KARACHI, December 6, 2024: TPL Properties (TPLP), a leading institutional real estate developer and manager, has shared its plans for expansion and future projects during its analyst briefing. The company reported a loss per share (LPS) of Rs 7.18 for FY24, compared to an earnings per share (EPS) of Rs 5.18 in FY23, primarily due to an unrealized loss on investments in TPL REIT Fund-I, caused by a change in the valuation method.
In its strategic projects, TPL Properties is making significant strides. The construction of One Hoshang, a luxury residential project under TPL Developments, is progressing, with 39% of construction completed. The project is scheduled for completion by FY26.
Additionally, TPLP plans to sell the land associated with its Technology Park, with the proceeds to be distributed as dividends to unit holders. The technology park will be relocated to the Mangroves development zone to further enhance its growth potential.
Looking to expand its portfolio, TPLP is also exploring the development of a 4MW data center. Initial studies are underway to evaluate the land’s suitability and the operational feasibility of the center.
In a bold move, TPL Investments is planning a high-end 48-villa resort project in the Maldives, with an estimated project cost of USD 130 million. The project is expected to deliver an internal rate of return (IRR) of around 25% and is scheduled for completion by the fourth quarter of FY27.
TPL Properties’ strategic focus on expanding its real estate portfolio and tapping into international markets demonstrates its commitment to long-term growth and value creation for its stakeholders.
