UAE-based group shows interest in investing in real estate sector

ISLAMABAD: A United Arab Emirates based business group having 270 companies across the world - The Bu Abdullah Group of Companies has shown interest to invest in Pakistan’s real estate sector.

Visiting Islamabad Chamber of Commerce and Industry, Dr. Bu Abdullah chairman of the group expressed his interest for making joint ventures and investment in Pakistan.

He held a detailed meeting with the president and other senior office holders of the chamber and discussed various avenues of the economic cooperation between the two countries’ business groups.

Dr. Bu Abdullah said that his group owned more than 270 companies in Asia and other parts of the world with business interests in real estate, legal and business consultancy and was now interested in tapping the Pakistani market for business and investment.

It is pertinent to mention Bu Abdullah Real Estate has over 1000 residential, commercial, and retail properties with diverse verticals which reflects its dedication to developing ecosystems for changing needs.

Chairman ICCI Muhammad Shakil Muneer paid gratitude to the visiting business mogul from the UAE and briefed him about great investment prospects available in Pakistan’s real estate and construction sector.

He reminded that construction was a booming industry in Pakistan spurred by the construction package announced by the government and it was the right time for foreign investors to tap Pakistan’s real estate sector for partnerships and investment. The ICCI President recalled the UAE is one of the biggest trading partners of Pakistan with a bilateral trade volume of over $8 billion, which is an encouraging sign.

He briefed the delegation from the UAE about the fast pace of projects under China Pakistan Economic Corridor (CPEC) and said that the operationalization of the Gwadar Port would create many new opportunities for the business community of UAE as Pakistan would link the Middle East with Afghanistan and Central Asia.

The Pakistani sea port has a massive investment potential for the UAE and Gulf Cooperation Council (GCC) countries. He assured that ICCI would fully cooperate with Bu Abdullah Group in finding right partners in Pakistan.

The ICCI office-bearers said that there was a great potential to further boost bilateral trade, investment, and tourism between Pakistan and the UAE. They were of the view that the close cooperation between Pakistan and the UAE would also contribute to promote regional security and economic prosperity.

The visiting delegation earlier also had an important meeting with UAE ambassador in Pakistan, Hamad Obaid Ibrahim Salim Al-Zaabi. The ambassador appreciated the visit by the business group.