TPL Properties sells three projects to TPL REIT Fund I

MG News | March 22, 2022 at 03:43 PM GMT+05:00

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March 22, 2022 (MLN): The shareholders of TPL Properties have approved to sell three projects of the company to TPL REIT Fund I in lieu of units to hold a strategic shareholding of at least 35% in the REIT Fund, company’s filing on bourse showed today.

As per the notice, these three projects include; HKC (Private) Limited (One Hoshang), TPL Technology Zone Phase-1 (Private) Limited and National Management & Consultancy Services (Private) Limited (The Mangrove).

TPL REIT Fund I, is a fund established under TPL REIT Management Company Limited to specifically pool the investment in respect of certain projects.

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