Indonesian companies to develop real estate projects in Pakistan: Sanaullah
Islamabad, July 23, 2013 (PPI-OT): Indonesian Investment Companies are exploring the possibility of developing real estate projects in Pakistan. According to Ambassador of Pakistan to Indonesia, Sanaullah, recently two Indonesian Companies, namely Pelangi Property and Indo Property have been invited by a Pakistani company, namely, Pioneer Associates to hold discussions over the prospects for development of a new Sector of CDA in Islamabad. Senior management belonging to two Indonesian firms were issued visas, says a press release received here today from Jakarta.
Ambassador Sanaullah said in Jakarta that this was the first time that Indonesian real estate developers have been approached by Pakistan for technical cooperation and financial investment with the possibility of entering into joint ventures.
It may be recalled that Indonesian companies in recent past have developed new residential areas in big and small cities to accommodate its fast growing middle class. In comparison with Indonesian prices, Pakistani market would be lucrative for the Indonesian investors and may emerge as an additional avenue of cooperation between the already growing economic relations between the two countries.
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Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
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