Economics & Business

Spain keen to invest in Pakistan’s housing sector

ISLAMABAD: A Spanish Company is keen to invest in housing sector in Pakistan to address acute shortage of housing units in the country.This was stated by head of a ten member delegation which called on Federal Minister for Housing and works Nisar Muhammad Khan here on Thursday.

The Minister informed the Spanish delegation that owing to increasing demand of Housing Units , there exist tremendous opportunities for investment in real estate and housing sector.

He said that United Arab Emirates based company will also invest 1.2 billion dollars in housing sector in Pakistan. Demand of houses would reach 500,000 within the next 20 years, he said. The Minister told the delegation that 350,000 housing units were established in year 2006 with an investment of Rs 150 billion. Head of the Spanish delegation Mr. David Crawford said that his company could construct 80,000 housing units in three years.-SANA

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Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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