Property Developers to Grab Attention of NRPs in UAE
Factors such as federal budget, law amendments and the introduction of the Real Estate Investment Trust (REIT) have influenced the advancement of the industry. However, this sector has further been evolving as concerned companies have been trying to resolve other real estate related complexities in order to invite more genuine and legitimate investors.
The data gathered from different sources reveal that investors have pulled out money from several banks in Pakistan after the introduction of 0.3 to 0.6 per cent withholding tax on filers and non-filers on tax returns. These components along with the rise of safe property investment bet in various parts of the country and abroad encourage Pakistanis and Non-Resident Pakistanis (NRPs) to invest in valuable long term investments compared to short terms ones.
Showcasing the change in Pakistan real estate industry, this year' s International Real Estate & Investment Show brings the third Pakistan Property Exhibition in Abu Dhabi. The specialized event gathers the country' s leading developers and real estate agents under one roof to showcase the best real estate investment options, provide spot sales and learn about the leading insights into the market. Visitors can expect to see properties from all the leading cities including Islamabad, Lahore, Karachi, Faisalabad, Gujranwala, Bahawalpur, Gawadar and many more.
"Studies have continuously shown new global trends that the real estate market in Pakistan is tapping into. Apart from new demographic movements, Pakistan has also witnessed a heavy intercity migration over the last five years due to security and economic benefits that specific cities offer," said Antoine Georges, MD of Dome Exhibitions. "The International Real Estate Exhibition Show enables Pakistanis to secure homes and investment properties in their country by bringing the opportunities to them through the Pakistan Property Exhibition. The specialised pavilion aims to attract more than 10,000 Pakistani investors from the UAE."
The exhibition will be held in Abu Dhabi National Exhibition Centre from November 2-4, enabling Pakistan realty giants such as DHA, Model Housing Lahore, New Lahore City and Bahria Town to showcase the latest properties available for interested buyers.