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Tech, Business & Political News from Pakistan

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Government Urged to Restart Affordable Housing Financing Scheme Through Commercial Banks

KARACHI: The government should resume the affordable house financing scheme through commercial banks to facilitate masses for purchasing and constructing residential housing units to revive economic activities across the country.

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Urgent Call for Economic Revival: Government Urged to Restart Affordable Housing Financing Scheme Through Commercial Banks to Boost Residential Construction and Purchases

This was stated by the real estate tycoon and founder of Shangrila City, Syed Afzal Hameed, at the annual meetup of developers and the launch of one-window solutions for allotees of the international housing project at a local hotel here on Thursday.

Speaking to the media, he said the real estate stirs commercial activities in construction and various allied sectors, including steel, cement, paint, cable, marbles, etc, which ultimately benefits the economy through taxes and employment opportunities.

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The real estate is the mother of construction industry, it contributes a significant role to the GDP every year, he remarked.

Despite various challenges, the administration of Shangrila City introduced housing projects for middle income groups, including an international themed apartment, and began the process of procession to allotees at a given time.

He added that owning a decent residential unit is a dream these days, but it had been made possible through affordable projects launched by Aimal Builders.

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On the occasion, CEO Al Meeraj Marketing, Kashan Siddiqui said the success of any housing project depends on its construction, facilities, amenities and payment structure, which the administration of Shangrila City assured to win the trust of its customers.

He lauded the role of partners and dealers in this project to make it successful, which began to receive booking of the housing units from day one of the launch, receiving overwhelming response from the buyers and investors. The annual event was also attended by the city’s renowned builders, developers, and dealers.

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