KARACHI – A United Arab Emirates-based real estate company has announced to invest $30 million in Pakistan amid Prime Minister Imran Khan-led government’s special packages for construction sector.
Diyár Homes Limited will make the investment in the country’s second major city, Lahore, said an official from the firm.
The Pakistani premier believes construction sector can stimulate the under-pressure economy of the country. For this, he has also encouraged banks to introduce special packages to facilitate people.
Pakistan’s consumer home finance, which is one of the lowest in South Asia, increased by 18 percent to a record Rs97.8 billion this May, according to Foundation Securities Pvt.
The country has also seen its first real estate investment trust in more than six years.
With this project, the foreign company aimed to attract overseas Pakistanis to invest in their home country’s real estate sector.
It comes days after PM Imran launched ‘Roshan Apna Ghar’ program for overseas Pakistanis, enabling them to acquire property in Pakistan through Roshan Digital Accounts.