Durrani for affordable housing facilities for people

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Federal Minister for Housing and Works, Akram Durrani, has called for the provision of affordable housing facilities to the people.
He was of the view that by expanding real estate footprint overseas, Pakistani builders and developers have been leading the charge in bringing in a much-needed foreign exchange to the country.
This he said on the sidelines of ABAD International Expo 2017 here, the organisers said in a statement issued here on Sunday.
It said that the minister also held a meeting with Adnan Iqbal, Chief Coordinator of UAE-based Real Estate and Investment Pakistan Expo (RIPE). Durrani said the active participation of Pakistani builders in international real estate exhibitions is a good omen for the industry, as this will help the country’s real estate players to provide affordable housing to Pakistanis living abroad.
The statement said that the minister accepted the invitation for the Real Estate and Investment Pakistan Expo (RIPE) that will be held in Sharjah on September 22 and 23.
He was of the view that the Association of Builders and Developers of Pakistan (ABAD) and the rest of the country’s real estate companies were playing an important role.
Adnan Iqbal, Chief Coordinator, RIPE, thanked the Government of Pakistan and ABAD for supporting the RIPE’s mega real estate fair.
Meanwhile, The housing sector in the country is able to construct only 300,000 houses, adding that there is a shortfall of around 900 million units in the country.He said there is a scope for financing of one million consumers financing for house building, adding that during the next 20 years it would increase to 2.8 trillion. The SBP deputy governor said that the current house financing is 0.4 percent of GDP and urged the financial sector to take benefit from the existing opportunities in the housing sector.—APP

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