Pakistan woos UAE investors for housing

Dubai News.Net
Monday 12th May, 2008 (IANS)

Pakistan has invited investors from the United Arab Emirates (UAE) to invest in its low-cost housing project announced by its Prime Minister Yousaf Raza Gillani last month.

'There is an annual demand of 850,000 housing units in Pakistan while the maximum production is about 350,000 units,' reports quoted Pakistan's Minister for Housing and Works Rehmatullah Kakar as telling the Pakistan Business Council here.

'It is the right time to invest in low-cost housing project in Pakistan through public-private sector partnership as the government offers various incentives to investors through one-window operation,' he said, adding that the country has received encouraging response from investors in Britain, France, Spain, Korea and the US so far.

Kakar said his ministry was in touch with leading UAE groups to invest in the mega project under which one million housing units would be built annually through joint ventures, build-operate-transfer (BOT) and turnkey operation modes.

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