United Bank Limited has decided to set up a regional office in Karachi’s Naya Nazimabad in a bid to attract talented people living in the area.

The bank, one of the the largest in Pakistan, has already acquired has acquired a 14,092 sq. yards commercial plot to build the regional office.

“The area is a major hub for the professional talent pool of the city and represents the largest enrolment at the city’s educational institutions,” the bank said in a statement

Naya Nazimabad is a master-planned gated community designed for integrated living for the middle and upper middle strata of Karachi.

“This acquisition will allow UBL to attract professional talent from the area and utilize it more effectively. Its strategic location will substantially reduce the travel time and related stress for its employees,” the statement added.

The bank also hopes the venture will be highly effective economically.

The location chosen for the regional office is in close vicinity of world class retail, sports and social amenities.

“This acquisition highlights the foresightedness of UBL’s leadership and its commitment and its capacity to play a lead role in development and progress. It is anticipated that more professional and progressive organizations shall follow suit for timely capitalization of opportunities in terms of acquiring strategic locations for their operations,” UBL said.