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Overseas Pakistanis seek one-window facility for real estate approvals

Lahore: According to recent news published on the 23rd of January, Overseas Pakistanis have started to have a keen interest in making investments in local real-estate development projects. They have requested the Board of Investment (BOI) to create a one-window facility for acquiring the necessary approvals and licenses from multiple government agencies to reduce red-tapism and boost investment.

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Tarek Hamdy, the CEO of the esteemed housing society “Eighteen” has also spoken on the matter. He conveyed concerns of Overseas Pakistanis and foreign investors associated with the real estate industry. He said that the BOI needed to be authorized to provide a one-stop facility for the completion of all validities on a fast-track basis to promote investment in the sector.

Read More: Land record facilitation centers in works for overseas Pakistanis

All concerning development, gas, electricity, highways authorities operate under their own processes and procedures to facilitate the customers. Hamdy disclosed that with all the different bodies like LDA, NHA, CDA, and SNGPL, the foreign investors get confused about what needs to be done and where. He stressed on restructuring of the processes as it delays the potential for foreign investments.

For more information on the matter, visit our website Property News.

 

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