Government Must Facilitate Real Estate Sector to Accelerate Economic Growth: Sardar Tahir Mehmood

WNAM REPORT: President of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood, has urged the government to adopt proactive policies to facilitate Pakistan’s real estate and construction sector and extend attractive incentives to foreign investors in the backdrop of the ongoing geopolitical tensions and uncertainty in the Middle East.
He said that the evolving situation in the Middle East has created uncertainty for investors and businesses in the region, which provides Pakistan with a timely opportunity to position itself as a secure and profitable destination for investment, particularly in the real estate and construction sector.
Sardar Tahir Mehmood emphasized that the real estate sector plays a pivotal role in Pakistan’s economy as it drives more than 40 allied industries, including cement, steel, tiles, electrical equipment, glass, paints, sanitary fittings, transport, architecture, engineering and interior design. He noted that strengthening this sector would not only stimulate economic activity but also generate large-scale employment opportunities across multiple segments of the economy.
He said that Pakistan’s rapidly growing urban population and increasing housing demand make the country an attractive destination for foreign investment in housing, commercial infrastructure and mixed-use development projects. Encouraging overseas Pakistanis and foreign investors to invest in the real estate sector would significantly boost economic growth, expand the tax base and enhance economic stability.
The ICCI President stressed that the government should introduce investor-friendly measures, including tax incentives, simplified documentation, protection of property rights, transparent regulatory mechanisms and digital land record systems to enhance investor confidence.
He further said that facilitating the real estate sector would activate a chain reaction in the economy by stimulating construction activities, boosting demand for building materials, supporting small and medium enterprises, and creating employment opportunities for engineers, architects, contractors, skilled labor and daily wage workers.
Sardar Tahir Mehmood also recommended that the government should launch special investment packages for overseas Pakistanis and international investors, particularly from the Middle East, to encourage them to invest in housing projects, modern urban infrastructure and commercial real estate in Pakistan.
He said that the Islamabad Chamber of Commerce and Industry firmly believes that reviving and promoting the real estate sector can serve as a powerful engine of economic growth, especially at a time when the country needs to stimulate investment, expand employment opportunities and strengthen economic activity.
He assured that ICCI would continue to work closely with the government and relevant stakeholders to promote policies that support the real estate sector and attract foreign investment for sustainable economic development in Pakistan.