Pubali Bank to acquire Bengal Group’s 26-storey Swiss Tower for Tk800cr

According to the bank, the property is located at 208, Tejgaon Gulshan Link Road. The transaction remains subject to approval from Bangladesh Bank and other relevant regulatory authorities.

Under-construction 26-storey Swissôtel in Dhaka, which Pubali Bank plans to acquire for Tk800 crore. Photo: collected

Pubali Bank PLC has announced its decision to purchase a 26-storey under-construction commercial building, known as Swiss Tower, for Tk800 crore.

The matter came to light through a price-sensitive information disclosure approved by the bank’s board that was published yesterday (22 July).

According to the bank, the property is located at 208, Tejgaon Gulshan Link Road. The transaction remains subject to approval from Bangladesh Bank and other relevant regulatory authorities.

Bengal Hotel and Resort, a concern of Bengal Group of Industries, is currently constructing a 26-Storey building for the five-star Swissôtel Dhaka in that area. But now they are selling the site to Pubali Bank instead of establishing the hotel, according to sources.

Source: The Business Standard