KARACHI:
Pakistan Telecommunication Company Limited (PTCL) has announced the sale of a prime property located on I.I. Chundrigar Road in Karachi, one of the city’s most sought-after commercial corridors. The sale will be conducted through a transparent and competitive bidding process.
The 13,583-square-yard (approximately 27 kanal) plot, situated adjacent to Jang Press, boasts a corner location with a 500-foot frontage on I.I. Chundrigar Road. Given its prominent positioning, the site is considered ideal for iconic commercial developments, high-end office spaces, and luxury residential projects.
PTCL is inviting expressions of interest from individuals, firms, and corporate entities, with the deadline for offer submissions set for May 31, 2025.
Industry observers note that the sale reflects PTCL’s ongoing strategy to unlock value from non-core assets and strengthen its balance sheet. The company has in recent years undertaken several initiatives aimed at enhancing operational efficiency and focusing on its core telecommunications and digital services businesses.
The sale of this high-profile asset is expected to attract significant attention from real estate developers and investors, given the plot’s location in the heart of Karachi’s financial and commercial district.
