TPL RMC and UAE-Based Telco Want to Buy Telecom Towers in Pakistan

TPL REIT Management Company Limited (TPL RMC) and UAE-based mobile telecom operator TASC Towers have made a bid for a Telecom Tower Infrastructure Company – owner and manager of ~10,500 operating towers in Pakistan– via an infrastructure real estate investment trust (REIT).

According to a stock filing, one of the largest national financial institutions is supporting the proposed acquisition by providing debt structuring advisory and arrangement services.

The Consortium is a synergistic partnership between TPL RMC and TASC with a vision to strengthen Pakistan’s digital infrastructure and support the rapidly growing digital economy, read the stock filing.

TPL RMC is the pioneer and operator of the largest mixed-use real estate asset class REIT in Pakistan and is a wholly owned subsidiary of TPL Properties.

TPL Group (including PSX-listed companies TPL Corp, TPL Insurance and TPL Properties), has been attracting institutional and strategic investors to Pakistan and this transaction will result in significant foreign direct investment. The proposed acquisition is being supported by one of the largest national financial institutions which is providing debt structuring advisory and arrangement services.

TPL RMC intends to leverage its parent company, TPL Properties Limited’s real estate development, and management expertise to fill the gap in Pakistan’s real estate market.

TASC, headquartered in the UAE, is a global leader in mobile telecom tower operations, having deployed and managing over 14,000 towers across multiple geographies.

  • With 14,000 towers one cannot be global leader. Indus towers, India owns 188,000 towers and 338,000 colocation.
    News says Telenor is selling tower business but public hype is they are cellular business.

  • close