TPL REIT & TASC Towers Bid to Purchase Telecom Tower Infrastructure Company

Pakistan’s TPL REIT Management Company Ltd (RMC) and TASC Towers, a mobile telecom tower operator based in the UAE, have submitted a bid for the acquisition of Telecom Tower Infrastructure Company. The latter owns and manages approximately 10,500 operating towers in the country. TPL RMC, a subsidiary of TPL Properties Limited, informed the Pakistan Stock Exchange (PSX) of the development yesterday.

In September, TPL RMC and TASC Towers formed a strategic alliance for the acquisition of a telecom tower infrastructure company. The notification issued to the exchange described the consortium as “a collaboration with a mission to develop Pakistan’s digital infrastructure and promote its rapidly expanding digital economy.”

The announcement stated, “TPL Group (including PSX-listed firms TPL Corp, TPL Insurance, and TPL Properties) has been drawing institutional and strategic investors to Pakistan, and this deal would result in substantial foreign direct investment.”

TPL REIT & TASC Towers Bid to Purchase Telecom Tower Infrastructure Company

According to the corporation, one of the major national financial institutions is supporting the planned purchase by offering debt structuring guidance and arrangement services. TPL REIT is the biggest Shariah-compliant Development Impact REIT Fund in Pakistan, with an anticipated final size of Rs80 billion to be funded by local and international investors.

Earlier in March, TPL RMC acquired Rs18.35 billion in its first financing round for TPL REIT Fund I. The firm intends to benefit from the real estate development and management skills of its parent company, TPL Properties Limited, and fill the void in the Pakistani real estate market.

TASC, with its headquarters in the United Arab Emirates, is a significant global operator of mobile communication towers, having deployed and operated over 14,000 towers across numerous regions.

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