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Emaar DHA assigned PE 1 developer rating

The Pakistan Credit Rating Agency Limited (PACRA) and National Engineering Services Pakistan (Pvt) Limited (NESPAK) have assigned PE1 developer rating to Emaar DHA Islamabad Ltd, a joint venture between Emaar Pakistan and Defence Housing Authority (DHA) Islamabad.

The top-most rating by the apex credit rating authorities in the country signifies the “strong project execution capacity and the most promising prospects of execution of real estate projects” of the company.

The rating also signifies the company’s ability to transfer ownership as per terms. Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan on the occasion said, “The highest developer rating assigned to Emaar DHA Islamabad Ltd by PACRA and NESPAK, two independent agencies, signals the trust that the company has earned in a short span of time since our inception in Pakistan. The rating is a testimony to our project execution capabilities and a reiteration to our customers on our capability to deliver world-class lifestyle projects.”

Assigning the rating, PACRA and NESPAK observed that, “Emaar DHA Islamabad Ltd enjoys a clear edge over most of the real estate developers working in Pakistan mainly because of its strong affiliation with Emaar Properties, which has completed multiple projects.

Source: Daily Times

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