Pubali Bank is set to acquire Bengal Group of Industries’ 26-storey Swiss Tower located at Tejgaon-Gulshan Link Road in Dhaka for Tk800 crore. The development was revealed through a price-sensitive information disclosure approved by the bank’s board and published on Tuesday.
According to the disclosure, the property is situated at 208, Tejgaon Gulshan Link Road. However, the proposed transaction will require approval from Bangladesh Bank and other relevant regulatory authorities before completion.
The building is currently being developed by Bengal Hotel and Resort, a concern of Bengal Group of Industries, for the planned five-star Swissôtel Dhaka project. Sources said the group has decided to sell the site to Pubali Bank instead of continuing with the hotel development plan.
The acquisition, once approved, will mark a significant real estate investment by Pubali Bank and add a major commercial property to its portfolio. The move is expected to strengthen the bank’s infrastructure capacity while reflecting the growing importance of strategic property investments in the financial sector.
Further details regarding the purpose of the acquisition and future plans for the property are expected after regulatory approvals are received and the transaction process progresses.