Islamabad, Dec 27: TPL REIT Fund I (PSX: TPLRF1) has announced its decision to divest from Project C- Technology Park through the sale of the project land. This will be carried out by the Fund’s wholly owned subsidiary, TPL Technology Zone Phase I (Pvt.) Limited. Following the sale, the project’s Special Purpose Vehicle (SPV) will be liquidated, and the proceeds will be distributed to the Unitholders.
Key Details:
- Transaction Process:
The divestment will proceed once the transaction documents are executed, and after the Fund and the SPV receive all necessary corporate, regulatory, and third-party approvals. The liquidation process will be conducted in compliance with the Fund’s constitutive documents and applicable laws. - Fund’s Objective:
TPL REIT Fund I aims to achieve long-term growth in Net Asset Value (NAV) and regular dividend distribution for its Unitholders. The Fund focuses on investing in sustainable real estate assets in Pakistan, contributing to its commitment to long-term value creation.
This move marks a significant step in TPL REIT Fund I’s strategic realignment as it continues to focus on sustainable real estate investments.
