ISLAMABAD: Association of Builders and Developers of Pakistan (ABAD) International Expo on housing will kick off on Friday at Pakistan China Centre Islamabad.
Governor Punjab Malik Muhammad Rafique Rajwana will inaugurate the 2nd Property Expo 2018 of ABAD. The housing Expo will continue for three days from Friday to Sunday. 122 leading local and 22 foreign construction companies from Turkey, Italy, China and Malaysia will participate in this international Expo, meanwhile, the organizers are expecting $500 million investment into the country.
While addressing to media, the ABAD Chairman Arif Jeewa and Petron in Chief Mohsin Sakhani said that this expo will break the previous year’s record.
“ABAD had organised a housing Expo in Islamabad in 2017 and we got a tremendous response from the natives of twin cities”, he added.
We had announced to launch a low-cost housing project for the inhabitants of Islamabad. The patron in chief of ABAD disclosed that “we have finalised a land near New Islamabad Airport and ABAD will soon start work on this project”.
We have fixed the price of 5 marla house at just Rs2.1 million, earlier the price was ranging from Rs1.5 million to Rs1.9 million depending on the availability of land, he further informed.
In order to address job-related issues, ABAD will arrange a job fair in which leading experts from the textile sector, cement sector, manufacturing sector, architects and others will participate.
Moreover, we will also hold a seminar on building management in which speakers belonging to construction companies will inform the audience about the new trends in the housing sector.
Mohsin Sekhani stated that Pakistan is facing a shortage of 120 million houses and the incumbent government is not paying any heed to this important aspect.
If the government announces any policy related to real estate, ABAD can provide assistance in this regard, Mohsin further added.
He revealed that investors want to invest in this sector but government policies regarding the real estate sector are hindering investment.
He requested the government to end the new taxes and bring a uniform rate with the consultation of ABAD.
While replying to one question, Arif Jeewa stated that government has not provided any relief to ABAD in this budget. He added that Federal Board of Revenue (FBR) has increased the tax on steel sector which will surely affect the common man.