Real estate in Pakistan is the growing industry from the past few decades. It helps to bring growth in Pakistan’s economy. Almost $5.2 billion per year is spent on the sector of real estate.
But from past years, due to political instability and economy downfall, we see a decline in the growth of the real estate industry. Investors are not coming to Pakistan as they are not sure about the future of investment.
According to the Pakistan Bureau of Statistics, construction output accounts for 2% of GDP. With the rate of urbanization that Pakistan has been experiencing, there is a growing need for urban planning. Source Wikipedia
According to FPCCI (The Federation of Pakistan Chambers of Commerce and Industry), real estate agents are playing an essential role in the economic development of the country. Source Wikipedia
There has been seen a construction growth by 2%, which can increase more with the real estate agents and developers.
After 2010, there has been seen an increasing demand for properties in Pakistan. Due to increased growth in the purchasing and selling of the properties, the interest rate has risen by developers and investor.
To meet the demand, the government of Pakistan made some new policies in 2012, where they announced a reduction in interest rates on mortgage loans. Some largest real estate societies in Pakistan are:
- Bahria Town
- Defense Housing Authority
- Capital Development Authority
- Lahore Development Authority
- Habib Rafiq (Pvt) Ltd
Bahria town- a private real estate company founded by Malik Riaz Hussain. It is now considering Asia’s largest real estate developer, and the iconic development of this town does not need any introduction or elaboration.
Almost 75,000 employees are working in the Bahria real estate sector of different cities, and total assets are the US $25 billion.
The first chapter started from Rawalpindi is now extend to Lahore and Karachi too. Bahria town includes a variety of options like houses, plots, villas, commercial area, restaurants, golf clubs, hospitals.
Defense Housing Authority
DHA is a nationally recognized corporate sector and one of the largest real estate project which comes under the administration of the Pakistan Army. This housing society aimed to provide housing facility for retired and currently working military persons.
This society provides innovative and luxurious designs in the construction of the houses. It offers complete infrastructure and essential facilities. DHA till now has developed to all major cities of Pakistan like
Capital Development Authority
CDA started in 1960 is a public corporation which is responsible for the municipal services. CDA has three primary responsibilities.
- Restate management
- Project execution
- Development of sectors
This authority has developed many housing sectors from I-9 to E-12. Later’s announcement is that CDA is planning to establish a residential area in sector E-12.
CDA Management had announced in February this year to initiate development activities on stalled sectors. Consequently, the oldest industry stalled has been taken up first and development work shall now become a reality, a CDA official said. SOURCE The International News
Lahore Development Authority
LDA is another real estate developer working in Lahore. This authority was developed in 1975. It aims to improve the development of the houses with new facilities and give an outside service to the people of the Lahore. Some of the major and prominent societies developed and managed by LDA are:
- Model Town
- Johar Town
- Faisal Town
- LDA city
Thus, the goal is too high the standard of people living in the Lahore.
Habib Rafiq (Pvt) Ltd
Habib Rafiq Ltd has done many projects in Pakistan like building dams, motorways, highways and many others. This company has been working from the last 50 years in the field of Aviation, housing, design and environmental areas.