AAA Associates called Bahria Town attack harmful for real estate growth

43
Staff Reporter
Islamabad

AAA Associates, a leading Group of Companies, officially condemn the violent protest in Bahria Town, Karachi, in which the miscreants targeted public property.

AAA Associates offered condolences to the residence and business community of Bahria Town Karachi over the loss of their property.

The protestors set several shops and vehicles ablaze, terrorizing the local residence and business community of Bahria Town.

Due to Covid-19 Pandemic, when world economies suffer a backlash, Pakistan’s real estate sector has been showing promising growth and a progressive trajectory.

The Pakistan real estate sector is worth anywhere between $300 to $400 billion according to the Pakistan Bureau of Statistics.

These violent acts will harm Pakistan’s booming real estate sector just as it has started showing positive signs of investments and become one of the leading sectors in the country’s GDP growth.

AAA Associates has demanded that Government and Law enforcement Authorities take strict action against the perpetrators, compensate the damages after evaluation and provide total security to the residence and business community of Bahria Town in all cities.

There is a need to devise a security plan to avoid such incidents in the future, as they adversely impact the investment opportunities in the Real estate industry and discourage investors from injecting capital into this sector.

AAA Associates Managing Director Lt. Col Shahzad Ali Kiani (Retd) shared his thoughts on the incident, “At this crucial time when real estate has picked up the pace, and we are witnessing tremendous growth in the real estate industry, such violent incidents will take us to the backfoot and hurt the confidence of Investors.