Bank Al Habib Buys CenterPoint Building in Karachi

Bank Al Habib Limited (BAHL) has acquired its owner TPL Properties Limited for the Karachi Centrepoint building.

According to the stock record, the bank concluded its sales and purchasing transaction with TPL Properties in this prominent commercial building, Shaheed-e-Millat Expressway, near KPT Interchange, Karachi. This will likely transfer its headquarter.

The deal was properly authorized by the regulatory bodies concerned. But the parties at this stage did not communicate the sum to the shareholders.

Centrepoint is a 385 ft high point of reference built by the leading team of experts in the country.

The 28-story building provides modern services, including integrated IT utilities, international protection, and fire safety codes, nine floors of dedicated car park, and an internal independent power generation unit.

Centrepoint also has a fitness club, pool, coffee bar, and luxury reception spaces with offices of renowned companies including Silk Bank, MCB Arif Habib, etc.

In order to improve the financial stability of the company and operations, the previous owner TPL Properties Limited had to collect funds. Therefore, the flagship initiative was sold to one of the country's profitable banks.