Pakistan has been ranked among top three non-Arab foreign investors
in United Arab Emirates (UAE). A leading property builder associated
with Association of Builders and Developers (ABAD) informed that
Pakistanis invested Dh30.64 billion in the real estate market of Dubai
in the past five years. Pakistanis’ big investment in UAE resulted in
increase of remittances received from UAE by 9.4 percent to $2.1 billion
on year-on-year basis. According to the State Bank of Pakistan, UAE is
the major remittance-sending country to Pakistan in 2014-2015 as it
recorded the largest increase by 26.1 percent and Pakistan received $4.1
billion from overseas Pakistanis in UAE.
ABAD reported that
positive investment trend was seen in Pakistan not only in big cities of
country (Lahore, Islamabad and Karachi) but also in developing
industrial towns like Sialkot, Hyderabad, Faisalabad and Gujranwala. As
security situation has been improved in Pakistan after the military
operation against terrorists, overseas Pakistanis took interest in
making investment in real estate sector of Pakistan. However, Pakistani
emigrants in the UAE and Gulf regions in large numbers are preferably
making investment in Dubai as it returns good rental product.
Although
the real estate industry of Pakistan has improved a lot basically due
to investments made by overseas Pakistanis, the trend of investment in
Dubai is said to be continued because it gives a healthy output.
According to the real estate experts, this trend is in favor of Pakistan
as more investment in Dubai will add extra income to overseas
Pakistanis which will later return to Pakistan in the form of
remittances. So the money will indirectly come to Pakistan at the end
and will help the current account balance of Pakistan. For this reason,
such investments by overseas Pakistanis should be appreciated as they
are in the favor of Pakistan by other means. Read more : Link
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