Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has revealed that 3,383 new construction and real estate firms have registered with the government during the going fiscal year, according to a news report published on January 14.
It was revealed that this number is 32% higher than the ones recorded in 2019. Reportedly, SECP registered 2,560 and 2,022 real estate/construction firms in 2019 and 2018, respectively.
The sources associated this healthy increase in registrations with the construction package announced by the government last year that boosted growth in low-risk industries. Following encouraging responses seen for the amnesty scheme, the government announced another extension on December 31, 2020.
Sustainable Development Policy Institute Executive Director Abid Qaiyum Suleri said that people –during the coronavirus outbreak – found real estate as a suitable investment alternative as compared to other sectors that were doing well during the pandemic.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
