In a notification issued to PSX, TPL Properties announced that they have been permitted by Securities & Exchange Commission of Pakistan (SECP) to form a Non-Banking Finance Company (NBFC).

The company will soon be applying for a Real Estate Investment Trust (REIT) management services license, according to their previously disclosed plan.

Earlier this year, in February 2018, TPLP notified PSX regarding their intention to venture into REIT Management business as an additional business segment in their property business portfolio.

The REIT management business will be a wholly owned subsidiary of the Company, as per the earlier announcement.

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