Real estate is becoming the new area of attraction for investors not only in Pakistan but also for the international investors as well. In this realm, Egyptian investor has showed its interest in the housing project of Pakistan. They are launching a multi-billion-dollar housing project in the south-west of Islamabad. This project is owned by an Egyptian billionaire, Naguib Sawiris, founder of ORA developers in collaboration with the Saif Group and The Kohistan Builders. An investment of $2billion with Mr. Sawiris is holding up to 60% shares. The same project will be launched in the outskirts of Lahore and Karachi by the beginning of next year.
Project Eighteen-a mixed use developmental project that will cover 600 acres of land. It is the flag ship project of Ora developers in the real estate of Pakistan. Previously, they have invested in Mobilink, which is of the successful telecom house in Pakistan. This project is making waves in the media for the construction of a five-star hotel of 150 rooms, 1068 housing units, 921 residential apartments, business parks, hospitals, schools and other educational facilities. Besides this, it also intended to make 13 office buildings for the corporate sector.
Pakistan real estate sector presents an attractive forum for the investors not only at home but at abroad as well. Housing is a basic need, and there is a huge market available for this thing. Pakistan with a population of around 208 million, is a huge market to tap and receive dividends. It’s just a matter of timing and proper investment, which can create wonders not only for the business community but also for the overall revenue generation of the country. Pakistan is currently facing a shortage of 12 million housing units. This much housing units require massive investment of almost $180 billion. This huge investment cannot be done by the Pakistani government alone. It requires funding from the international organizations and from developed countries as well. Mr. Saif maintained that with the help of the Ora developers, they will be able to introduced modern housing units in Pakistan. This will encourage both the domestic and international investors to invest in the home country. As, there are many investors who want to invest in the country, but not finding projects up to the western mark. This will help those sleeping investors to take active part in the real estate of the country. In a nutshell, this housing project will prove as a game changer in the real estate sector of Pakistan.