Through an infrastructure real estate investment trust, TPL REIT Management Company Limited (TPL RMC) and UAE-based mobile telecom operator TASC Towers have launched a bid for Telecom Tower Infrastructure Company, owner and manager of about 10,500 operational towers in Pakistan (REIT).
One of the top national financial institutions is assisting the planned purchase by offering advising and arrangement services for debt structuring, according to a stock filing.
According to the stock filing, the Consortium is a collaborative effort by TPL RMC and TASC with the aim of bolstering Pakistan’s digital infrastructure and assisting the country’s burgeoning digital economy.
TPL RMC, a fully owned subsidiary of TPL Properties, is the founder and manager of Pakistan’s biggest mixed-use real estate asset class REIT.
Significant foreign direct investment will emerge from this acquisition since TPL Group, which includes the PSX-listed firms TPL Corp, TPL Insurance, and TPL Properties, has been luring institutional and strategic investors to Pakistan. One of the biggest national financial institutions, which is offering debt structuring advising and arrangement services, is supporting the proposed purchase.
To close the gap in Pakistan’s real estate market, TPL RMC plans to take use of the real estate development and management experience of its parent business, TPL Properties Limited.
With over 14,000 towers placed and managed throughout several regions, TASC, with its headquarters in the UAE, is a world leader in mobile telecom tower operations.
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