November 11, 2020 (MLN): TPL Properties Limited (TPLP) through its wholly-owned subsidiary, has entered into an ‘Agreement to Sell’ dated 10th November 2020, for the purchase of Plot situated at Korangi Industrial Area, Karachi, to develop a Technology Park.
According to the notification to PSX, it is subject to the successful completion of the due diligence, the Company shall execute the Sale Deed and obtain possession within three months of the signing of the ‘Agreement to Sell’.
The Company plans to use this property to develop a Technology Park. The Technology Park will be the first of its kind of such scale in the Province of Sindh, with high-end technology facilities. Such a platform with high end IT infrastructure shall provide a platform to several IT sector companies across Pakistan. The timeline for the completion of the project is anticipated to be two years which includes the planning and designing phase.
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