Crescent Star Insurance Limited (PSX: CSIL) has announced that it is currently conducting due diligence and negotiating the potential acquisition of a property located in Phase 8, DHA Karachi.

In a notice issued to the Pakistan Stock Exchange (PSX) on Wednesday, the company disclosed that the estimated value of the property stands at approximately Rs. 400 million.

The transaction is being considered as an investment opportunity and remains subject to the finalization of terms and approval by the company’s Board of Directors, according to the official statement.

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CSIL also noted that further information will be shared as significant developments unfold.

Crescent Star Insurance Limited provides non-life general insurance services, including coverage in areas such as fire and property damage, marine, aviation and transport, motor, credit and suretyship, accident and health, and miscellaneous insurance lines.