PTCL confirms no extension to bid deadline for prime Karachi property

LAHORE: Pakistan Telecommunication Company Limited (PTCL) on Wednesday confirmed that the sale of one of its premier real estate assets on II Chundrigar Road, Karachi, will proceed according to the announced timeline.

PTCL recently invited bids from potential investors, setting May 31, 2025 as the final date for submission. In light of the strong investor interest, the company has decided not to extend the bidding deadline. The company is authorised to undertake the sale or monetisation of its real estate assets in accordance with applicable laws and following all necessary approvals. Properties deemed non-essential to PTCL’s operations have been legally reviewed and cleared for disposal. The property currently up for sale is free of encumbrances, legally owned by PTCL, and supported by complete documentation.