On May 17, TPL Properties and Bank Al Habib said they had successfully completed the sale and transaction of the TPL’s main “Centrepoint” project, which is located on the Shaheed-e-Millat highway near KPT Road, Karachi. the creation – it is a consequence of the earlier notice the company sent to PSX on August 20, 2020, in which Bank Al Habib said it had decided to buy the building.
TPL Properties is the property arm of TPL Corp Ltd., a technology conglomerate that today focuses on automotive, fire, life and health insurance, real estate development and security services. TPL Properties Limited was incorporated in Pakistan as a private limited company in February 2007. Later in 2016, the company changed its status from a private limited company to a public limited company.
Center point incidentally is, quite literally, the center of TPL’s ambitions. This is one of the biggest developments in the real estate sector of Pakistan. Some facts about the building: the 28-story Centrepoint, 385 feet high, and was built on 26,226 square feet of land. It has 197,810 square feet of rentable space, with offices on 17 floors (from the 11th floor to the 24th, and the 26th and 27th floors).
The building is considered a major TPL property project and was built accordingly, with facilities such as a built-in IT infrastructure, international safety and fire safety standards, nine floors of dedicated parking, and an internal independent power generation unit. The high, which according to TPL was intended for a “luxury company”, also has a health club, a swimming pool and a café.
Here’s the problem: the company managed to share information with the cafeteria, not the actual valuation and sale price.
For more information on the real estate sector of the country, keep reading Feeta Blog.