The Pakistani government has allocated land and plans to construct 6 million homes to ease the acute housing shortage in the country. Some 20,200 hectares of land in four provinces has been reserved for the housing, and the government is now working with and lining up investors to construct the new homes.
The proposed projects will be a public-private partnership where the government will provide the land, and the construction will be phased in over several years. The government of Pakistan has held discussions with several UAE construction firms and is looking at others, according to recent news reports. Pakistan’s Minister for Investment, Wagar Ahmad Khan, has spoken with Ruwaad Holdings and they are in the process of researching the project.
“With a population over 170 million people, there is a dire need for housing in Pakistan,” Mr. Khan said. “There are tremendous opportunities here and we have pledges of investments from several investors.” With the need for more housing, the country looks to get moving on the projects as soon as possible.
