WB Country Director briefed on the potential of Pakistan’s real estate sector

ISLAMABAD: World Bank Country Director for Pakistan, Patchamuthu Illangovan was briefed on the potential of the real estate sector to aid the growth of the country’s overall economy on his visit to ISE Towers REIT Management Company Limited (ISE REIT).

invest with imarat

Islamabad’s emerging city centre

Learn More

The country director was received by the Chairman ISE REIT Zahid Latif Khan along with other directors.

A detailed presentation focused on the potential of the country’s real estate sector was given by Director ISE REIT Aftab Ahmed Chaudhry. The visiting dignitaries were apprised of Pakistan’s real estate potential. They were informed that the country’s commercial real estate alone has an estimated valuation of US $1 trillion while the residential, industrial, agricultural and tourism-oriented real estate have separate valuation estimates. The framework to tap into this potential was defined to base around supportive taxation and regulatory frameworks for the real estate and the construction industries of Pakistan.

The country director was apprised of the wide-ranging reform process initiated by the current government aimed at cultivating the real estate economy and making the sector a leading contributor to the country’s overall development.

Aftab mentioned that infrastructure development initiatives under the two economic corridors of CPEC and CAREC have the potential of transforming Pakistan into an industrial and trade hub for the Central, South and Southwestern Asian countries. He said that the 9 Special Economic Zones (SEZ) under the CPEC will create the necessary boost in the construction industry.

Maham Tahir

Recent Posts

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

1 day ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago

Amma Tower: A Landmark in Urban Living & Commerce

Amma Tower, located in the bustling area of Saddar in Karachi, is a unique blend…

4 days ago