UAE prop­erty de­vel­oper to in­vest $500m in Pak­istan hous­ing sec­tor

Pakistan Observer - - ECONOMY WATCH -

SALIM AHMED LA­HORE—A high level del­e­ga­tion from one of the big­gest names in the real estate busi­ness in the Gulf, Tameer LLC is vis­it­ing Pak­istan to ex­plore the busi­ness op­por­tu­ni­ties in low cost hous­ing sec­tor of Pak­istan. The hous­ing sec­tor in Pak­istan is fac­ing se­vere short­age of more than 7 mil­lion houses with an ad­di­tion of over 300,000 ev­ery year to this back log as per the es­ti­mates given by the Min­istry of Hous­ing & Works. The main af­fectees of this short­age are the medium to low-in­come groups who are un­able to af­ford their own hous­ing at the preva­lent rates of the real estate in Pak­istan.

“We see this as an op­por­tu­nity “said Salah Al Talal, Gen­eral Man­ager of busi­ness de­vel­op­ment at Tameer; “there is a big gap be­tween the sup­ply and de­mand of hous­ing in the Pak­istan mar­ket. Our goal is to close this gap by pro­vid­ing af­ford­able hous­ing to peo­ple in the lower to mid­dle in­come groups in the mar­ket” said Talal. Tameer is a well known name in the Gulf re­gion and have done sev­eral projects in Bahrain, Saudi Ara­bia, Kuwait and Africa. The com­pany aims at pro­vid­ing low cost hous­ing us­ing mod­ern tech­nolo­gies and sus­tain­able ma­te­ri­als to be able to pro­vide af­ford­able hous­ing for the masses.

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