In Karachi, a consortium of real estate firms from the United Arab Emiratesis set to inject USD 20 to 25 billion into Pakistan’s real estate sector.The announcement came from a robust delegation representing variousUAE-based Pakistani real estate companies, including ALMIR, Habib Group,and Mark Stone, led by Sardar Qaiser Hayat, the Advisor to the Governmentof Pakistan for Overseas Pakistanis in Gulf countries.
During the meeting, Sardar Qaiser Hayat emphasized that the investmentfrom UAE real estate companies in Pakistan’s construction industry wouldusher in prosperity, providing Pakistanis with international-standardresidential facilities. He noted that the Association of Builders andDevelopers (ABAD) was actively collaborating with the government toformulate policies for the construction industry’s development.
Chairman of ABAD, Asif Sumsum, expressed a warm welcome to this initiativeand pledged full support for Pakistan’s economic development andprosperity. Highlighting the potential economic revolution, Sumsum statedthat the USD 25 billion investment from UAE companies would betransformative.
Read Top Stories
He assured comprehensive facilitation and support to UAE realty groups inrealizing their projects, pointing out that the shortage of over 12 millionhousing units, coupled with urbanization and population growth, createdideal opportunities for international real estate developers to engage inmass housing and construction projects in Pakistan.