Islamabad, September 2024 — IMARAT Group has entered into a strategic partnership with the International Dispute Resolution Institute (IDI) to offer clients and investors a faster, more effective way to resolve disputes. The collaboration, marked by the signing of a Memorandum of Understanding (MoU), seeks to expedite the resolution of contractual disagreements through mediation, in line with the Alternate Dispute Resolution (ADR) Act 2017. This initiative will enable the resolution of conflicts without the delays and expenses of traditional legal processes, providing a win-win solution for all parties involved.
The signing ceremony was attended by key representatives from both organizations, including Adil Aziz Qazi, Chairman of IDI, Barrister Zophas Khan, Co-Chair of IDI, Usama, Faizan Jamal, the focal person, as well as IMARAT Group’s senior management.
Under this agreement, IMARAT Group will leverage IDI’s mediation services to settle disputes related to agreements and contracts in a swift and cost-effective manner. The ADR Act, implemented in Islamabad in 2017, provides a legal framework for resolving conflicts through mediation, which avoids the need for costly and time-consuming court hearings. Once a mediation settlement is reached, it is legally binding and submitted to the court, ensuring that all parties are satisfied with the outcome.
Adil Aziz Qazi, Chairman of IDI, commented on the partnership, stating, “Mediation is a crucial tool for industries like real estate where swift resolutions are needed. Our partnership with IMARAT Group will not only benefit the company but also create confidence among local and international investors by providing a quicker, more efficient way to settle disputes. This will set a new standard for legal support in Pakistan’s real estate market.”
IMARAT Group’s decision to adopt mediation as a legal solution showcases its commitment to providing value to the real estate sector by protecting the interests of its clients and investors. This move is particularly beneficial for overseas investors who may be unfamiliar with the complexities of Pakistan’s legal system. The partnership with IDI, which represents the UK’s Society of Mediators in Pakistan, will ensure that all disputes are resolved in a professional and efficient manner.
Shafiq Akbar, Chairman of IMARAT Group, emphasised the importance of this partnership, saying “IDI aligns perfectly with IMARAT’s core values of bringing about revolutionary and efficient solutions for client satisfaction.This endeavor supports our broader objectives of benefiting people and contributing to Pakistan’s growth”
Group Director, Farhan Javed, expressed his views on the initiative, adding, “At IMARAT Group, we are committed to bringing innovation and value to the real estate market. This partnership with IDI allows us to offer our clients a legal solution that is not only faster but also more cost-effective. By providing mediation services, we aim to enhance the trust people place in us and create a more transparent real estate environment.”
The partnership will serve to streamline IMARAT’s operations, benefiting not just the company but all parties involved, including clients and investors. The use of mediation will reduce the time spent in legal proceedings, allowing for quicker and more amicable resolutions.
IMARAT Group and IDI are confident that this collaboration will set a new benchmark for dispute resolution in Pakistan’s real estate industry, helping to foster trust and encourage further investment in the market.
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https://imarat.com.pk/
