TPL REIT Fund I has made a strategic investment of Rs. 7.1 billion in a technology zone.
According to a stock filing, TPL REIT Fund I has completed its acquisition of the initial portfolio of real estate assets after completing the acquisition of land for the Tech Park project by way of acquiring a 100 percent stake in TPL Technology Zone Phase I (Pvt) Ltd.
TPL REIT Fund I has completed its acquisition of the real estate assets after completing the acquisition by way of acquiring a 100 percent stake in TPL Technology Zone Phase I from TPL Properties Limited against the issuance of 162.5 Million REIT units. This transaction has completed the strategic investment of Rs. 7,100 million in the Fund by TPL Properties Limited, the filing said.
Real Estate Investment Trust (REIT) is not a new way for attracting investment in properties however the trend has increased in recent months as more players are moving to raise funds through this instrument.
