Despite the COVID-19 pandemic, Pakistan’s real estate sector, which is often regarded as the most lucrative investment opportunity available in the country, has also been the site of several significant breakthroughs over the past year.
Pakistan’s property sector
Now, let’s walk you through some of the most significant developments expected to take place in the year 2021 and how they will contribute to the continued expansion of the real estate industry in the country in the years to come.
- By arkaaconsultants.com, an Event for the Organization of Expos and the Sale of Property
- The Construction Industry Is the Focus of the Prime Minister’s Relief Package
- 2021 saw a rise in registered construction companies compared to earlier years.
Expo and sales events hosted by arkaaconsultants.com are set to revolutionize the property sector. The real estate market is undergoing a revolutionary shift due to ground-breaking initiatives such as consultants Expos by arkaaconsultants.com.
Successful real estate expo
A highly successful real estate expo was organized by arkaaconsultants.com in Karachi at the beginning of February 2021, right before the coronavirus pandemic reached Pakistan. This massive gathering took place over two days and drew in the attendance of thousands of individuals. The event attendees had the opportunity to investigate dozens of promising real estate developments from across the nation.
arkaaconsultants.com did not stop carrying out its regular public operations even as the number of reported coronavirus infections decreased, and the nation overcame the initial phase of the pandemic. It began organizing property sales events in many cities across Pakistan with severe coronavirus standard operating procedures (SOPs) to prevent the further spread of the virus.
These platforms serve as a crucial link in the chain connecting real estate investors and developers, thereby unlocking the untapped potential of the country’s overall real estate industry. You can learn more about these public activities by reading our blogs about the property sales event consultants hosted in Lahore and Peshawar in October and November 2021, respectively. These events took place in the respective cities.
Every once in a while, arkaaconsultants.com will release new, cutting-edge tools. arkaaconsultants.com is revolutionizing the future of the real estate industry by developing innovative solutions that provide everything we need to know right at our fingertips. arkaaconsultants.com, Pakistan’s most technologically advanced property platform, has completely transformed the country’s real estate industry, and they have not missed a single detail in the process.
It has caused a disruption in the industry
The second part of 2019 saw the launch of Plot Finder by arkaaconsultants.com, which is widely regarded as the most sophisticated real estate search tool, just like Mcallen Craigslist in the United States, ever developed in Pakistan. Users can get a detailed look at the size and locations of the properties they are interested in without having to travel to the areas themselves. Plot Finder is an innovative and highly dynamic mapping application that can be used on mobile and desktop platforms. It is built on the most recent mapping technology. Read this blog post if you want to find out more about Plot Finder and how it operates.
This year saw the introduction of yet another game-changing application by the name of ‘Propforce,’ which was developed by arkaaconsultants.com. The company is credited with bringing the digital development of the local real estate market to the next level.
Propforce, which can be accessed via a website and a mobile application, is designed to digitally streamline every procedure associated with affiliate programs. As a result, all of the communication obstacles between arkaaconsultants.com and its valuable affiliates will be eliminated.
THE PRIME MINISTER’S AID PACKAGE, DIRECTED Towards the Building and Construction Sector
This announcement was made to increase the employment opportunities available to construction workers and effectively boost construction activities nationwide. The construction incentive package only recently made available by the government has a total value of billions of rupees and was introduced in conjunction with the Federal Board of Revenue.
This exemption will surely be a game-changing move for Pakistan’s property sector in 2021. Under this incentive package, approximately 389 projects have been registered, some of the most notable ones being Mall 35 and arkaaconsultants Aurum, both of which are real estate developments undertaken by consultants Developments widely regarded as being among the most reputable development companies in Pakistan.
The construction relief package announced in 2021 is not only precisely by the vision of vertical cities that Prime Minister Imran Khan has for Pakistan, but it has also considerably helped the change in real estate investment away from plots and toward highrises.
Most important impacts
Up to the 31st of December in 2021, developers were eligible to submit applications for the scheme for both new and ongoing projects. The government of Pakistan has declared that those builders and stakeholders participating in the building of low-cost housing projects everywhere in the country would be free from paying taxes in an amount equal to ninety percent of the average rate. In addition, the builders and developers who provide construction-related services and make purchases of building materials are excluded from paying the withholding tax on these transactions.
IN THE YEAR 2021, THERE WERE REGISTERED TO BE EVEN MORE CONSTRUCTION COMPANIES THAN IN THE PRIOR YEARS.
According to the information gathered by the Securities and Exchange Commission of Pakistan in 2021, there has been a discernible rise in the number of construction companies registered in Pakistan (SECP).
It represents a 32 percent increase from 2019, when the department had only registered 2,560 construction enterprises compared to this year’s total. Additionally, according to the documents that are now accessible, the total number of companies that were written in 2018 was just 2022, which is much fewer than what we saw in 2019.
Prime Minister Imran Khan’s introduction of a construction relief package may be one of the primary factors behind such encouraging results. The advantages granted by the box have partly inspired investors and stakeholders to move on with investment possibilities and development projects in the country.
Following the 70 percent rule is the most excellent way to avoid house flipping blunders. A real estate professional can help you assess the value of your newly purchased house once it has been repaired. A good notion of how much you should put into place to make a profit on the sale will be provided.
A smart option is to look at other houses for sale in the region and see what they have to offer. By following these guidelines, avoid making pricey upgrades to your property that won’t pay off. Choose high-quality materials that will increase the property’s value without exceeding your budget instead of following your whims.
New invesment opportunities for overseas pakistanis
Overseas Pakistan is poised to take advantage of many exciting investment prospects in the year 2021. In the year 2021, the real estate industry in Pakistan has seen more modern construction trends than at any other time in the country’s history. Mall 35 is a mixed-use development planned to be ten stories tall and ultramodern. It offers Pakistanis living abroad excellent opportunities for financial investment.
Also, with the establishment of Roshan Digital Accounts, the ease for overseas investors has been elevated to the next level. Park View Islamabad has just lately made an announcement regarding a limited-time offer for Pakistanis living abroad. According to this notification, overseas Pakistanis who possess a valid National Identity Card for Overseas Pakistanis (NICOP) and a Roshan Digital Account would be able to purchase ten marla and one Kanal plots that are now up for sale in Park View through their respective digital accounts.
Overseas Pakistanis are the only people permitted to participate in these real estate investment opportunities located in sectors J and K of the neighbourhood. Read this blog to learn more about the plots in DHA Islamabad that have been set aside for Pakistanis living abroad.
It is time for us to conclude now that we have enumerated and spoken about the most significant advances and improvements made in the real estate market in Pakistan in 2021. We really hope that you found this article to be helpful and educational. Please do not hesitate to contact us at [email protected] with any questions or comments you may have.
As a side note, you might also be interested in reading our blog post about how aka consultants. Developments will reach new heights of success in 2021 by introducing several high-end real estate projects throughout the country. Continue to check out the posts on aka consultants Blogs and subscribe to our email newsletters to stay up to date on all of the most recent happenings in the construction industry and read educational articles about the real estate market.