Karachi December 24 2021:The Securities and Exchange Commission of Pakistan has approved and registered the REIT Scheme namely DCCL Trustee –TPL REIT Fund I, as a Hybrid REIT Scheme.
Upon approval of the Scheme, the Company is now aiming to attain Financial Close shortly.
Earlier, Securities and Exchange Commission of Pakistan, by way of its Consent Letter dated, November 30, 2021, in terms of Regulation 3(c) of the REIT Regulations 2015, has accorded its approval to TPL REIT Management Company Limited (“TPL RMC”), a wholly owned subsidiary of TPL Properties Limited, for
the registration of the proposed trust deed “TPL REIT Fund I” under the Sindh Trust Act, 2020, with an
initial fund size of PKR 18.35 Billion to be raised from local investors and ultimately the target fund size of PKR 80 Billion to be raised from local and international investors.