First National Equities Limited (FNEL) announced on Friday that its subsidiary, FNE Developments (Private) Limited, has officially commenced operations. Brecorder.com claims that the development disclosed in a PSX notice issued.
According to the statement, the move marks FNEL’s formal entry into Pakistan’s infrastructure and real estate development sectors. The company said the subsidiary will focus on undertaking large-scale projects in collaboration with stakeholders from both public and private sectors.
In its filing, the PSX-listed company added that the expansion would help diversify its business portfolio and create new opportunities for growth in one of Pakistan’s largest sectors.
The notice highlighted that the subsidiary specifically set up to work on infrastructure and real estate projects, signaling a long-term strategy for value creation.
Details from the PSX Notice
The PSX notice stated: “This expansion will diversify FNEL’s business portfolio and unlock new avenues of growth, positioning the company at the forefront of value creation.”
Market watchers said this move reflects a growing trend among PSX listed companies entering the real estate sector to broaden revenue streams.
First National Equities Limited is a limited liability company incorporated in Pakistan under the Companies Ordinance, 1984 (now Companies Act, 2017). Its principal activities include shares brokerage, consultancy services, and portfolio investments.
