Pakistan Property Exhibition could see $7 million in deals
The popular real estate expo’s second edition will be held on the sidelines of IREIS 2016 in the capital
The value of a country’s real estate assets constitutes as much as 60-70 per cent of its total wealth, according to the World Bank. Bearing this in mind, Pakistan’s property sector is estimated by industry experts to be valued at close to $400 billion (Dh1.47 trillion).
Non-resident Pakistanis (NRPs) remitted $19.9 billion during 2015-16 to Pakistan, according to a July report by the State Bank of Pakistan, with UAEbased NRPs sending home $4.36 billion. Up to 20 per cent of remittances were pumped into Pakistan’s real estate sector, according to research reports released in 2015 by Zameen. com, one of the country’s largest property portals.
The Pakistan Property Exhibition in Abu Dhabi will help channel this money into some of the country’s most lucrative realty markets.
Hosted by Dome Exhibitions, the second edition of the expo, being held concurrently with the International Real Estate and Investment Show at Adnec from Thursday to Saturday, is expected to attract the UAE’s wealthy NRP community.
“Every year, thousands of NRPs visit Pakistan in the hopes of finding that perfect property to call home, and a considerable amount of time, money and effort is often wasted with expats being unable to find the right investment opportunity at the right place,” says Omar Mudassar, Market- ing Manager at Dome Exhibitions. “The Pakistan Property Exhibition brings leading developers and agents from Pakistan who resolve these complexities and facilitate the entire process from sales to registration,” he adds, revealing why the first edition of the show last year was a success.
“Inaugurated by Khalifa Bin Salem Al Mansouri, Acting Undersecretary of
We’re happy to announce that we are participating as a VIP Sponsor in the second edition of the Pakistan Property Exhibition at IREIS in Abu Dhabi. G Marketing brings initiative and creativity to construction in Karachi and other cities in Pakistan as a specialist consultancy and delivers creative marketing solutions. Abu Dhabi has a vibrant Pakistani expatriate community [that] holds promise, and we believe we can help customers here at each and every step in their quest to choosing their dream home in Pakistan.” Imran Ahmed General Manager of G Marketing, VIP Sponsor of the Pakistan Property Exhibition
the Department of Economic Development in Abu Dhabi and Abu Dhabi Securities Exchange, the support from NRPs was well received in the inaugural three-day exhibition in October last year, registering more than 7,000 visitors, who contributed to deals worth $4.7 million,” says Mudassar.
The Pakistan Property Exhibition also hosted its first International Pakistan Property Conference at the show, an event initiated by the Pakistan embas- sy in the UAE. Attended by the trade commercial consul of the embassy, Habib Ahmed, Director of Defence Housing Authority, Brigadier Arif Kiani and leading lights from Pakistan’s real estate sector, the forum discussed the trends, opportunities and challenges faced by the industry.
This year’s edition brings in the big guns, who expect to wrap up deals in the region of $7 million. An initiative supported by the Ministry of Housing Pakistan, and the Pakistan embassy in the UAE, the show is also backed by the Pakistan Business Council, Federation of Chamber of Commerce and Industry Pakistan and Builders Association of Pakistan, the expo will see leading developers and agents from major cities including Karachi, Lahore, Faisalabad, Rawalpindi, Islamabad, Multan, Peshawar, Bahawalpur, Quetta and Gwadar in attendance. More than 20 exhibitors, including Star Marketing, Value Marketing, G Marketing, Midas and Construction Star will participate in the show.
While lucrative deals are a given, there’s more in store for visitors to the show this year with a raffle draw throwing open a basket of goodies including a prime house plot, return airline tickets, gold coins, electronics and home appliances for grabs.
“The Pakistan Property Exhibition is a platform for the UAE’s expat Pakistani community to evaluate and clinch the right property deals without having to bear the expenses of international travel,” says Antoine Georges, Managing Director of Dome Exhibitions.
It’s also a golden opportunity for the country’s realty sector to build lasting relationships. “Pakistan’s property developers get to showcase their best projects and through lucrative offers gain the trust and goodwill of prospective customers. It’s win-win,” he adds.
The last edition of the exhibition gave us immense success in terms of market exposure and increase in sales volume, [which is] why we are back this year. We have some prime projects that we plan to present at the show including Gulberg Greens, Islamabad, LDA City, Lahore, Buch Housing, Multan, Palm Residency, Karachi and Mangla View Resorts, Mangla.”