KARACHI: TPL Properties Limited has announced that TPL REIT Management Company Limited (TPL RMC), a wholly owned subsidiary of TPL Properties Limited, has successfully secured its first funding round of Rs18.35 billion for its TPL REIT Fund I with firm investment commitments in place with all initial investors.

The acquisition of the initial three assets (held through SPVs) from TPL Properties (as the strategic investor in the Fund) against cash consideration and issuance of REIT Units is targeted to be completed within next 30 days, material information sent to Pakistan Stock Exchange on Thursday said.

Copyright Business Recorder, 2022