Real estate investments in Pakistan have always been a trusted by investors, both residential and commercial projects. The same sector which was lacking in transactional security, transparency and technological integration, which played as a fear factor for the overseas Pakistani investors.
During recent years, overseas Pakistanis showed their confidence in the real estate sector. The investment flux and remittance from overseas Pakistanis gave massive boost to both the economy and the real estate sector.
Real estate investment is the best option for overseas Pakistanis
Real estate property investment is the single most beneficial investment opportunity for the overseas Pakistani investors, here’s why:
State bank of Pakistan has introduced “Roshan Digital Accounts”, a digital bank account for overseas Pakistanis. This is the way forward to making digital transactions online while sitting abroad and investing in any sector. Currently, all the major banks in Pakistan with the collaboration of State bank of Pakistan are offering the “Roshan Digital Account” for seamless banking in Pakistan for overseas Pakistanis.
Real Estate development companies have welcomed this digital banking step for overseas Pakistanis as it will boost the real estate investments and will ease the transactional process between the investors and the developments.
Secure investment option
Approved real estate projects under the banner of successful real estate development companies give a confidence boost to the investors to move forward.
In Pakistan, there are several active real estate projects underway with the collaboration of the government and private sector. These projects include residential, commercial housing projects and housing schemes. Also, there are large infrastructure investment projects under the China-Pakistan Economic Corridor (CPEC), spread all over Pakistan. Dozens of special economic zones are in progress all over the country under CPEC.
Recently Government has laid the foundation stone for the Ravi Riverfront Urban Development project in Lahore.
For investing in real estate projects the overseas Pakistani must read about the project before investing. The project must be approved by concerned regulatory authorities like CDA for Islamabad capital city projects, Lahore Development Authority (LDA) and Karachi Development Authority.
Ease of Access
The real estate sector in Pakistan itself offers private investment opportunities for potential investors. One of the trusted real estate developer my4walls, offers investment opportunity in Piccadilly Courtyard which is one of the biggest and most luxurious shopping mall & apartment complex in the heart of Bahria Town, Phase 7, Islamabad.
Also, new technologies like Proptech has made the visual info graphics more attractive to market such real estate projects for better view that include virtual tours, 3D videos, smart listings and market research evaluation. All these technology options have made it easy for overseas Pakistanis to take a better look into any project and invest in it with a clear head and peace of mind.
The Government’s Packages for Construction Industry
In order to kick-start the economy after the outbreak of COVID-19, the government unveiled the Construction Relief Package.
The minimum period to invest in real estate, set by the SBP is three years. Following the completion of the given period, investors will be able to repatriate the full amount of sale proceeds of the investment in property.
However, in case an investor wants to withdraw before the completion period, they can repatriate funds up to the lower amount of sale proceeds, or the principal investment amount in Pakistani rupee on the date of investment.