Gulf real estate investments increase in Pakistan:

Gulf real estate companies are increasingly interested in investing in Pakistan, taking advantage of the vast potential of the Pakistani economy, which is growing at reasonable rates coupled with relatively low costs compared to other parts of Asia, a real estate report said.

The report pointed out that the Pakistani economy is growing at rates of 4 to 5 percent over the past years, expected to achieve rates close to the next few years, especially with the state of openness to foreign investment, especially Gulf investments, noting that Pakistan was able to quickly overcome the instability that preceded the general election months ago , And began to attract Best property investment in Lahore, both real estate and financial investments to agricultural investments.

Pakistan, like other Asian countries, has a budget deficit that rose by 31.1 percent in the first six months of the current fiscal year (or from $ 1.46 billion to $ 6.14 billion), the report said. The report attributed one of the reasons for Pakistan's public budget deficits to a drop in the flow of foreign investment to much lower than expected figures for the fiscal year 2007-2008, $ 5 billion, and with the decline in the flow of remittances of Pakistanis working abroad, which reached $ 2.17 billion, after The figure for the same period of the previous fiscal year was $ 3.18 billion.

The report said that the Kingdom is preparing to launch a large investment project in the Pakistani capital of Islamabad worth about 450 million dollars. The project, dubbed the "Gulf-Pakistan Project", is the first of its kind in Pakistan. The project includes a number of residential towers, a five-star hotel and a shopping center.

While the UAE has invested more than $ 9.5 billion in Pakistan over the past four years. The investment is expected to reach $ 15 billion. Much of the investment has been in the real estate sector, including residential, shopping and telecommunications. The Gulf region is the largest foreign investor in the public and private sectors in Pakistan, and experts estimate investment in the real estate sector alone is more than $ 4 billion.

Emaar Properties announced three real estate projects in Pakistan worth 8.8 billion dirhams in Islamabad and Karachi. The $ 2.4 billion Canyon Views project is located in the second sector of the Military Housing Corporation in Islamabad. Emaar is also developing the Highlands project in Islamabad and the Crescent B project in Karachi.

The government of the Punjab State of Pakistan signed an agreement with a group of companies from the UAE to establish a sports city in the state of Lahore at an investment cost of about $ 6 billion. Pakistani government sources said the Punjab government had given the land for a 30 percent stake in the project, while the government would share profits with the company. The project includes the construction of stadiums and other facilities related to all sports activities on one-third of the total land area over the next four years.

In the same context, the Sharjah-based holding company and the National Logistics Company of Pakistan launched two 37-storey twin towers in the heart of Karachi under the name of Karachi Financial Towers. These two towers will be a landmark in the face of Karachi, which will be the tallest towers in Pakistan, the most distinctive of which is construction and facilities.