FNEL subsidiary teams up with Hashoo, Neelishang to develop Pearl Resorts in Pakistan

First National Equities Limited (FNEL) announced on Wednesday that its subsidiary, FNE Developments (Pvt.) Ltd will undertake a landmark real estate and tourism project at Pearl Resorts in collaboration with Neelishang Hills and Hashoo Group, envisioned as Pakistan’s premier hill station and flagship luxury destination.

The company informed this in a notice to the Pakistan Stock Exchange (PSX) today.

It said that Pearl Resorts is envisioned as Pakistan’s premier hill station and flagship luxury tourism destination and the project is expected to “generate robust and recurring revenue streams, positioning FNEL to capture significant value creation over the long term”.

“This collaboration firmly establishes FNE Developments (Pvt.) Ltd. at the forefront of transformative real estate ventures, underscoring FNEL’s strategic shift into high-growth sectors with the potential to materially enhance shareholder returns,” the company told the bourse.

On September 12, FNE commenced operations, marking the parent company, FNEL’s formal entry into the country’s infrastructure and real estate development sectors

First National Equities Limited is a limited liability company incorporated in Pakistan under the Companies Ordinance, 1984 (now the Companies Act, 2017).

The principal activities of the company include share brokerage, consultancy services and portfolio investments.