Pakistan realty holds strong growth potential

Pakistan real estate holds a strong growth potential and the government policies and support measures have provided much-needed impetus to the struggling construction and housing sectors in the country, an industry veteran says.

Imtiaz Rafi Butt, chairman of Rafi Group, said Pakistan property sector will grow substantially due to the government support, effective policies, availability of mortgage and various financing options.

“I have always been a strong advocate of potential that Pakistan holds and now with the support from government the real estate industry is turning into a sector with great net worth. In the coming years we will see substantial growth in all over property market and its support to other businesses,” Butt told Khaleej Times on the sideline of Pakistan Property Event in Dubai.

The two-day event, organised by the country’s largest real estate portal zameen.com, presented more than 125 projects to the Pakistani diaspora. It concluded on Saturday.

“Due to Pakistan’s ideal location and great support from China, we are able to establish multiple industries and business opportunities are rising for individuals. In the times to come, the housing market will be one of the prime supporter of Pakistan’s economy and Gwadar will be greatly catering to the rising housing needs,” Butt said.

Apna Ghar Scheme

Butt said Apna Ghar Scheme is no doubt a landmark and high-profit initiative, this will bring overseas investments in the country and aid in boosting “our GDP, just as Gwadar will be a harbor to many overseas Pakistani investments”.

In reply to a question about the expansion of the group, he said Rafi Group has emerged as a matured and serious industry player in the past 45 years.

“Back in 1978, when I completed my first project, I had a vision to uplift my father’s name, today I can proudly say that my efforts were not in vain, Rafi Group has completed multiple projects and become a corporation with its network spread throughout Pakistan, UK, USA and the Middle East,” he said.

“We are renowned for our reputation and commitment to our people. Our projects has been a hallmark of innovation and modern technology in real estate,” Butt concluded.