Proposal to build 160,000 Housing Units in Pakistan

The Government of Province of Punjab, Pakistan has invited Renexus of Malaysia to Pakistan to process its proposal to build 160,000 housing units on fast track basis. In a letter addressed to the Executive Chairman of Renexus (M) Bhd Mr. John B. Klerr, Vice Chairman of Punjab Board of Investment & Trade, Pir Saad Ashanuddin invited the top management of Renexus to visit Lahore, Pakistan to fast track the proposal earlier submitted by the Renexus to Pakistan to build twenty thousands (20,000) low cost housing units in each of the eight major towns initially identified for the construction of housing units.
The town identified are Lahore, Multan, Bahawalpur, Faisalabad, Sargodha, Gujaranwala, Rawalpindi and Sialkot.
The proposal of Renexus was discussed threadbare by the a Committee constituted by the Government of Punjab, Pakistan to oversee the housing sector proposals in the province and observations made by the committee has already been communicated to the Renexus for obtaining further information on the proposed project.
The High Commissioner for Pakistan in Malaysia while commenting on the invitation of the Government of Punjab to Renexus termed it as a unique opportunity for Renexus for gainful investment in the highly deficient housing sector of Pakistan and a good opportunity for Pakistan to engage Renexus for overcome acute shortage of housing units in Pakistan.
The High Commissioner also invited other Malaysian companies to take full advantage of government of Pakistan’s vision to provide decent housing facilitates to low and middle end family groups.
The province of Punjab with a population of eighty two (82) million alone facing a shortage of five (5) million housing units with an incremental demand of seven hundred thousands (700,000) units per year against the annual production of one hundred and fifty thousand (150,000) housing units, leaving a huge gap resulting in creation of immense opportunities for the construction firms.