The Company was established in 2006 but remained dormant until the commissioning of Packages Mall - 2017, followed by the development of office spaces leased to major corporate clients.

The Parent Company, Packages Limited, own/occupies a land parcel of approximately 100 acres at the Walton Road of Lahore, and leased out 52 acres to the Company to facilitate commercial real estate activities.  Of this, Packages Mall was developed on nearly 30 acres, including 11 acres dedicated to mall areas. Office spaces were constructed on 3 acres, leaving the Company with a significant land bank for future expansion.

The Company's real estate project, widely known as The Packages Mall, along with office spaces leased to Nestlé Pakistan and British American Tobacco (BAT). The mall features around 200 retail outlets, a food court hosting 30 international and local restaurant chains, and a multiplex cinema. Currently operating at full capacity (~100% occupancy), the Company is focusing on expansion, which is being developed to accommodate additional retail outlets. Additionally, discussions are underway with several corporate clients regarding office space leases.

The Mall was commissioned in 2017 at an estimated cost of PKR 13bln, with PKR 4 billion financed through equity, PKR 8bln secured from financial institutions, and the remaining amount contributed by the sponsor. As of CY24, both the sponsor's loan and the bank financing for the Mall have been successfully repaid.

The mall's key anchor tenants include Carrefour, a food court, and a multiplex cinema. Lease agreements vary among tenants; however, most are subject to an annual rental increase of 10%. At present, all retail spaces are fully leased.

Ali Group is recognized as one of the foremost industrial conglomerates in the country, with a diversified portfolio spanning multiple key sectors, including paper and paperboard, packaging, financial institutions, education, and real estate. With a strong legacy built over several decades, the Group has established as a strong player in the industry, upholding high standards comparable to top multinational corporations operating in Pakistan.

Ali Group’s business strategy is further strengthened by itsalliances with international joint ventures enhance its holding structure and reinforce its commitment to excellence, innovation, and sustainable growth.

Through strategic partnerships and continuous investment in its core industries, the Group has played a pivotal role in shaping the industrial landscape of Pakistan, fostering economic development, and creating employment opportunities.

The Company has no management committees in place. However, management accounts are discussed among senior management to review monthly activity.

Since September 2017, the Company has utilized Oracle 12.2.5, implemented by A.F. Ferguson & Co., as its enterprise resource planning (ERP) system. Reports covering revenues, project costs, marketing, and receivables are generated and submitted to senior management on a daily, weekly, and monthly basis, ensuring informed decision-making and efficient operational oversight.

To enhance operational efficiency, the Internal Audit Function is positioned at the Group level, where it plays a critical role in identifying, assessing, and reporting risks. This structure ensures independent oversight, strengthens internal controls, and supports risk management across the organization. Additionally the Internal Audit Department plays a crucial role in ensuring efficiency, transparency, and adherence to standard operating procedures within the Company. It conducts thorough evaluations of business processes to identify potential weaknesses, failures, and discrepancies through various tests and analyses. Following these assessments, a comprehensive report is submitted to the Board of Directors and other stakeholders, summarizing key findings. Internal audit reports across all departments are well-documented, incorporating management response action plans and follow-ups, with risks categorized based on a structured risk rating mechanism to enhance governance and decision-making.

In FY24, Pakistan’s real estate sector navigated a challenging landscape marked by high interest rates, sluggish construction activity, and project delays. Despite these hurdles, the sector saw a turnaround as macroeconomic stability improved, supported by monetary easing, controlled inflation, a stable PKR, and increased foreign reserves. Additionally, government measures to formalize the economy, expand the tax base, and regulate the foreign exchange market further bolstered market confidence. Pakistan’s rapid urbanization and young population present long-term growth opportunities, yet economic constraints such as high CPI inflation (24.52%) and elevated interest rates (19.5%) have limited sectoral expansion. The office real estate market remained robust, with MNCs and local businesses sustaining high occupancy in Grade A buildings. The co-working and hospitality sectors rebounded, while industrial real estate witnessed growing demand for warehouses. In contrast, the residential segment struggled, as investor activity slowed. As 2025 unfolds, the real estate market is undergoing a transformation, fueled by economic recovery, policy shifts, and changing buyer preferences. Interest rates have dropped to 12%, with expectations of further reductions to 9%, complemented by a stable currency and controlled inflation, making real estate an increasingly attractive investment avenue. Urban development is evolving rapidly, with smart city initiatives, integrating energy-efficient infrastructure, advanced security systems, and smart housing solutions to cater to modern buyers. There is rising demand for mixed-use developments that blend residential, commercial, and recreational spaces, reshaping urban planning. Simultaneously, the commercial real estate sector is also set for expansion.

Packages Real Estate Pvt Ltd has significantly strengthened its presence in Pakistan’s retail and commercial real estate sector through its flagship venture, Packages Mall. Strategically located at the company's Lahore site, Packages Mall stands as one of the largest and most prestigious shopping malls in the country, featuring a diverse mix of local and international retail brands, a state-of-the-art food court, and modern entertainment facilities, including cinemas. The mall has positioned itself as a premier shopping and leisure destination, catering to a wide consumer base. Beyond retail, Packages Limited has successfully ventured into commercial real estate, offering premium office spaces leased to multinational corporations (MNCs) and leading local businesses. The company's substantial land bank provides further opportunities for expansion, strengthening its long-term growth prospects. Future developments on this prime real estate could include commercial, residential, or mixed-use projects, ensuring continued value creation. The competitive landscape in Lahore's retail and hospitality sector is evolving, with Emporium Mall by Nishat Group and the recent entry of Dolmen Mall intensifying market competition. Additionally, Nishat Group’s hospitality business, including high-end hotels adjacent to its retail ventures, adds another layer of competition by offering an integrated shopping and lodging experience. Despite this, Packages Mall maintains a distinct advantage due to its strategic location, strong brand portfolio, and comprehensive retail and entertainment offerings as well as extensive land holdings.

The Company’s revenue is derived from a diversified business model spanning three key segments:

1.      License Fee & Rental Income – Primarily generated from leasing commercial spaces within Packages Mall and office rentals.

2.      Service & Management Charges – Comprising fees for managing and maintaining the mall and associated facilities.

3.      Advertisement & Parking Income – Revenue from advertising within the mall premises and parking fees collected from visitors.

The Company has demonstrated consistent revenue growth at an CAGR of approx. 13%, reaching PKR 6.01bln in CY24, up from PKR 5.3bln in CY23 (CY22: PKR 4.5bln, CY21: PKR 3.2bln). This increase is driven by a higher occupancy rate , due to the opening of new outlets and rental escalations in response to inflationary pressures, reflecting the strong demand for commercial spaces and sustained growth in the Company’s real estate portfolio.

The Company manages its working capital requirements through a mix of internal cash generation and short-term borrowings from banks. The borrowing limit stands at PKR 3.5bln, with 74% utilized as of CY24. Given the nature of its business, the Company does not require inventory holdings, and its working capital primarily revolves around trade receivables. Over the years, it has maintained a strong position in working capital management through effective administration of debtors and creditors. As a result, the Company’s receivable days remain stable at 12 days, ensuring efficient cash flow management. Meanwhile, trade payable days increased to 7 days in CY24, up from 5 days, reflecting an extended payment cycle that supports liquidity without straining supplier relationships.