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Real estate

Pakistan Real estate news and information

Growth potential of REIT schemes in Pakistan

A REIT Scheme is a closed end Mutual Fund which is established by a REIT Management Company to invite public money through Initial Public Offering to raise funds to develop Real Estate projects with an objective to earn capital gains or rental Income.
Pakistan being a developing country has large potential for development of Real Estate projects including housing schemes, commercial buildings, shopping malls and apartment buildings under REIT Scheme structure. With the development of REIT Schemes it would be possible for small investors to make investment in real estate which is currently not possible due to large investment required. Moreover, large foreign investment can also be brought in to Pakistan by providing foreign investors an opportunity to take exposure in real estate through REIT Schemes. Read More »Growth potential of REIT schemes in Pakistan

Pakistan Real Estate Industry

Real Estate is a promising and growing sector of the Pakistani economy. Pakistan spends $5.2 billion on construction in a year and according to the Pakistan Bureau of Statistics, construction output accounts for 2% of GDP. Recently, with the increase in the rate of urbanization, there has been a rise in the demand of residential properties.

Real estate developers are very much interested in buying land and developing residential communities. The major property developer players in Pakistan are more inclined towards international living standards and state of the art construction plans. New developments are underway with modern-day comforts, so that the residents get their true value for money. These projects feature in-town colleges, sports, commercial markets, healthcare facilities and sports centers. Wealthy buyers and sharp-sighted investors are heavily investing in these areas. The Pakistani Government is also taking steps to maintain the favorable returns of the real estate sector and hence dropped interest rates on mortgage loans. This has attracted many overseas Pakistani’s and foreigners who have hedged their investments in this sector to reap huge profits.Read More »Pakistan Real Estate Industry

CDA plans to establish commercial hub in Islamabad I-12

Alike other sectors of the Capital, Sector I-12 has many peculiarities due to its strategic location and the Capital Development Authority (CDA) has planned to establish state-of-the-art commercial hub of twin cities for promotion of trade and economic activities in the Federal Capital. This was stated by Chairman CDA, Syed Tahir Shahbaz while presiding a meeting here at CDA Headquarters on Tuesday, while reviewing progress on planning and design of commercial plots in Sector I-12. On this occasion, Member Planning and Design, Syed Mustafain Kazmi and concerned officers of Planning Wing were also present. He said that strategic location of Sector I-12 had its great significance as this sector was a gateway Read More »CDA plans to establish commercial hub in Islamabad I-12

World’s tallest building to be built in Karachi

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* Malik Riaz signs agreement with Abu Dhabi Group for $45 billion construction projects

ABU DHABI: Real estate magnate Malik Riaz Hussain has signed an agreement with Chairman of the Abu Dhabi Group, Union National Bank and United Bank Limited Nahyan bin Mubarak Al Nahyan, under which $45 billion will be invested in Pakistan for various construction projects, including contraction of the world’s tallest building in Karachi.

It would be the biggest and historical investment in Pakistan. The Abu Dhabi Group has previously made huge and successful investments in country with the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom. Out of the total investment, $10 billion will be invested in Islamabad and Lahore, whereas $35 billion investment would be made in Sindh. Read More »World’s tallest building to be built in Karachi

CDA cancels NOC issued to Roshan Pakistan housing scheme in Sector E-16

 

Islamabad: The Capital Development Authority (CDA) has cancelled the NOC issued for development of the Roshan Pakistan Housing Scheme in Sector E-16, as according to it, the planners of the project were not completing various formalities.

The CDA has informed the public and other concerned regarding cancellation of the No Objection Certificate (NOC) issued to the M/s Roshan Pakistan (RP) Corporation for development of Roshan Pakistan Housing Scheme in Sector E-16, Zone-II of Islamabad, with immediate effect. 

The CDA spokesman said that action had been taken by civic body because of non-completion of post-NOC formalities even after lapse of more than seven years after issuance of the NOC.Read More »CDA cancels NOC issued to Roshan Pakistan housing scheme in Sector E-16

Islamabad G-14 allottees concerned over delay in development work

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 The allottees of Sector G-14 of the federal capital have expressed concern over the inordinate delay in the development work of the sector.

 The allottees also pointed out the delay in the report of a commission about houses of affected people, especially complaints of construction of illegal houses and one-room structures.

 The Islamabad High Court (IHC) had formed the commission comprising District and Sessions Judge (r) Chaudhry Mazhar Hussain Minhas to probe into the matter.Read More »Islamabad G-14 allottees concerned over delay in development work