Karachi, September 2, 2026: Bank Makramah Limited (BML) has announced the successful completion of a major property transaction involving the Cullinan Tower, formerly known as Summit Tower, located in Clifton, Karachi.
In a disclosure submitted to the Pakistan Stock Exchange (PSX), the bank said it had received the total sale consideration of Rs12 billion for the property. With the receipt of the full consideration, the transaction has now been successfully concluded.
The disclosure was issued in accordance with Section 96 of the Securities Act, 2015 and the relevant provisions of the PSX Rule Book. It follows an earlier disclosure by Bank Makramah dated August 1, 2025, concerning the sale of the property.
The Cullinan Tower, formerly called Summit Tower, is situated at Plot No. G-2, Block-2, Scheme-5, Clifton, Karachi. The completion of the transaction marks an important step for the bank, as the full sale consideration has now been received.
The development was formally communicated to the Pakistan Stock Exchange by Bank Makramah’s Company Secretary, Assaad Rabbani, on September 2, 2026.
For investors and market participants, the disclosure provides clarity that the Rs12 billion transaction has moved beyond the earlier announcement stage and has now been financially concluded.
Key highlights:
- Company: Bank Makramah Limited
- Transaction: Sale of Cullinan Tower (formerly Summit Tower)
- Location: Clifton, Karachi
- Total consideration: Rs12 billion
- Status: Transaction successfully concluded
- Disclosure date: September 2, 2026
The completion of the transaction adds another significant development to Bank Makramah’s corporate and financial disclosures and provides shareholders with confirmation that the agreed sale proceeds have been received.
