP.

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