4,394 new real estate companies registered in FY 2020-21

ISLAMABAD: During the previous fiscal year 2020-21, 4,394 new companies were registered in the real estate and construction sector, according to a Security and Exchange Commission of Pakistan (SECP) Annual Report 2021.

The annual report stated that a total of 25,533 new companies were registered, with 68 percent registering as private limited companies, 29 percent as single-member companies, and 3 percent as public unlisted, not-for-profits, or foreign companies.

The real estate and construction industry took the lead with 4,394 new companies registered. The increase in companies in this sector goes synonymous with the country’s current widespread development and growth in infrastructure.

If the same trends continue, the current fiscal year will also see a similar increase in company registrations, especially in the real estate and construction sector.

The SECP approves any scheme of arrangement for small-sized and public sector companies that are directly or indirectly owned by the Federal Government.