Karachi December 27 2024: TPL REIT Fund I, wholly owned subsidiary of TPL Properties, has decided to divest from Project C- Technology Park through the sale of the project land by the Fund’s wholly owned subsidiary, TPL Technology Zone Phase I (Pvt.) Limited (Project SPV).
Sale of land will be followed by liquidation of the Project SPV, and distribution of the liquidation proceeds to the Unitholders.
The Transaction is subject to the execution of transaction documents, receipt of all corporate, regulatory and third party approvals and completion of necessary formalities and processes by the Fund and the SPV in accordance with the constitutive documents of the Fund and applicable laws.
The Project SPV is managed by the Fund, which operates under the management of TPL REIT Management Company Limited, a wholly owned subsidiary of TPL Properties Limited.
