Karachi August 9 2021: Share Holders of TPL Properties authorize the Company to make further equity investment, by way of purchase, of PKR 250 million in the subsidiary company, HKC (Private) Limited, as per notice issued at Pakistan Stock Exchange (PSX).
HKC is 90 percent owned by TPL Properties and company acquired this stake back in 2017.
For the purpose of giving effect to abovementioned resolution, the Board of Directors of the Company be and is hereby authorized to negotiate and decide, from time to time, terms and conditions, to execute such documents, deeds, writings, papers and / or agreements as may be required and do all such acts, deeds, matters and things, as it may in its absolute discretion, deem fit, necessary or appropriate and settle any questions, difficulty or doubt that may arise in this regard.
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HKC, project SPV for One Hoshang, is Pakistan’s one of a kind premium-end luxurious residential apartment tower and showrooms with world class amenities. 31 semi- furnished premier luxurious apartments to be constructed on one floor one Unit Concept and multiple retail showrooms on the ground floor. International Consultants including Squire & Partners. 1508 London and Atelier Ten undertaking project design. So far, Land is acquired along with finalization of concept and schematic design. Project detailed design is also completed while regulatory approvals are in process and tender documents is being prepared.