TPL Corp, BoP ink investment financing & construction loan

24
Observer Report

Lahore

TPL Corp, one of Pakistan’s leading conglomerates serving diverse fields like Real Estate, Security and Insurance amongst numerous others, has inked an agreement with Bank of Punjab (BoP) to finance the establishment of multiple real estate projects including Sindh’s first Technology Park, Pakistan’s first Gold LEED certified ultra-luxurious residential project “One Hoshang” and TPL Properties upcoming master planned community project & investment in group subsidiaries.

An agreement to this effect was signed on at Centrepoint, TPL’s Head office in Karachi between the respective parties.

Ali Jameel, CEO, TPL Corp signed the agreement with Mr. Zafar Masud – President & CEO BOP, while other senior members from both teams were also present.

Pakistan has been cementing its position globally as one of the largest exporters of tech services in the Asian region.

The country has enormous potential but at the same time a significant lack of relevant resources makes it difficult for many individuals as well as organizations to excel in their respective fields. TPL Corp aims to change this by building the first ever IT Park in the province of Sindh.

A 10,002 square yard plot has been acquired for the purpose and Bank of Punjab has extended financing for the project.

BoP has approved a total of PKR 4.5 billion which will be utilized for fund development of the Technology Park as well as One Hoshang and will also allow land acquisition for TPLP’s upcoming master planned community project.

Moreover, the amount will also be used to invest in TPL subsidiaries for future growth opportunities.

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