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