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KARACHI: Juwai IQI Holdings (Juwai IQI) and Maymar Housing Services Private Limited have signed a memorandum of understanding (MoU) with the aim of exploring and collaborating on a potential joint venture to bring the Juwai and IQI brands and real estate platforms to the Pakistani market.

Through the MoU, Juwai IQI also grants Maymar the exclusive right to use the Juwai and IQI brands and represent them in Pakistan. The MoU is the result of clear synergies between Maymar's existing township operations and wider real estate development business in Pakistan and Juwai IQI's real estate agent network under the IQI brand, as well as the company's Juwai.asia, the first global property portal for Asian buyers.

A potential joint venture between the two companies will result in a market-leading collaboration - linking Pakistani and international buyers in the Asian markets to real estate opportunities in the country through an established online platform. It will contemporaneously offer sale and post-sale services and thus provide a complete end-to-end solution for both local and international consumers seeking to invest in the rapidly growing Pakistani real estate market.

IQI and Maymar believed that the joint venture will go a long way in contributing to the economic development of Pakistan while simultaneously supporting the Government of Pakistan's efforts in expanding the housing and real estate sector of the country.

Juwai IQI has headquarters for its various operations in Kuala Lumpur, Malaysia and in Hong Kong and Shanghai, China. The company also operates Juwai.com, the largest Chinese marketplace for overseas property, and Juwai.asia, a global portal for Asian buyers outside of the Chinese market.

Copyright Business Recorder, 2020