Bank Al Habib Buys Centrepoint Building in Karachi

Bank Al Habib Limited (BAHL) has purchased the high-rise building of Karachi Centrepoint from its owner TPL Properties Limited.

According to stock filing, the bank has completed the sale and purchase transaction from TPL Properties and is likely to shift its head office in this building located in the prominent commercial place, Shaheed-e-Millat Expressway, near KPT Interchange, Karachi.

The transaction was approved duly by the concerned regulatory authorities. However, the parties did not disclose the amount to the shareholders at this point.

Centrepoint is designed by the region’s leading team of professionals as a 385 ft. high landmark.

The 28-story building offers state-of-the-art facilities, including built-in IT infrastructure, international standards of security and fire safety, 9 floors of dedicated parking, and an in-house independent power generation unit.

Additionally, Centrepoint also features a health club, swimming pool, coffee bar, and luxurious reception spaces with offices of renowned entities such as Silk Bank, MCB Arif Habib, etc.

The former owner TPL Properties Limited was looking to raise funds to strengthen up the financial health of the business and operations. Hence it sold out the flagship project to one of the profitable banks of the country.

Source: Pro Pakistani