TPL REIT Fund I considers divestment from HKC

TPL REIT Fund I has announced that it is evaluating a potential divestment from HKC (Private) Limited through the sale of land associated with its Project-B One Hoshang development. The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “We are pleased to inform you that TPL REIT Fund I (Fund) has decided to undertake the potential disposal/divestment from HKC (Private) Limited (HKC), through the sale of the project land (Project-B One Hoshang).” “The proposed transaction remains subject to the execution of definitive agreements, receipt of all requisite corporate, regulatory and third-party approvals, and completion of necessary formalities and processes by the Fund and the SPV in accordance with the constitutive documents of the Fund and applicable laws,” read the notice.