ISLAMABAD, JULY 31: On Wednesday, Pakistan Hotels Developers Limited (PSX: PHDL) declared that it has moved the Regent Plaza Hotel’s title to SIUT Trust.
In a notice to the Pakistan Stock Exchange (PSX), PHDL stated that, in accordance with the terms of the property sale agreement, the SIUT Trust had paid the company the remaining 10% of the proceeds from the sale on July 30, 2024, and the company had transferred the property’s title to SIUT Trust upon receiving the remaining amount.
It was emphasized that on July 1st, 2024, ownership of the land was already transferred to the SIUT Trust.
The notice stated, “The company through this announcement is confirming that the company has received the full payment of the sale proceeds of the property against which title and possession of the property has been transferred to SIUT Trust.”
