Real estate can drive Pakistan’s economy

[El Sidd]

Kattay to pehlay bhi paal rhay. Wo to is area ka oldest paisha ha. Cattle breeding and cattle chori krna

how the hell will you do this in a concrete jungle?

 

[El Sidd]

Population control kro.

jang karlo

 

[El Sidd]

Jang sa Kya hojaye ga?

log door daraaz ilaqon me bas jayenge pressure kam hojayega population ka.

220 million hain. aas paros kay mulkon me pay jao to create physical distancing

 

[El Sidd]

Cities main bahut ziada jayain log sparsely populated areas pehlay walay logon ko nhi paal sktay. And agricultural areas main land taqseem ho ho Kar bahut Kam hojaye gi small farmers ki to wo cities ko chalay jayain. Landless people to mairay khayal ziada tar pehlay hi James chukay hain.

kattay murghiyaan zameen per daurao wapis zarkhez hojayegi.

shehar me sirf pollution rakhi hai jo shinaakht mita deti hai. kia karoge shehar jakar

 

[Pakistani Fighter]

Population control kro.

Village walo ko bolo bache kam paida karein

 

[Pakistani Fighter]

Government ko kam ha. Aap k kitnay behen bhai Hain?

5
But us waqt zamana koi aur tha. Muhajir Log ab bache kam karte hain paida.
BTW in future apne husband ko bolna Bache Bus do hi Ache

 

[Pakistani Fighter]

Tum youngest ho?

Second Last

 

[jaibi]

For an imbalanced purchansing populace the real estate boom can be devastating. I think it'll be best to focus on services and indigenous manufacturing for raw economic power.

Real estate can drive Pakistan’s economy
Stakeholder stress updating laws, easing taxation to boost sector
Shahram HaqJuly 05, 2020

A Reuters file image.
KARACHI:
Real estate stakeholders have voiced unanimous hope that the realty segment could uplift Pakistan’s economy and assist in enhancing foreign direct investment if it receives due importance from the government.

Pakistan is one of the few countries in the world whose real estate sector has ample room to drive its economy because only 0.5% of the country’s area falls under planned land, said Graana.com Chief Executive Officer Shafiq Akbar.

Talking to The Express Tribune, he stated that at present, roughly 4,000 square kilometres of Pakistan’s land is classified as planned area out of a total 881,913 square kilometres occupied by the country.

“The total value of this planned land stands at roughly $2 trillion with the potential to further grow to $4 trillion if the country markets it properly,” Akbar said. He added that the demand for housing units over the next 10 years would stand at around 20 million units.

“Over five million jobs will be created in the realty sector and allied industries if the investment required to fulfil this demand comes from locals and abroad,” he said.

Citing World Bank’s research, Akbar said three out of every 10 jobs created in the construction sector are in allied industries hence there was a need for efficient policy-making and proper town planning because urban areas of Pakistan will grow as much as 68% by 2050.

Real estate sector has been the best investment hub for local and overseas Pakistanis for the past many decades as the country possesses massive amount of land. Currently, Pakistan ranks as the 33rd largest country by area, Akbar pointed out.

However following imposition of different taxes, this sector is tumbling. The incumbent government wants to promote the construction sector instead of real estate to lower housing unit shortages in Pakistan.

“Realty sector possess massive potential however countless challenges are hindering its growth,” he lamented. “Outdated laws, lack of regulations, complicated taxation, scarcity of entrepreneurship ecosystem, lack of public private partnerships, abundance of real estate related court cases and difficulties in real estate transactions discourage investors.”

According to industry experts, realty sector has gone from one of the best performing sector to being almost dormant in Pakistan.

He highlighted that people do not have proper information due to which they end up making dead investments most of the time.

As investments are dead and money changes hands frequently for profits, there is little job generation and the allied industries remain dormant or partly active.

Imarat Group of Companies Chief Development Officer Atif Masood was of the view that transformation of real estate sector through technology utilisation was the need of the hour. He further mentioned that laws on real estate are five to six decades old but the market has undergone rapid transformation therefore, there is dire need to update or amend the laws. Estate Agency 21 Director Sharjeel Ahmed said that in order to survive in an ever changing world of opportunities with the modern tech-hungry investor as your target, the only way forward is to keep evolving and growing to compete with global market trends.

“This sector is lucrative but corrupt practices at different levels starting from estate agents to government authorities have turned its market to doldrums.”

He said that strict implementation of laws and proper checks and balances can help get rid of people who loot investors by fear mongering.

Published in The Express Tribune, July 5th, 2020.

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[PakFactor]

Export driven industries comes from domestic talent which pakistan LACKS! The reason why Pakistan exports peanuts worth of goods to China is because China domestic industries offer much better solution for same goods. Unfortunately Pakistani society lags far behind from innovative ideas which even country like Vietnam is far ahead of Pakistan.
The only way forward is step by step and Pakistan should first fix its agriculture sector which seems to be stuck in 1800s.

Honestly, Pakistan doesn’t lack the talent or education. While I was in Pakistan after my Umrah earlier this year in Gujranwala alone what I saw amazed me textile mills operating from home (no joke), auto parts being molded in local shops, plastic parts being dyed/molded and shipped across Pakistan etc. a lot of these people didn’t have degrees or any sort of high qualification. We just need someone to set up the right infrastructure and revamp our department to integrate these locals into the mainstream economy.

Look no further than BECO which was established when Pakistan came into being the man was a marvel took people trained them and foreign leaders made trips there before seeing the Pakistani PM. Thanks to Bhutto nationalization it become PECO and they stripped the company down and sold its metal for pennies on the dollar.

For an imbalanced purchansing populace the real estate boom can be devastating. I think it'll be best to focus on services and indigenous manufacturing for raw economic power.

Correct a sudden market boom drags prices upwards level while incomes remain low — putting housing out of reach for many at inflated costs.

 

[blueazure]

agriculture country turned a concrete jungle.

isn't that enough? or there is salvation in housing scams?

where will people live ?

 

[AbuzarIlyas]

Only by giving the representation to the middle class and giving rights to the lower class can drive the economy of Pakistan. Otherwise same circle of debts will go on.

Unfortunately our politicians, generals and bureaucrats all think about their own classes and lifestyles. Our human resource is our biggest treasure which this ruling elite is neglecting from last many decades. Be it Musharaf, Nawaz, Benazir, Zardari, Imran or anyone. All think about their ministers and families of ministers. Nothing else!

We want the liberalism and modern ethics of Sweden, Australia and Canada but we don't give rights to the people which our dreamed states are giving

 

[El Sidd]

where will people live ?

on the farmland with kattay and murghi

 

[blueazure]

on the farmland with kattay and murghi

i like it

 

[El Sidd]

i like it

big cities are going to be extinct.

even China has stopped vertical expansions

 

[El Sidd]

Hamari to har city bari hoti ja rhi ha

because you keep selling farmlands and keep making concrete jungles.