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  For long-term investments, real estate is one of the safest options because of the stability of the market and demand for residential and commercial units. In Pakistan, too, investing in real estate is the most followed trend and the rising demand of units in the country has welcomed many new players in the industry. In a seminar titled “Construction and Housing For Sustainable Development” held in Dubai, Secretary Board of Investment (BOI) Fareena Mazhar encouraged investors to explore the housing industry of Pakistan. There were a few opportunities and incentives for real estate investors that were also discussed during the seminar and this is a summary of all those points. INCENTIVES FOR REAL ESTATE INVESTORS IN PAKISTAN Pakistan is facing a deficit of housing units In the past few years, a lot of investments in different sectors have been made by local and foreign investors. The incumbent government of Prime Minister Imran Khan is focused on making economic reforms, policy ch...

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ABBOTTABAD: Director General Kaghan Development Authority (KDA) Asif Khan has said an anti-encroachment drive would be launched to remove illegal constructions along the N-15 (expressway) and from the bed of River Kunhar to make the Kaghan and Naran valleys more attractive for local and foreign tourists. He was speaking during a meeting called by Hazara division commissioner Riaz Khan Mehsud here the other day. The KDA director general said owners of hotels and restaurants had been asked not to throw garbage into the River Kunhar. He said steps were afoot to protect the national parks in the valleys, manage traffic, rehabilitate the Karakoram highway and other roads. He said KDA would get R200 million grant in aid. He also briefed the participants about transfer of forest waste land, allocation of funds for establishment of a walnut oil extraction mill, tulip nursery, state-of-the-art rest areas in Malkandi and a school of fisheries and aquatics. The meeting was called following Prime ...

  Town Planning Wing of the Lahore Development Authority, during its ongoing drive against illegal construction and encroachments, demolished several structures and buildings in various housing schemes here on Tuesday Town Planning Wing of the  Lahore  Development Authority, during its ongoing drive against illegal construction and encroachments, demolished several structures and buildings in various  housing  schemes here on Tuesday. Special squads of TP Wing-V with the help of enforcement wing and  police  launched the operation. The squads used heavy machinery to demolish a number of illegally constructed shops along Raisins  Road  near Thokar Niaz Beg. Later, an operation clean-up was conducted in Mohlanwal  Housing  Scheme where several structures and a building were razed. Following the direction of authorities in  Punjab Government , the LDA launched crack down in private and  government   housing  schemes...

LAHORE: Despite tall claims of the government to protect green areas, grave concerns expressed by the civil society over consumption of the agriculture land for commercial purposes and court orders against it, hundreds of illegal housing schemes/projects already developed or being established currently on green areas, including about 230 such schemes in Lahore and its adjoining districts, are likely to be legalised/approved under a recent ordinance promulgated in the province. The move, it is alleged, is set to benefit the powerful land mafia, which succeeded in purchasing huge chunks of land in the green areas around Lahore and other divisions. The land mafia has developed or is in the process of developing housing schemes in violation of the land use rules and the cities’ master plans. After the promulgation of the ordinance, titled “The Punjab Commission for Regularization of Irregular Housing Schemes Ordinance-2021” on April 9, another related to squeezing the LDA’s jurisdiction to...

  LDA Demolishes Structures Of 12 Illegal Housing Schemes The Lahore Development Authority (LDA) Metropolitan Planning Wing Private Housing Scheme's squad Tuesday demolished structures in 12 illegal housing schemes at Shahzada Road and Ferozepur Road The  Lahore  Development Authority (LDA) Metropolitan Planning Wing Private  Housing  Scheme's squad Tuesday demolished structures in 12 illegal  housing  schemes at Shahzada  Road  and Ferozepur  Road . According to a spokesperson for the LDA here, the Authority demolished under-construction roads, sewerage system, green-belts and other infrastructure of  Al-Bashir Homes,  Al-Fajar City,  Al-Noor Park,  Chughtai Garden,  Engineer Park,  Hamza Town,  Ammad Garden,  Shaheen Garden,  Pearl Garden,  Naseeb Abad,  Kahna Canal View, and Al-Jannat Homes (Iqbal block). The LDA also sealed office of these illegal  housing  schemes.

AC Murree, Chairman DOPC retrieve land of US national from land mafia Rawalpindi   -  Assistant Commissioner Murree Muhammad Iqbal Sanghera Chairman District Overseas Pakistanis Committee evacuated some 12 kanals of land of a US national from the clutches of land mafia in Sambli Behra Mall, informed a spokesman of district government here on Thursday. The operation against land mafia was carried out by district government under supervision of Chairman District Overseas Pakistanis Committee Basit Shakeel Hashmi, he added. A case was also lodged against the land grabbers with police. According to him, a complainant namely Muzaffar Javed, US national, approached District Overseas Pakistanis Committee chairman stating he purchased a piece of land measuring 12 kanals in Mouza Sambli Behra Mall in 2005. The overseas Pakistani added a notorious land mafia grabbed his plot. He requested the Chairman Basit Shakeel Hashmi to take action against the land grabbers and to retriev...

