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Malaysian co to build 160,000 houses - LahoreEstate - 08-21-2009 05:31 PM
ISLAMABAD (APP) - Renexus, a world renowned Malaysian construction company, has submitted a formal proposal to the Pakistan government for the construction of 20,000 low-cost houses in each of the eight major towns.
Pakistan High Commissioner to Malaysia Lt-Gen (Rtd) Tahir Mahmud Qazi said the state land in major towns — Lahore, Rawalpindi, Multan, Bahawalpur, Faisalabad, Sargodha, Gujranwala and Sialkot would be utilised to build quality houses through private sector participation and financial institutions, a private TV channel reported.
Describing Renexus’ proposal as the beginning of a mutually beneficial cooperation between the two countries in the housing sector, Qazi invited other Malaysian companies to take full advantage of the Pakistan government’s vision to provide decent housing to low-and middle-income families.
“The supply and demand gap in the housing sector will be met by public and private partnerships wherein the government will serve as the enabler, regulator and facilitator,” he said.
For major investments, Qazi said it would be tapped from the private sector, both local and foreign and financial institutions.
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/Business/21-Aug-2009/Malaysian-co-to-build-160000-houses