Pakistan telco Jazz has sold its tower portfolio for $560 million to Engro Connect, a subsidiary of Engro Corp.

In total, Engro has acquired around 10,500 towers managed and operated by Veon-owned Jazz.

Pakistani publication Dawn has reported that Jazz has become the first telco in the country to sell its telecom towers business. The unit called Deodar has now been acquired by Engro.

Founded in 2018, Engro is an Islamabad-based network infrastructure company.

As part of the deal, Jazz will still pay rent for all the cell sites installed at these towers to Engro Connect.

“As we pivot to a digital-first future, this milestone enables us to remain asset-light while doubling down on what we do best — delivering impactful, tech-driven solutions for Pakistan’s evolving needs,” said Jazz CEO Aamir Ibrahim.

Jazz uses 14,500 towers across Pakistan, though the remaining 4,000 are connected via Edotco cell towers.

It’s estimated that there are 50,000 towers across the country, which is served by four towercos. Saudi-based Tawal recently set up a Pakistani subsidiary to serve the market.

The decision to sell telecoms infrastructure such as towers or stakes within tower company subsidiaries has been a common strategy implemented by telecom companies across the world.

Jazz is the biggest mobile operator in Pakistan, with more than 70 million mobile subscribers.