Bank Makramah Limited sells Cullinan Tower in Karachi

Bank Makramah Limited (BML) announced on Friday that it had received the down payment for Cullinan Tower, formerly Summit Tower.

The BML issued a notice to the Pakistan Stock Exchange today in this regard.

“We hereby convey that subsequent to the approval of the Bank Makramah Limited’s Board of Directors, in their previous meeting held on July 3, 2025, for the sale of Cullinan Tower (formerly Summit Tower) situated at Plot No. G-2, Block-2, Scheme-5, Clifton, Karachi, the Sale Purchase Agreement (SPA) has been executed today and down payment received thereagainst,” the notice read.

Recently, the BML had also announced significant capital injections alongside a major strategic asset sale.

On July 5, BML’s Board of Directors approved the sale of Cullinan Tower in Clifton, Karachi, for a confirmed offer of Rs 12 billion.