Bank Al Habib Limited (BAHL) has planned to buy one of the towers of Karachi Centrepoint from its owner TPL Properties Limited.
The bank has entered into a sale and purchases agreement with TPL properties Limited, according to the official announcement made by these two companies to PSX. Centrepoint is located off Shaheed-e-Millat Expressway near KPT Interchange, Karachi.
The transaction would be subject to the completion of necessary formalities and obtaining all necessary approvals and consents.
Centrepoint is designed by the region’s leading team of professionals as a 385 ft. high landmark.
The 28 story building offers state-of-the-art facilities including built-in IT infrastructure, international standards of security and fire safety, 9 floors of dedicated parking, and an in-house independent power generation unit. Additionally, Centrepoint also features a health club, swimming pool, coffee bar and luxurious reception spaces with offices of renowned entities such as Silk Bank, MCB Arif Habib, etc.
TPL Trakker, a sister organization, got listed at Pakistan Stock Exchange and raised over Rs. 800 million. The group is apparently witnessing a financial crunch with debts piled up, however, the businesses of the group are sound enough to phase off the loans to become profitable again.
Photo Credits: Adnan Ahmed