Real estate is an important and growing sector of Pakistan. Despite, its issues such as hyperinflation, stagnant growth, balance of payments crisis, reckless fiscal policy and its worst ever energy crisis, the real estate market’s outlook remains positive. Real estate prices have reached record highs, especially in developed cities like Lahore and Islamabad where the security situation remains intact. The government realizes the role of overseas Pakistanis in its economic development and hence in order to facilitate their investment in Pakistan, Finance Minister, Ishaq Dar, has set aside two sectors in Islamabad for overseas Pakistanis for which payments would be made in foreign currency. Hence, overseas Pakistanis can be assured that their investment is secure and the process is transparent.
Pakistan Real Estate
Moreover, as the industrial sector has already been adversely affected by the energy crisis, the real estate industry is attracting all the investment. This sector is undergoing major development works and as observed by Lamudi, posh localities like DHA, Bahria Town, Lake City, Gulberg Greens have set new bars for housing societies. These areas are equipped with state-of-the-art infrastructural facilities such as in-town schools, colleges, clubs, shopping centers, parks, mosques, health-care centers and thus all overseas Pakistanis who want to invest in their home country, have a golden opportunity to buy properties here and enjoy all these luxurious services. Moving on, even in Karachi where there is a lot of political instability, overseas Pakistanis especially those from North African countries where civil unrest is taking place are investing in DHA Karachi, in its phases 6 & 8.
Additionally, foreign investors are also being attracted to the booming real estate sector of Pakistan and this can be witnessed through the recent construction contract between a U.S Mogul, Thomas Kramer, and CEO of Bahria Town, Malik Riaz, to construct an island city by the name of Bodha Island City in Karachi. It will take about 5-10 years for construction and will require an estimated influx of about $ 20 billion. Hence, this investment further endorses the fact that Pakistan’s realty sector is an investment hotspot for foreign investors and overseas Pakistani’s.