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Pakistani developers look to NRPs in UAE

Pakistan's real estate industry continues to evolve as companies try to resolve real estate complexities in order to increase its growth, experts have revealed.
Factors such as federal budget, law amendments and the introduction of the Real Estate Investment Trust influenced the advancement of the industry. According to reports, investors have pulled out money from several banks in Pakistan after the introduction of 0.3 to 0.6 per cent withholding tax on filers and non-filers on tax returns. These components, along with the rise of safe property investment bets in various parts of the country and abroad, encourage Pakistanis and Non-Resident Pakistanis (NRPs) to invest in valuable long-term investments compared to short-term purchases.
Showcasing the change in the industry, this year's International Real Estate & Investment Show brings the third Pakistan Property Exhibition in Abu Dhabi. The specialised event, held with the support of the Pakistan Embassy, Pakistan Business Council and Pakistan Association Dubai, showcases the country's leading developers and realty agents under one roof to showcase the best options for investment, provide spot sales and learn about the leading insights into the market. Visitors can expect to see properties from cities including Islamabad, Lahore, Karachi, Gwadar, Gujranwala and many more.
"Studies have continuously shown new global trends that the real estate market in Pakistan is tapping into. Apart from new demographic movements, Pakistan has also witnessed a heavy intercity migration over the last five years due to security and economic benefits that specific cities offer," said Antoine Georges, MD of Dome Exhibitions. "The International Real Estate Exhibition Show enables Pakistanis to secure homes and investment properties in their country by bringing the opportunities to them through the Pakistan Property Exhibition. The specialised pavilion aims to attract more than 10,000 Pakistani investors from the UAE."
Held in the Abu Dhabi National Exhibition Center from November 2-4, the exhibition enables Pakistan's realty giants such as DHA, Model Housing Lahore, New Lahore City and Bahria Town to showcase the latest properties available for aspiring buyers. Real estate and investment companies will also have the chance to market their products to Pakistani investors through well-tailored marketing strategies made available by marketers such as Athar Marketing, Star Marketing, Midas Group and Q&A Marketing and more.
- business@khaleejtimes.com