By Rafiq Vayani
DUBAI/KARACHI: United Bank Limited (UBL) – a leading bank of Pakistan, has acquired a 14,092 sq. yards commercial plot in Naya Nazimabad, Karachi, to build its regional office. Naya Nazimabad is located at the cusp of District West and Central of Karachi. The area is a major hub for the professional talent pool of the city and represents the largest enrolment at the city’s educational institutions.
Naya Nazimabad is a master-planned gated community designed for integrated living for the middle and upper middle strata of Karachi. This transaction marks a major transformational addition to its character as now office space shall be added to its portfolio of residential, retail, social and entertainment related assets.
This acquisition will allow UBL to attract professional talent from the area and utilize it more effectively. Its strategic location will substantially reduce the travel time and related stress for its employees. This is also likely to be, economically, highly effective for the bank. The plot is in close vicinity of world class retail, sports and social amenities.
This acquisition highlights the foresightedness of UBL’s leadership and its commitment and its capacity to play a lead role in development and progress. It is anticipated that more professional and progressive organizations shall follow suit for timely capitalization of opportunities in terms of acquiring strategic locations for their operations.
