Janbaz
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Malaysian company to invest $100m
OUR STAFF REPORTER
LAHORE - Provincial Minister for Housing & Urban Development, Syed Raza Ali Gillani has said that Punjab Housing and Town Planning Agency will set up a housing scheme at Jhelum in collaboration with a Malaysian construction company. The foreign company will invest 100 million dollars in the scheme. MoU will soon be signed in this regard, he added.
He was speaking at a briefing given by a 7-member Malaysian delegation headed by Datuk Mohamed Zaini Amran, Chief Executive of Bumihiway Group Malaysia which is currently on a visit to Pakistan to explore investment opportunities in residential projects for low-income people.
The Minister during a meeting with the delegation said that real estate sector is fast expanding in the country and investment in residential schemes has become a profitable business. He said that government is endeavouring to provide relief to the low-income people by providing them affordable residential facilities.
Syed Raza Ali Gillani said that after the enforcement of WTO, Punjab has become an ideal place for investment in South Asia as the government is providing a number of incentives for this purpose.
The Malaysian delegation assured its full cooperation for developing low-cost residential schemes. The members of the delegation said that they would again visit Pakistan for signing of MoU in this regard.
The Nation.
http://www.nation.com.pk/daily/feb-2007/9/bnews9.php
OUR STAFF REPORTER
LAHORE - Provincial Minister for Housing & Urban Development, Syed Raza Ali Gillani has said that Punjab Housing and Town Planning Agency will set up a housing scheme at Jhelum in collaboration with a Malaysian construction company. The foreign company will invest 100 million dollars in the scheme. MoU will soon be signed in this regard, he added.
He was speaking at a briefing given by a 7-member Malaysian delegation headed by Datuk Mohamed Zaini Amran, Chief Executive of Bumihiway Group Malaysia which is currently on a visit to Pakistan to explore investment opportunities in residential projects for low-income people.
The Minister during a meeting with the delegation said that real estate sector is fast expanding in the country and investment in residential schemes has become a profitable business. He said that government is endeavouring to provide relief to the low-income people by providing them affordable residential facilities.
Syed Raza Ali Gillani said that after the enforcement of WTO, Punjab has become an ideal place for investment in South Asia as the government is providing a number of incentives for this purpose.
The Malaysian delegation assured its full cooperation for developing low-cost residential schemes. The members of the delegation said that they would again visit Pakistan for signing of MoU in this regard.
The Nation.
http://www.nation.com.pk/daily/feb-2007/9/bnews9.php