Welcoming the incentives announced by the federal government for 'Real Estate Investment Trust', CEO Tricon Developers, Asif Kamal has said that this endeavour of the government would provide an opportunity to small investors to make investment in the real estate.
Addressing a press conference here on Tuesday, Kamal lauded the government for announcing new initiatives in the proposed budget for 2007-08 for encouraging and promoting the corporate sector of Pakistan.
He claimed that consistent and stable economic policy of the government and creation of investment-friendly atmosphere had restored the confidence of the investors across the globe in Pakistan.
He also praised the government for paying attention for promoting the real estate sector. He claimed that the government would also be initiating low-cost housing projects for overcoming the shortage of houses in the country.
Replying to various queries, he suggested the government to take steps for overhauling the whole system of housing and construction sector. He was of the view that a committee should also be constituted for re-framing the rules, procedure and effective monitoring of the real estate sector.
Talking about the qualities of their projects, he said that they would soon be launching a low-cost housing scheme besides commercial projects. He said that they had ensured not to use more than 50 percent of the land of their projects for construction to give more green areas.
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