Bank Makramah Limited has completed the sale of its remaining stake in Cullinan Tower, formerly known as Summit Tower, in Karachi for a total consideration of Rs. 12 billion.
According to a material information disclosure submitted to the Pakistan Stock Exchange on September 2, Bank Makramah said the transaction involved the remaining sale consideration related to the Cullinan Tower property, located at Plot No. G-2, Block 2, Scheme 5, Clifton, Karachi.
The bank said it had received the total sale consideration of Rs. 12 billion, confirming that the transaction had been successfully concluded.
The disclosure was made under Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book. It follows the bank’s earlier disclosure on August 1, 2025 regarding the sale of the property.
The completion of the transaction provides Bank Makramah with Rs. 12 billion in proceeds from the property sale as the bank continues efforts to strengthen its financial position.
