LAHORE: A few years ago, Pakistan’s real estate sector was considered to be one of the most unorganised sectors of the economy. People who pegged their investments in real estate were mostly left embittered with traumatic experiences.
However, the situation is now changing.
While it may still take several years for awareness to become common, small steps have been taken.
Zameen.com Chief Executive Officer Zeeshan Ali Khan said that new avenues in real estate sector are opening and developers, real estate agents and investors are now more inclined towards digital platforms.
The property portal is organising its fifth property expo in Lahore, and Khan believes that it is helping developers and investors bridge the gap.
“Property expos in Lahore are always success stories, but the response we have received this time around is truly overwhelming. We are certain that property enthusiasts from across the city have appreciated the event,” Khan said.
The property portal has enhanced its marketing expenditure, since successfully securing over $30 million funding from different investors.
Khan said that the scale of property expos should be enhanced as there still exists a lot of knowledge gap in this market.
“There are around 1,000 developers and about 20,000 real estate agencies in Pakistan – a single expo can manage around 100 developers and agencies. What about the rest?” he asked.
Another interesting aspect is that women who have largely been alienated from the real estate industry in Pakistan are now playing a more active role in the property buying/selling process.
Published in The Express Tribune, May 29th, 2016.