Bank Al Habib finally acquired one of the most expensive building in Karachi

  • by Admin
  • 5 months ago
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Bank Al Habib Limited (BAHL) announced that it has purchased ‘Centrepoint Building’ from TPL Properties, located in Karachi.

TPL Properties also notified to Pakistan Stock Exchange that “Further to our earlier disclosures of August 20, 2020 regarding sale of the Company’s flagship project “Centrepoint” located off Shaheed-e-Millat Expressway near KPT Interchange, Karachi, we are pleased to announce that the Company has successfully completed the sale and purchase transaction subsequent to the completion of all necessary formalities and obtaining of all necessary approvals and consents.”

‘Centrepoint’ is a high-rise building located on Shaheed-e-Millat expressway, opposite the KPT interchange in Karachi.

The company informed that after satisfactory due diligence, obtaining the requisite approvals and consents, completing the necessary formalities, and the execution of appropriate contracts, the parties have successfully completed the sale and purchase transaction for the Centrepoint Building.

The 28-story Centrepoint stands 385 feet high, and has been constructed on 26,226 square feet of land. It has 197,810 square feet of rentable space, with the offices on 17 floors (from the 11th floor to the 24th, and the 26th and 27th floor).

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 building is considered TPL properties flagship project, and has been built accordingly, with facilities such as built-in IT infrastructure, international standards of security and fire safety, nine floors of dedicated parking, and an in-house independent power generation unit.

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