ISLAMABAD: Indonesian companies are exploring possibility of investment to develop real estate projects in Pakistan.
Pakistan Ambassador to Indonesia, Mian Sanaullah said on Tuesday that two Indonesian companies - Pelangi Property and Indo Property have been invited by Pioneer Associates in Pakistan to hold discussions over prospects for development of a new sector of CDA in Islamabad.
Ambassador Sanaullah said in Jakarta that this was the first time that Indonesian real estate developers have been approached by Pakistan for technical cooperation and financial investment with possibility of entering into joint ventures.
According to a message received here, the Indonesian companies in recent past have developed new residential areas in big and small cities to accommodate its fast growing middle class.
In comparison with prices, Pakistani market would be lucrative for Indonesian investors and may emerge as an additional avenue of cooperation between already growing economic relations between the two countries.
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