In a positive economic development, Pakistan set to receive $25billion investment
In Karachi, a consortium of real estate firms from the United Arab Emirates is set to inject USD 20 to 25 billion into Pakistan's real estate sector. The announcement came from a robust delegation representing various UAE-based Pakistani real estate companies, including ALMIR, Habib Group, and Mark Stone, led by Sardar Qaiser Hayat, the Advisor to the Government of Pakistan for Overseas Pakistanis in Gulf countries.
During the meeting, Sardar Qaiser Hayat emphasized that the investment from UAE real estate companies in Pakistan's construction industry would usher in prosperity, providing Pakistanis with international-standard residential facilities. He noted that the Association of Builders and Developers (ABAD) was actively collaborating with the government to formulate policies for the construction industry's development.
Chairman of ABAD, Asif Sumsum, expressed a warm welcome to this initiative and pledged full support for Pakistan's economic development and prosperity. Highlighting the potential economic revolution, Sumsum stated that the USD 25 billion investment from UAE companies would be transformative.
He assured comprehensive facilitation and support to UAE realty groups in realizing their projects, pointing out that the shortage of over 12 million housing units, coupled with urbanization and population growth, created ideal opportunities for international real estate developers to engage in mass housing and construction projects in Pakistan.