Housing sector may see $2bn investment from gulf: Developers

[Naveed Yaseen]

KARACHI: The construction and housing industry is likely to attract a fresh inflow of foreign investment amounting to around two billion dollars, developers said.

“Talks are underway with foreign investors for investing more than $2 billion in the housing and construction industry,” Chief Executive of Rufi group, Manzoor Ahmed Rufi said addressing a press briefing on Thursday.

In this regards the group has convinced the Maqaseeb Group of Saudi Arabia, Theses of Abu Dhabi Housing Authority and Bilvadi of Dubai to invest this amount in the next two years in projects such as shopping complexes, hotels and residential and trading projects in Karachi, Lahore and Islamabad.

Manzoor Rufi said that overseas Pakistanis are grieved on the present economic situation of Pakistan and therefore in the current scenario, Pakistan’s housing and construction sector can play an important role.

“All they need is the government’s support because with its help we can launch constructions projects similar to Dubai which will also help activate more than 72 industries and create hundreds of jobs,” he further commented.

Ramiz Rufi said soon an agreement between Hassham Abdul Ghania of Maqaseeb group, Saidul Moossa of Theses group and Anthon Sari of Bilvadi group Abu Dhabi, will be signed.

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