Pakistan Ranked As Second Top Investor In UAE

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

Property in DHA Lahore for Sale, Purchase or Rent

The plot prices in DHA Lahore varies from phase to phase. However, the average rates are detailed below:

One Kanal Bungalow price in DHA starts from Rs 17,500,000 and goes till 70,000,000. The average price of five Marla newly built house is Rs 1.8 crore to Rs 2 crore and ten Marla is Rs 2 crore to 2.5 crore. Average price for two Kanal house fluctuates between Rs 18,500,000 and Rs 35,000,000. And if you desires to buy fully furnished house in DHA then you should have twelve crore rupees in your pocket.

One Kanal residential plot price ranges from 62 lac to 2 crore. You can buy five Marla plot in price varying between 22 lac and 54 lac. Commercial plot prices diverges from 2.2 crore to 6 crore for 4 Marla and from seven crore to ten crore for 8marla.

The rental charges in DHA are also very high. You can get one portion of 1 Kanal house in DHA for rent between Rs 37,000 and 275,000. Two Canal fully furnished house costs around two lac per month. You may get full five Marla house for 40 to 48 thousand rupees per month.

Highest property prices depicts the quality of area. Rapid development is taking place in its new phases. It is no doubt great place to live. Another quality of DHA is that it is connected to Lahore Ring Road that is heart of Lahore. Ring Road connects the main areas of the city so DHA location near Ring Road has increased worth of the area. DHA Phase 5 is best if you want to buy a house.  And if you are looking for plots to invest, then you should consider the newly launched Phases 7, 8, 9. Finding plots in Phase 1, 2, 3 have become difficult and if found, they are highly expensive. The property rates in Phase IV and V are also following Phase 1, 2 and 3. The phase 6, 7 and 9 are under development and viewed as best option for investment as rate of properties is low there. Moreover, the newly launched phases are better than old phases in terms of facilities and infrastructure quality.

DHA Phase 6 is said to be a Master Planned Phase of DHA Lahore. It has best park facilities and best schools including Lahore Garrison University, St. Marry School, Sicas Main Campus and Beaconhouse-Newlands. Hospitals located in Phase 6 includes Sharif Hospital, Vitality Healthcare Skin and Laser Center. source:  DHA city Housing Scheme

List of housing schemes offering plots on installments in Lahore

Lahore, the second largest area in Pakistan and 16th most populous city in the world, is capital of Punjab province. It has an area of 1,772 km² and population of 7.566 million according to the Pakistan Demographics Profile 2014. Lahore is the famous historical city of Pakistan as it has many important historical buildings. It is the home of tourist attractions and famous top ranked educational institutions of country.

The population of Lahore is increasingly rapidly due to growing trend of urbanization. People from rural areas are coming in large number in the search of education, modern health facilities, better living standard and good jobs. This new entry in the city has created residence issues.

Many housing schemes are established in the city which are providing plots to people on affordable prices. Most of the housing schemes are offering plots to its clients on easy installments in Lahore. Down payment policy varies from society to society. Plot’s size decides the installment amount and after completion of installments, one gets possession of plot in that particular society.

List of Plots: LINK

EOBI suffers loss of Rs 1.559 billion at hands of Aleem Khan

EoBI-Employees Old-age Benefits Institution suffered a loss of Rs 1.559 billion after bought a land from member of Pakistan Tehreek-e-Insaaf (PTI) for Rs 2.6 billion but the market value of the land is said to be not more than Rs 1.401 billion. This mega corruption scandal was presented in the Supreme Court and documents were provided about the land located at Multan Road, Lahore sold by PTI’s Aleem Khan. He, however, said that he is ready to return the rest of amount. Aleem Khan offered to submit Rs 600 million upfront and rest amount on the return of land.

The land involved in mega corruption scandal consists of 742 residential plots and 226 commercial plots of four Marla each. EOBI had purchased this land from M/S Vision Developer (Pvt) Ltd for Rs 2600 million. Chief Financial Officer, Company Secretary Imran Anwar facilitated this contract of EBOI with two directors of company named Abdul Aleem Khan S/O Abdul Rahim Khan and Mst. Nasim Khan Widow of Abdul Raheem Khan.
LDA has warned people to stay away from the illegal properties after it received multiple complaints regarding launch of illegal housing schemes. However, no progress has been recorded yet. Although LDA have directed people to get their project approved first by LDA, but no significant impact it had. FIA presented report against housing schemes launched on this controversial land. LDA rejected the revised plan of said housing schemes in Phase II and has not approved this scheme. Read original LINK