Lahore: The Securities and Exchange Commission of Pakistan (SECP) has registered a whopping 4,791 new real estate development and management firms during the current financial year (FY) 2021-22, news sources reported on November 29.
The number is higher than in any preceding year in the previous decade, suggesting rapid expansion in the construction and real estate industries. The report also stated that 26,502 new firms were established during FY-22, representing a 4% increase over the previous year. As a result of this expansion, the total number of registered firms has reached 172,234.
The report also highlighted the following number of new business entities that were registered over the same time period:
In terms of SECP registration portal efficiency, over 99.4 % of firms were registered online, and over 23% were registered on the same day. Furthermore, 64% of firms were registered as private limited companies, 33% as sole proprietorships, and the remainder as public unlisted, not-for-profit groups, trade organizations, foreign corporations, or limited liability partnerships.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
