Min­is­ter sees huge for­eign inv’t in hous­ing sec­tor

The Pak Banker - - 2national -

IS­LAM­ABAD: Fed­eral Hous­ing Works Min­is­ter Rehmat­ul­lah Kakar Mon­day said the coun­try's hous­ing in­dus­try is poised for huge in­vest­ment op­por­tu­ni­ties led by a de­mand for over 8 mil­lion hous­ing units from the bur­geon­ing pop­u­la­tion.

"We fore­see greater for­eign di­rect in­vest­ment which has al­ready picked up in the coun­try, hav­ing con­trib­uted nearly 30 per cent to the over­all in­vest­ment recorded in the hous­ing sec­tor dur­ing the last five years," the Min­is­ter said while talk­ing to UAE Emaar Pak­istan del­e­ga­tion headed by Matt Cronje, Coun­try Gen­eral Man­ager.

The Min­is­ter ob­served that growth in for­eign di­rect in­vest­ment had been fu­elled by pro-in­vest­ment poli­cies and the pos­si­bil­ity of good re­turns and eco­nomic gains in the hous­ing sec­tor which had been a ma­jor fac­tor be­hind in­ter­na­tional play­ers fur­ther ex­pand­ing their op­er­a­tions in the coun­try.

He added that boost­ing the hous­ing sec­tor will con­trib­ute sig­nif­i­cantly to eco­nomic sta­bil­ity and also help cre­ate new em­ploy­ment op­por­tu­ni­ties for the youth.

He ap­pre­ci­ated the in­vest­ment of Emaar in the coun­try's hous­ing sec­tor and hoped it will set an ex­am­ple for more for­eign in­vest­ment in this in­dus­try.

The Emaar del­e­ga­tion briefed the Min­is­ter about their con­struc­tion ac­tiv­i­ties across the world and in Pak­istan. They said the in­vestors could ben­e­fit from the tremen­dous in­vest­ment op­por­tu­ni­ties in Pak­istan's hous­ing projects for the mu­tual ad­van­tage. -App

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