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Pakistan Property News & Trends

Muslim Town flyover turns a white elephant

LAHORE – Sluggish construction apart, but building more and more flyovers for this ancient city would ultimately herald new businesses and further ease the traffic. The benevolent idea falls apart when the time is not on the side of those executing a project. This is exactly what is currently happening with the company constructing the[…]

Gwadar will be a centre for trade, says Raisani

Balochistan CM says port to become gateway to access Central Asia Future of nation attached to functioning of Gwadar port QUETTA: Balochistan Chief Minister Nawab Raisani, while highlighting the importance of the Gwadar seaport, said that it would become a centre for trade and would be a gateway to access resource rich countries of Central[…]

Gwadar, the future economic hub

Gwadar, “The Future of Pakistan”, is a Balochi word which means “Door of Wind”. However, looking into the future, it can be referred to as the “Door of Prosperity Wind”. Let this wind dry the sweat of people who have worked hard and may this wind turn into a fragrance of prosperity for every home[…]

Plots allotment demanded

ISLAMABAD: Plot seekers in CDA’s housing society Margalla Retreat have voiced grave concern over non allotment of plots in the society. “We have submitted applications 2 months ago to get plots but we have not received any intimation about thd allotment process,” they said. “We are from low income group of society and paying rent[…]

Dubai Industrial City sees 15% growth next year

Dubai: Dubai Industrial City has completed the infrastructure of about 30 per cent of its area after investing Dh588 million in the projects over the past four years, it said in a statement to Gulf News. Power, water, sewage, irrigation and telecom systems are now up and running on 15 square kilometres out of the[…]

Green belts turning into parking lots

Islamabad—The Capital Development Authority (CDA) are turning a blind eye towards the green belts which have been turned into parking lots in federal capital. It has been observed that the areas allocated for green belts are in a miserable condition.

Aashiana-II to open soon: CM

LAHORE: Chief Minister Shahbaz Sharif has said that besides extension of the project of Aashiana Housing scheme at Saroba Attari, the foundation stone of Aashiana-II at Burki will be laid soon. He was presiding over a meeting to review the progress on Aashiana Housing project. The meeting reviewed in detail Aashiyana Housing Schemes in Lahore[…]

Dubai real estate agents doubling up on charges

Some real estate agents in Dubai have resorted to charging commission fees to both buyers and sellers in a bid to bolster revenues that have fallen by nearly two-thirds, industry sources said. Agents who raked in profit at the peak of Dubai’s housing bubble are now doubling up on fees after monthly real estate transactions[…]

Protest against LDA, CDGL for blocking plots transfer

Hundreds of owners of land in Sabza Zar held a protest against the LDA and the City District Government Lahore (CDGL) for illegally blocking the transfer of their plots. They demanded of PML-N President Nawaz Sharif, Punjab Chief Minister Shahbaz Sharif and the Chief Justices of Supreme Court and the Lahore High Court to take[…]

Development work in Sector I-16 in last phase: CDA

ISLAMABAD: The Capital Development Authority (CDA) has completed more than 90 percent of the development work in Sector I-16 and the allottees have started construction of their houses in the area, said CDA Chairman Imtiaz Inayat Elahi on Thursday. He was briefing members of Senate Standing Committee headed by Senator Kulsoom Parveen during their visit[…]

New Gwadar International Airport to be completed by 2014

ISLAMABAD, Nov 22 (APP): The under construction New Gwadar International Airport, which was due to be completed by end of 2013, would now be completed by December 2014. According to official sources, the PC-1 of New Gwadar International Airport Project was approved in September 2008 with implementation schedule of 48 months. The initial Site Protection[…]

Climax of DHA Cinema fiasco looms

LAHORE – The tug of war between the Defense Housing Authority (DHA) and the DHA Cinema management is about to reach its climax as December 1, the day the cinema is scheduled to reopen, closes in and the cinema’s closure is being challenged in court. The DHA has remained stable on its claim that the[…]

FIA seeks record of 5 farms from CDA

ISLAMABAD – The Federal Investigation Agency (FIA) has sought complete record of recently approved five cases of agricultural farms by the Capital Development Authority (CDA) Board. The investigation agency that is already probing massive irregularities into allotment of farmhouses, wrote to authority on November 18 asking it to submit the record of five agro farms[…]

Emaar sees niche for low-cost housing in Dubai

Emaar Properties, developer of the world’s tallest building, is in talks with several UAE emirates to roll out affordable housing schemes and plans to concentrate on Dubai first, its chairman said. Despite a housing market that is widely seen as being oversupplied, Mohamed Alabbar said Dubai still has room for properties at a price point[…]

Dubai real estate sales down 70% from peak

Dubai saw less than 1,700 real estate deals in the first ten months of the year, government data shows, a 70 percent decline on sales made at the housing market’s peak in mid-2008. Some 1,603 deals were signed off in the ten months to October, down from 5,363 during the same period in 2008, data[…]

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