KARACHI: A new regional office of the United Bank Limited (UBL) — a leading bank of Pakistan, is set to be established in Karachi’s Naya Nazimabad, on an area of 14,092 square yards.
The bank has acquired a commercial plot to build the regional office, it said in a statement.
Naya Nazimabad is located at the cusp of District West and Central of the city. 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 utilise 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 organisations shall follow suit for timely capitalisation of opportunities in terms of acquiring strategic locations for their operations.
