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