Unique projects go on display as Pakistan Property Show begins

Business Bureau, Gulf Today

Pakistan’s largest real estate portal, Zameen.com, successfully kicked off the third edition of its annual Pakistan Property Show (PPS) in Dubai on Friday.

Marwan Ahmed Bin Ghalita, CEO of Real Estate Regulatory Agency, Dubai, inaugurated the event.

“I’ve seen a lot of (Pakistani) companies offering unique projects, sharing data and knowledge form Pakistan to Dubai and Dubai to Pakistan,” Marwan said after interacting with various exhibitors and senior management of Zameen.com.

“Today there are no borders for investment and real estate is the biggest investment that everybody is looking for,” he added.

PPS 2019 featured the biggest names from Pakistan’s biggest cities like Karachi, Lahore, Islamabad, Multan, Peshawar, Murree, Faisalabad, Gujranwala, Raheem Yar Khan, Gwadar, Bahawalpur and DG Khan.

In the last two editions of the event, the property extravaganza attracted a combined audience of over 31,000.

Prominent names among this year’s exhibitors included ‘Eighteen’ and ‘Capital Smart City’.

Zameen.com CEO Zeeshan Ali Khan said that taking the property exhibitions to an international level was a tough undertaking in the beginning but with every passing year, Pakistan Property Show has become a brand name for property exhibitions. ‘The success story of this event is a source of pride for Pakistanis living the Gulf,’ he said.

Every year this event offers overseas Pakistanis a unique chance to explore rewarding investment opportunities available in some of the most reliable and promising real estate projects in their home country. In addition, since this exhibition features projects from several major cities of the country, it provides visitors with a great opportunity to explore affordable property purchase options.

Answering a question, Khan said, ‘Increasing investment opportunities in the property sector is vital for setting the sector on the track to progress, and the main objective of organising such events is to circulate money in the investment sector, which, in turn, will benefit the overall economy of Pakistan.’

‘World Trade Centre holds its own exclusive status in terms of trade and investment activity in the region where only the best corporates and business entities can stage their activities, and for a Pakistan-based company to organise such a grand event here is definitely a matter of national pride,’ he said further.

The final day of PPS 2019 will take place on Saturday, December 7, from 10am to 8.30pm. Entry is free for all.

Pakistan Property Show by Zameen.com is the international iteration of Zameen Expo, Zameen.com’s local property exhibition events.

Within Pakistan, Zameen Expos have been putting coveted projects and developments on centre-stage, one hit show after the other, to the tune of thousands of families and investors.

The increasingly popular events deliver a diverse set of property options to visitors. And after close to a dozen Zameen Expos, which captivated the audience back home, Pakistan Property Show Dubai was the logical next step for Zameen.com. More than 30% of Zameen.com’s traffic comes from overseas Pakistanis living across the world, and we could clearly see a growing demand for an international exhibition.

Moody’s Investors Service – one of the three global credit rating agencies – has recently changed Pakistan’s credit rating outlook to stable from negative, signalling further improvement in foreign currency inflows into the country.

Moody’s also affirmed the government of Pakistan’s local and foreign currency long-term issuer and senior unsecured debt ratings at B3.

“The change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility,” read a Moody’s report released on Monday.

“Such developments reduce external vulnerability risks, although foreign exchange reserve buffers remain low and will take time to rebuild.”

Moody’s said the recent currency depreciation has pushed up Pakistan’s debt level and weakened Islamabad’s fiscal strength.

Separately, Pakistan’s exports of goods during November 2019 have increased by 9.6 per cent to $2.02 billion while imports declined by 17.53 per cent to $3.815 billion over corresponding month of last year, according to the Ministry of Commerce’s data.

Exports were recorded at $1.843 billion while imports at $4.626 billion in the same month of last year (November 2018).