FROM MENAHILL RASHID
FAISALABAD: The rapid development of the real estate sector will have a positive impact on the national economy. This was stated by Atif Munir Sheikh, President, Faisalabad Chamber of Commerce and Industry(FCCI) while addressing an introductory function on Olive City Lahore. He said that there is a shortage of 10 million houses in Pakistan at present which will increase to 13 million by 2025. He said that most of them are in urban areas where those who have migrated from rural areas also need new houses. He said that despite their best efforts, the federal and provincial governments have failed to meet this basic need of the people, however, the private sector has played a very active role in this regard and a large number of residential colonies across the country are becoming in action.
He said that in this age of competition some of the leading institutions were developing state-of-the-art and standard residential colonies where significant arrangements have been made for controlling environmental pollution. He appreciated the services of Lahore Properties in this regard and said that this company is also constructing military towers, Autograph by H&S in Lahore besides Zaitoon City where all modern facilities would be provided. He added that there would be plots of 10 marlas in Zaitoon City while a Toyota Corolla car would also be distributed among the first 100 buyers through lottery. He said that business people of Faisalabad have to travel to Lahore for their work so they need an alternative place of residence in Lahore and they can take advantage of the excellent location of Olive City and its other facilities. On this occasion, Engineer Rizwan Ashraf, Rehan Ashraf Sheikh, Farhan Ali Sheikh and Ahmed Bilal gave a detailed presentation about various projects of Lahore Properties and said that for the convenience of buyers, recovery can be done in easy installments. A large number of traders from Faisalabad participated in the event while Lahore Properties hosted a sumptuous Iftar Dinner.
