Dubai: Pakistan Consul General Hassan Afzal Khan has warned the overseas Pakistanis to beware of property projects back home before doing any investment.
Speaking at the opening ceremony of Pakistan International Property Exhibition (PIPEX) opened in Dubai on Friday, Khan appeals to the Pakistani expatriates to thoroughly investiage the legality of the property and housing project being offered by the Pakistani real estate agents and developers during the property exhibitions being held in Dubai. “I am sure most of the real estate projects being offered in this exhibition are genuine but even then everyone should thoroughly check the legal documents and the government permissions of the Pakistani projects being offered at any exhibition,” he added. Some 14 leading property exhibitors are participating in the two-day PIPEX which runs on January 28-29 at the Media Rotana Hotel in Dubai.
Approved projects
He said that every approved housing project in Pakistan must have approvals from the relevant authorities in Pakistan. “It is important to know what you are buying to avoid any fraud and losing money,” he reiterated. Consul General Khan also toured the stalls and inquired about the property projects on offer. He said that he was pleased to see the quality of projects at the exhibition.
Lucrative business
UAE based Pakistani businessman Khan Zaman Khan, Chairman of Ibrahimi Group, said that investing in property projects is a very lucrative business as investors can earn big profits. His group is building a shopping mall named ‘Abu Dhabi Mall’ in Islamabad in addition to a four-star hotel on a hill station in Swat. Imran Khattak, CEO of Globo Asia, the organiser of the exhibition, said that they are offering approved projects across Pakistan providing lucrative return on the investment. “Our community can buy these projects with peace of mind. They can buy for both long and short term investment,“ said a Dubai-based businessman Jannat Afridi, Chairman of Jannat Group.
Visit projects before buying
Chaudhry Khalid Hussain, President Pakistan Social Centre Sharjah, said that every Pakitani buyer must visist the housing scheme back home before buying investing. "Everyone must check with the local authorirties in Pakistan and even should get help from the Pakistani missions abroad to check the legality of projects to avoid any fraud," he added.
