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Business & Finance TPLP (TPL Properties Limited) 9.49 Decreased By ▼ -2.57%

TPL Properties to build Technology Park in Karachi

  • The company informed that after the completion of the due diligence process, the company shall execute the Sale Deed and obtain possession within three months of the signing of the Agreement to Sell.
Published November 11, 2020

Pakistan’s real estate developer TPL Properties Limited has announced to build a Technology Park in Karachi, which will be the first of its kind of such scale in the province of Sindh.

“We are pleased to announce that the Company, through its wholly-owned Subsidiary, has entered into an agreement to sell dated 10th November 2020, for the purchase of Plot No. 25-B, measuring 10,002 Square Yards, situated at Sector 30, Korangi Industrial Area, Karachi,” informed TPL Properties in a statement on Wednesday.

The company informed that after the completion of the due diligence process, the company shall execute the Sale Deed and obtain possession within three months of the signing of the Agreement to Sell.

“The Company plans to use this Property to develop a Technology Park. The Technology Park will be the first of its kind of such scale in the Province of Sindh, with high end technology facilities.

“Such a platform with high end IT infrastructure shall provide platform to several IT sector companies across Pakistan. The timeline for the completion of the Project is anticipated to be two years which includes planning and designing phase,” the statement added.

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Kazim Nov 11, 2020 07:55pm
Great news, with good wishes. InShaAllah
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