Displaying extraordinary confidence in the economy of the country, Arif Habib Group Chairman Arif Habib has said that his group is determined to continue investing in Pakistan because there are enough sectors in which there is little or no competition.
“The very fact that not many foreign investors are willing to come to Pakistan is an opportunity in itself for Pakistani businesspersons as it means there is little or no competition in various sectors,” Habib told The Express Tribune after the launch of a new apartments complex in the Naya Nazimabad housing society on Saturday.
“Low competition means more profits on investments,” he said. “This is why you see that business groups in Pakistan have continued to enjoy double-digit growth over the past few years.”
“When I started my career four decades ago, my salary was just Rs60. Look at me today, and see how I grew in Pakistan within the context of political and economic crises like in the 70s and the 80s, and then again in the 90s and in the last decade,” Habib proudly pointed out.
With the numerous challenges it has faced in its turbulent history, Pakistan has always managed to grow, said Habib. “These are difficult times, but I have no doubt that the future growth of Pakistan will be considerable,” he added.
The developers of Naya Nazimabad, a mega housing project located on the outskirts of Karachi, say that they have received an overwhelming response since their first launch more than a year ago.
After the successful sale of housing units and plots in Naya Nazimabad, Javedan Corporation has now offered Parkview Apartments – a project sponsored by Arif Habib, AKD and Ghani Osman Hum Group – Habib said, while unveiling the project at a ceremony organised at the site office.
Park View Apartments have a range of two, three and four bedroom apartments, and are located at a prime location within Naya Nazimabad. “We wanted to offer these flats at competitive prices with affordable payment terms,” said Habib, adding that people are expecting quality projects from his company, which is why he wanted to build the first flat project himself. He wants other builders in Naya Nazimabad to follow the same quality standards.
To further its commitment to fostering a progressive living environment in Naya Nazimabad, the management is working extensively on the design of a Health and Education City, he added.
The Naya Nazimabad School is managed by The Citizens Foundation, and has been operational since April 2012, imparting quality education to youth from the surrounding residential areas.
Naya Nazimabad already has a central mosque, an open air mall and a family entertainment complex, while upcoming facilities include a bank street and the Gymkhana Club. The Government of Sindh has extended its full support to widen the road network, especially Anwar Shameem, which will ensure a comfortable drive to the residential complex for residents, a speaker at the press conference said.
Published in The Express Tribune, February 17th, 2013.
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