TPL REIT Fund I to divest Technology Park Project

By MG News | December 27, 2024 at 12:18 PM GMT+05:00

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December 27, 2024 (MLN): TPL REIT Fund I has decided to divest from Project C-Technology Park through the sale of project land owned by its wholly owned subsidiary, TPL Technology Zone Phase I (Pvt.) Limited (Project SPV).

Following the sale, the Project SPV will undergo liquidation, with proceeds distributed to the Fund’s Unitholders.

The decision was disclosed in a notification to the Pakistan Stock Exchange by TPL Properties Limited.

The transaction is subject to the execution of required documents, corporate and regulatory approvals, third-party consents, and completion of necessary formalities in line with the Fund's constitutive documents and applicable laws.

The Project SPV is managed by TPL REIT Fund I, which operates under TPL REIT Management Company Limited, a wholly owned subsidiary of TPL Properties Limited.

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