News Update Times

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Lahore (Muhammad Yasir) A multi-billion rupees investment agreement has been signed for Pakistan’s real estate sector as Dubai-based Samana Developers, one of the top 20 real estate developers in the UAE and a subsidiary of diversified Samana Group, has signed a key partnership with H&S Real Estate, a Dubai-based top performing real estate brokerage agency.

This decision was announced by senior officials of both the business giants at a joint press conference held in Dubai on Thursday.

The partnership has launched Emirates Developers, a new real estate development company incorporated in Pakistan. Emirates Developers will build mixed-used resort-themed communities in the tourist hotspots of Pakistan.

The agreement signing ceremony was witnessed by His Excellency Hassan Afzal Khan, Consul-General of Pakistan to Dubai, along with officials of the Consulate General of Pakistan, Samana Developers and H&S Real Estate.

His Excellency Hassan Afzal Khan, Pakistan Consul-General to Dubai, while appreciating the strategic partnership, said: “It is a proud moment for all of us and for the Pakistani community in Dubai that we are witnessing a double success story of Samana Developers and H&S Real Estate going to be replicated in Pakistan. I believe that the two well reputed real estate companies with their vision are going to create a new milestone in the real estate sector of Pakistan and attract much-needed investment to our homeland. I, on behalf of my colleagues in Pakistan mission in the UAE, share our best wishes to the success of Samana Developers, H&S Real Estate and the new venture Emirates Developers.”

Multi-award-winning and ranked amongst Top 50 Real Estate Companies in the Middle East, Samana Developers, is among top 20 real estate developers in the UAE. Throughout 2021 it was ranked number 16th in terms of the number of units sold out in a set timeframe. The ranking reflects the success of Samana Developers and its CEO Imran Farooq’s business strategy which focuses the end-user. For 2022, Samana Developers is looking at increased market share and expecting 35% more sales revenue projection in the UAE.

Mr. Imran Farooq, CEO of Samana Developers, said: “We are coming to Pakistan with high ambitions and bullish mindset. Despite the drop in currency, Pakistan’s real estate market is quite attractive with year-on-year growth projection as we see Pakistan’s population, which needs housing, continues to grow.

“We are not only developing another brick-and-mortar project but a lifestyle development with state-of-the-art amenities at par with the international standards, which we have achieved in Dubai. I believe today’s developers need to think outside the box to fill the gap between innovation, lifestyle and construction. That’s what we practiced in Dubai with Samana Developers. It gives a solid reason to buyers and end-users to invest in our projects. Our end-user business model has helped to be resilient during the Covid-19 pandemic. During the lockdown, we kept on building, and did not stop which continued the workflow, hence, cash flow from buyers to vendors.”

He added: “We had a choice of choosing a plot for single building but that would not be a lifestyle. That is the reason we picked up a cluster of large plots to create a community with facilities and amenities required for a good lifestyle. Anything one needs in a five-star hotel, will be available in the premium Emirates Developers projects at prime locations in Pakistan.”

Mr. Emad Haq, Vice-Chairman, and H&S Real Estate, said: “We believe it is a perfect synergy of two property experts with international experience – Emirates Developers and H&S Real Estate – who will present a living experience in Pakistan which will be unmatched. With group’s 50 plus years of combined experience in residential and commercial luxury real estate development, Emirates Resort project will be a jewel in the heart of beautifully landscaped Islamabad in close proximity to Murree, the lush green resort town in Pakistan.”

Emirates Developers will build a series of projects in Pakistan. Projects will develop a lifestyle with high-end luxury resort-themed apartments and fully-serviced. Residential projects will include one, two, and three-bedroom apartments, penthouses and suites of different size. Amenities will include round-the-clock concierge service, ambulance service, limo, chef-on-demand, nanny-on-demand, driver-on-demand, fine-dining, rooftop restaurants, basketball, volleyball, squash courts, gyms, jogging tracks, skate park, yoga studios, swimming pools, parks, rock climbing, kids play areas, access control system and round-the-clock security.

Emirates Developers will launch first mega project at a tourist hotspot of Pakistan in January 2022. Details of the projects will be revealed at a press conference to be held in Islamabad, the capital of Pakistan.

