Pakistan Real estate news and information
Federal Board of Revenue eyes jackpot in Islamabad property audit In an exercise to determine the amount of money pouring into real estate investments in the federal capital, the Federal Board of Revenue has struck upon… Read More »Islamabad property audit
PR Real estate agents have demanded the government to announce a general amnesty scheme for investors in real estate across the country without further delay to stop investment outflow to UAE and other countries of… Read More »Real estate agents demand amnesty scheme for investors
cancels NOC of another three The Capital Development Authority’s (CDA) Housing Societies’ Directorate on Thursday declared two housing schemes illegal and cancelled no objection certificates (NOCs) granted to three others. The two housing schemes… Read More »CDA declares two housing schemes illegal
UBS report predicts collapse of house prices in West Bahria Town says annual production capacity stands at around 350000 units against the demand of 800000 which provides better than ever investment opportunity By Sabir Shah… Read More »Real Estate business is booming in Pakistan
Associated Press of Pakistan Residents of Sector I-8/2 of Islamabad, adjacent to a small market and the Abu-Huraira Mosque in street no 58 have expressed concern over the mushroom growth of graves and the lack… Read More »A unique tale of land grabbing in Islamabad
A consortium of private builders and developers has launched the much-awaited low-cost housing schemes for the low and middle-income groups in Pakistan that are partially being financed by the World Bank. Various governments, including the… Read More »Low cost housing scheme in Islamabad & Karachi
Capital Development Authority (CDA) is likely to launch Overseas Pakistanis Housing Scheme measuring 10,000 kanal of land in the areas including Kurri Model Village, Kurri Road and Agro Farm Scheme. CDA’s Member Land Khushal Khan… Read More »CDA plans to launch housing society for overseas Pakistanis
Reuters
LAHORE: Pakistani real estate giant Rafi Group made a 10-fold profit last year from its sale of hundreds of acres of land in the remote fishing town of Gwadar, acquired soon after the government announced plans for a deep-sea port there.
The windfall came after 12 years of waiting patiently for the Gwadar port to emerge as the centerpiece of China’s ambitious plans for a trade and energy corridor stretching from the Arabian Gulf, across Pakistan, into western Xinjiang.
“We had anticipated the Chinese would need a route to the Arabian Sea,” Rafi Group Chief Executive Shehriar Rafi told Reuters. “And today, all routes lead back to Gwadar.”
Gwadar forms the southern Pakistan hub of a $57-billion China-Pakistan Economic Corridor (CPEC) of infrastructure and energy projects Beijing announced in 2014.
Since then, land prices have skyrocketed as property demand has spiked, and dozens of real estate firms want to cash in.
“Gwadar is a ‘Made in China’ brand and everyone wants a piece,” said realtor Afzal Adil, one of several who shifted operations from the eastern city of Lahore in 2015.
Last year, Pakistan welcomed the first large shipment of Chinese goods at Gwadar, where the China Overseas Ports Holding Company Ltd. took over operations in 2013. It plans to eventually handle 300 million to 400 million tons of cargo a year.Read More »Land rush around Pakistan’s Gwadar port triggered by Chinese investment
The realty sector, one of the major investment avenues suffered a huge setback in the middle of 2016 after the federal government decided to determine the fair market value of properties being bought and sold by people and collect taxes accordingly.
The first six months of the calendar year were in fact encouraging as markets had started recovering from the phase of subdued growth. Of these, the Karachi market needs a special mention as it was earlier performing below par because of the repercussions of terrorism and bad law and order that had dogged the city for years.
A modest improvement in the real estate market of Pakistan’s biggest metropolitan city rekindled investor confidence with huge demand coming from domestic investors, overseas Pakistanis and to some extent international investors.Read More »When Pakistan real estate got a jolt
PR KARACHI, 5-DECEMBER-2016: Recently it has become official that Lahore is safer than Karachi when it comes to overall crime and city-wide safety. The findings come from a November 2016 report by Numbeo where the… Read More »Paying a Premium to Live Safely in Lahore?