KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has accorded approval to TPL REIT Management Company Limited.

According to material information sent to Pakistan Stock Exchange, TPL REIT Management Company is 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 Rs 18.35 billion to be raised from local investors and ultimately the target fund size of Rs 80 billion to be raised from local and international investors.

The company shall now get the trust deed registered under the Sindh Trust Act, 2020 and subsequently get the REIT scheme registered with the SECP, it added.

Copyright Business Recorder, 2021