During the Public Private Partnership Forum held at Cityscape Global,Shafiq Akbar, the CEO of IMARAT Group, emphasized the critical role thatoverseas Pakistanis play in the country’s economy. He highlighted thatapproximately 70% of remittances from overseas Pakistanis, amounting to USD12 billion annually, flow into the real estate sector. This underscores thecentrality of the real estate sector to Pakistan’s economic landscape, ARYNews has reported.
IMARAT Group, a leading real estate company in Pakistan, expanded itspresence into the GCC region by establishing an office in the UAE. Duringthe bustling Cityscape Riyadh event, Shafiq Akbar presented a compellingcase for high investment potential in Pakistan. His presentation wentbeyond corporate vision, addressing fundamental issues within Pakistan’seconomy and offering a comprehensive roadmap for economic revival, growth,and stability. This blueprint, known as ‘Vision 2047,’ encompasses awell-defined policy framework and a robust digital infrastructure designedto unlock Pakistan’s latent potential.
Shafiq Akbar’s vision, ‘Vision 2047,’ is supported by his successfulventures over the past seven years, which have leveraged technologies likeartificial intelligence, blockchain, and satellite technology. Theseendeavors have contributed to the rise of IMARAT Group, further solidifyinghis vision. IMARAT’s ecosystem, including Agency21, Graana.com, andPropSure Digital Solutions, forms a comprehensive network within Pakistan’sreal estate industry.
With a fully digitized record of all 4.5 million land parcels in Pakistanand extensive research on the nation’s 41 economic drivers, ‘Vision 2047’offers a tailored strategy to harness the country’s potential for growthand development. Shafiq Akbar noted that Pakistan’s demographic advantage,with a significant portion of the population aged between 15 and 29(surpassing the entire population of the UK), represents a tremendousopportunity. This youthful demographic’s need for new homes could translateinto an annual housing investment potential of USD 40 billion, amounting toan astonishing 3 to 4 trillion USD over the next two decades.
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In his address at Cityscape, Shafiq Akbar commended Saudi Arabia for itsreal estate model, which has laid the foundation for transforming itseconomy. He expressed the aspiration to replicate this successful model inPakistan, charting a course toward sustainable economic growth in thecountry
