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KARACHI: A conglomerate of Real Estate companies from the United Arab Emirates will invest USD 20 to 25 billion in the real estate industry of Pakistan.

This was announced by a strong delegation of various UAE-based Pakistani Real Estate companies including ALMIR, Habib Group, and Mark Stone led by Advisor to Government of Pakistan for Overseas Pakistanis in Gulf countries Sardar Qaiser Hayat.

Addressing the meeting, Advisor to the Government of Pakistan for Overseas Pakistanis in Gulf countries Sardar Qaiser Hayat said that investment from real estate companies of UAE in the construction industry of Pakistan would bring prosperity in Pakistan and Pakistanis would get international standard residential facilities.

He said ABAD was also assisting the government in formulating policies for the development of the construction industry.

Chairman ABAD Asif Sumsum has welcomed this initiative and announced full support for the economic development and prosperity of Pakistan.

He said the investment of USD 25 billion from UAE companies would bring economic revolution in Pakistan. He assured the provision of complete facilitation and support to UAE realty groups for materializing their projects.

Sumsum said the lack of over 12 million housing units coupled with increasing urbanization and population growth had created ideal opportunities for international real estate developers to undertake mass housing and construction projects in Pakistan.

Copyright Business Recorder, 2023

Comments

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Asad Nov 11, 2023 05:32pm
The money that was LOTED from, returned to us as a favor, is being lined up to be taken from us again.
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cool Nov 11, 2023 07:16pm
so now UAE will milk Pakistanis of whatever is left... DHA and Bahria will be out of business soon
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Pakistani1 Nov 11, 2023 09:03pm
What are the chances of these firms being owned by Pakistanis directly or indirectly line the IPPS?
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Az_Iz Nov 12, 2023 06:59am
You hear these great investment news all the time. Will anything materialize?
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Mir Yaqoob Ali Nov 12, 2023 04:32pm
Any housing scheme in Pakistan if you want to success and transparent please don't include ABAD. It a gange of robbers and protect their benefits. Can you tell me the name of single member of ABAD who fulfill his comments?
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