‘Modern form of colonisation’: APC terms Bahria Town Karachi illegal, demands the land be returned to original position   An All Parties Conference (APC) on Sunday declared Bahria Town Karachi (BTK) "illegal and unconstitutional" and "a modern form of colonisation", calling for the land to be returned to its original status. Held at the outskirts of Karachi's Gadap Town in Hadi Bux Gabol Goth on the call of the Indigenous Rights Alliance and attended by the PML-N and nationalist parties from Sindh and Balochistan, the APC resolution said: "BTK had illegally occupied lands and it’s construction work should be stopped." “We consider it as a form of colonialism in the 21st century which is worse than the colonialism of the 18th century,” it added. “We believe that BTK is part of [the] invasion of global capitalism." During the meeting, the participants termed both the ruling PTI government in the Centre and the PPP government in Sindh as BTK's ...

  Enforcement team of Multan Development Authority (MDA) demolished an Illegal under-construction shopping mall and sealed a private school here on Thursday MULTAN, (APP - UrduPoint / Pakistan Point News - 3rd Jun, 2021 ) :Enforcement team of  Multan  Development Authority (MDA) demolished an Illegal under-construction shopping mall and sealed a private  school  here on Thursday. In line with special directives of Director General MDA Agha  Muhammad Ali , the anti-encroachment team of MDA led by Deputy Director Enforcement Muhammad Afaaq Bhatti launched a crackdown against illegal constructions and demolished an under-construction shopping mall situated at Pace City  Housing  Colony near Northern Bypass. The team also sealed illegal building of Royal International private school during operation at Mouza Neelkot. Enforcement team used heavy machinery during the anti-encroachment operation in which officials and  police  and other concern...

 

  THE State Bank and Pakistan Banks Association have claimed that the housing and construction loans portfolio of banks has grown by Rs54bn to Rs202bn from July to March compared to a stagnant position in the same period last year. “Such growth in housing and construction finance in such a period has never been witnessed in the country’s history,” the joint statement reads. It says that bank financing for housing and construction is likely to increase significantly as mortgage finance activity under the Mera Pakistan, Mera Ghar scheme picks up. SBP data on house-building loans paints a different picture though. It shows the stock of housing finance to citizens has risen by just Rs13.7bn to Rs93.5bn. If house-building advances to bank employees — the stock of which has grown by Rs25bn — is also considered, the total housing finance portfolio increases by Rs38.8bn to Rs228.3bn. Even construction loans to developers/builders for residential buildings have grown by merely Rs11bn. Data ...

  KARACHI: Work on promoting and facilitating housing and construction finance is progressing rapidly and upward momentum is building up as a result of recent measures undertaken by the government and the State Bank of Pakistan   (SBP). In a statement on Tuesday, the SBP highlighted that the housing and construction finance portfolio rose from Rs148 billion at the end of June 2020 to Rs202 billion in March 2021. “This represents a growth of Rs54 billion or 36% in three quarters of FY21 compared to a stagnant position in earlier quarters,” it said. “Such level of growth in housing and construction finance within a short period of time has never been witnessed in Pakistan’s history.” It added that overall bank financing for the housing and construction sector would surge further because the mortgage finance activity under the “Mera Pakistan Mera Ghar” scheme was gaining pace. As of April 20, 2021, banks had received applications for financing of more than Rs52 billion ...

LAHORE: Police launched a search operation at Harpalke village after an armed clash broke out between police and some residents of Heir village on a road construction dispute with the Defence Housing Authority on Friday. Police arrested more than 15 protesters after they allegedly shot at and injured a policeman and damaged the official vehicle. Two other policemen suffered injuries during the scuffle with the villagers. There were reports that the incident occurred when a road leading to the village was being constructed by the DHA following the Phase IX project. The villagers feared that the DHA was going to encroach upon the road which was on land owned by Harpalke residents. Some witnesses told media persons that the scuffle first broke out between the DHA guards and the villagers. They said on finding the situation getting out of control, the DHA administration called the senior police officers who dispatched a heavy contingent of police to deal with the law and order situation. A...

  LAHORE: Pakistanis must brace for further increase in prices of almost everything this time, not because of government’s incompetence, but due to increase in global rates of all raw materials needed for production of commodities. Covid-19 first devastated the most advanced economies, including China, Europe and the United States. That killed the demand for numerous raw materials and commodities. Only food and healthcare sectors saw rising demands. The deadly virus is still playing havoc in the United States, but its economy has been given a huge fiscal stimulus to roar back. Chinese and European economies are rebounding. The rebound is accompanied with surge in demand be it steel, copper or lumber. China is one of the largest users of raw materials and also largest supplier of some. There is stiff competition for most raw materials among these economies taking the prices to new heights. The cost for almost everything is on the rise whether it is construction, vehicles or food. In...