Bangladesh, July 24 -- Pubali Bank's board has decided to purchase a 26-storey under-construction building and land on the capital's Tejgaon Link Road to establish its new corporate head office for Tk 800 crore.

The board, at a meeting held on July 22, approved the purchase of 95.10 decimals (57.64 kathas) of land along with the building, "Swiss Tower," which includes three basement floors.

The property is located on Bir Uttam Mir Showkat Sarak (Tejgaon Link Road), Dhaka, the bank said in a price-sensitive disclosure.

The cost includes income taxes but excludes VAT. The purchase remains subject to approval from Bangladesh Bank and other relevant regulatory authorities, the private bank said.

Shares of the bank declined 0.26 percent t...