10,000 New Property Developers Bring into the Pakistani Real Estate Market

[LRE-Azan]

British-Pakistani property tycoon Aneel Musarrat on Wednesday said he was aiming to bring 10,000 new property developers into the Pakistani real estate market to take control away from a few people who decide everything about housing to “benefit themselves”.

Talking to a local media outfit, Musarrat, who is also a close friend and financier of Prime Minister Imran Khan, said that he would extend advice to PM Khan with regard to the Pakistani government’s plan to build five million houses without accepting a cabinet position.

There had been speculation that Musarrat and another UK-based businessman, Sahibzada Jahangir, may be given cabinet positions after their pictures with the PM went viral on social media.

Earlier on Monday, Musarrat reportedly attended a meeting chaired by the PM on the formulation of a roadmap to achieve the target of constructing five million houses across the country.

Musarrat, while speaking to a local media outlet, said, “I am doing profitable businesses in the United Kingdom and Europe. I am interested in Pakistan only because it’s the country of my origin and I want to give something back, not get anything.”



“I will not do any business and I will not get any money for advising Imran Khan’s task force on housing,” he added.

He explained, “The housing has to be for the poor people who have no chance otherwise of moving up the property ladder. They need support.”

“This year I plan to deliver 9,000 homes in the UK and the sale value of these houses will be over £2 billion. I am using my company’s housing development experts to advise Pakistani government,” he also said.

“The objective is to alleviate poverty and help Pakistan to recover economically. It’s an inward economy, with small capital required to buy homes,” he further explained.

“At least 10,000 new developers will enter the market to build 5 million homes,” Musarrat also said.

“I have proposed that if our plan is implemented, then six million jobs will be created for five million homes. Mortgages will be available to the customers that will enable the lower-middle and middle classes to afford new homes on easy payments through one window operation,” he also added.

“Buyers will be able to get mortgages like they do in Europe. Banks will provide loans but I have informed Imran Khan that the banking laws will have to change for this purpose and he agrees with the idea. This will bring radical improvements in the economy,” the businessman explained.

Musarrat also said that he would build hospitals for maternal care.

“I will be funding these hospitals through my charitable foundation based in the UK,” he said.

Musarrat is viewed as a close aide of PM Khan and has helped him and his sister Aleema Khan raise funds for Shaukat Khanum via fundraising events for almost 12 years.

He is listed as one of the richest people in the UK.

He had started his career as a small-time property dealer and eventually moving into construction and renting commercial properties.

On the other hand, Jahangir is Fauzia Kasuri’s elder brother and enjoys close proximity with the PM. He is also the premier’s adviser on overseas Pakistanis.

Reference:
https://www.pakistantoday.com.pk/2018/09...et-member/