Karachi (Muhammad Yasir)
The government should resume the affordable house financing
scheme through commercial banks to facilitate masses for purchasing
and constructing residential housing units to revive economic
activities across the country.
This was stated by the real estate tycoon and founder of Shangrila
City, Syed Afzal Hameed, at the annual meetup of developers and the
launch of one-window solutions for allotees of the international
housing project at a local hotel here on Thursday.
Speaking to the media, he said the real estate stirs commercial
activities in construction and various allied sectors, including
steel, cement, paint, cable, marbles, etc, which ultimately benefits
the economy through taxes and employment opportunities.
The real estate is the mother of construction industry, it contributes
a significant role to the GDP every year, he remarked.
Despite various challenges, the administration of Shangrila City
introduced housing projects for middle income groups, including an
international themed apartment, and began the process of procession to
allotees at a given time.
He added that owning a decent residential unit is a dream these days,
but it had been made possible through affordable projects launched by
On the occasion, CEO Al Meeraj Marketing, Kashan Siddiqui said the
success of any housing project depends on its construction,
facilities, amenities and payment structure, which the administration
of Shangrila City assured to win the trust of its customers.
He lauded the role of partners and dealers in this project to make it
successful, which began to receive booking of the housing units from
day one of the launch, receiving overwhelming response from the buyers
The annual event was also attended by the city’s renowned builders,
developers, and dealers.