First National Equities subsidiary collaborates with Neelishang Hills and Hashoo Group for Pearl Resorts development

First National Equities Limited (FNEL) has announced a major development in its subsidiary FNE Developments (Pvt.) Ltd., which is set to embark on a large-scale project at Pearl Resorts, in collaboration with Neelishang Hills and Hashoo Group.

In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, FNEL revealed that the project, aimed at establishing Pakistan’s premier hill station and luxury tourism destination, is expected to generate significant and recurring revenue streams over the coming years.

“We are pleased to announce that FNE Developments (Pvt.) Ltd., a subsidiary of First National Equities Limited (FNEL), has embarked on a landmark development at Pearl Resorts in collaboration with Neelishang Hills and Hashoo Group,” read the notice sent to the local bourse. 

This announcement follows an earlier disclosure on September 12, in which FNEL revealed the commencement of operations of its wholly owned subsidiary, FNE Developments (Private) Limited, marking its entry into the infrastructure and real estate development sectors.

Pearl Resorts is envisioned as Pakistan’s premier hill station and flagship luxury tourism destination. “This large scale, multi-year project is expected to generate robust and recurring revenue streams, positioning FNEL to capture significant value creation over the long term,” the company said.

This strategic collaboration is part of FNEL’s broader efforts to pivot towards high-growth sectors, with a focus on long-term value creation for its shareholders. 

The project is set to become a flagship development for FNEL, positioning it at the forefront of transformative real estate ventures.

FNE Developments (Pvt.) Ltd, established to manage large-scale projects, aims to collaborate with both public and private sector stakeholders to drive significant value in one of Pakistan’s largest and fastest-growing industries.