Islamabad (Muhammad Yasir) Leading the digital innovation in the country, Zong 4G, Pakistan’s leading cellular and digital services provider has signed a Memorandum of Understanding (MoU) with Special Communication Organization (SCO), in a bid to work in-step towards the Prime Minister’s vision of Digital Pakistan. In a major development to offer their mutual subscribers a seamless and faster connectivity experience across the AJK & GB.

Through mutual collaboration, Zong and SCO will expand the network across the length and breadth of the AJK & GB to provide unmatched experiences to the customers. Along with SCO having unmatched coverage area in AJK/GB, and preferred business partner, Zong 4G will ensure the development of a state-of-the-art system by utilizing the new technologies in optimizing processes for network expansion and higher efficiency. With the company’s extensive experience in Mobile services and SCO`s remarkable infrastructure our mutual customers will be served with the most advance and reliable services across the country and especially in the AJK&GB region.

“We can confidently claim to have the most advanced network, providing cutting-edge mobile services to its valued consumers in the AJK&GB region,” stated Maj Gen Muhammad Shahid Sideeq, DG -SCO. “Zong is a highly innovative telecommunications firm in Pakistan leading the country’s ICT-powered digital transformation. I am confident that the biggest beneficiaries of this collaboration are going to be the people of AJK & GB.”

“Our strategic cooperation benefits both partners and, more significantly, the people of AJK & GB,” stated Wang Hua, Chairman & CEO Zong 4G. “This agreement will ensure that resource-sharing benefits both enterprises and that the public receives superior products and services, improving their quality of life. The partnership, which aligns well with our vision of Digital Pakistan, is a huge testament to our care for AJK & GB community and our commitment to meeting their ever-changing connectivity needs.”

In September, Zong (CMPak) emerged as the highest bidder for the 1800 MHz spectrum auction for Azad Jammu & Kashmir (AJ&K) and Gilgit Baltistan (GB). Earlier this month, Zong launched its LTE services in Azad Jammu and Kashmir, achieving exceptional results in user speed and traffic. Zong’s LTE testing in the region was recently completed with the throughput experience improving up to 10-20 Mbps depending upon backhaul capacity across AJK and its various districts.

SCO being the most reliable partner of ZONG having cutting edge technology in remote areas of AJK & GB and ZONG being the leader of digital transformation, together this partnership is a testament to the company’s commitment to providing unparalleled services to its customers.

Lahore (NUT-DESK)

60 to 70 per cent of the Pakistan State Oil (PSO) petrol pumps are operational across Pakistan, a spokesperson for the state-owned company said.

He said that there are more than 3,500 PSO petrol pumps in the country, 60 to 70% of which are operational.

The company has received purchase orders for 6,500 metric tonnes of petrol and 6,000 metric tonnes of diesel over the last five hours, meaning citizens are being provided fuel uninterrupted.

Most of the petrol pumps across the country discontinued selling fuel today as petroleum dealers went on a nationwide strike for an indefinite period in protest against low profit margin, troubling commuters and motorists.

Almost all petrol pumps were shut in Karachi, Lahore, Peshawar, Quetta and other cities of the country. Panic gripped major cities on Wednesday as citizens rushed to petrol pumps to top up tanks of their vehicles.

The petroleum dealers are demanding an increase of up to six per cent from the current three per cent in their profit margin.

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Lahore (NUT-DESK)

Prime Minister Imran Khan said on Thursday that e-commerce is vital for employment generation and economic growth.

Speaking to Bjarke Mikelsen, Group CEO of Daraz, an online e-commerce platform, who called on him at the PM House, Prime Minister Khan said Pakistan offers huge potential for e-commerce that will generate employment opportunities and help in economic growth.

He said that the government is providing full support to foreign investors under its “Ease-of-doing-Business” policy.

The CEO Daraz expressed interest in further investment and expansion of e-commerce in Pakistan.

Adviser to the PM on Finance Shaukat Tarin, Special Technology Zones Authority (STZA) Chairman Amir Hashmi, Senator Aon Abbas Bappi, and managing director of Daraz Ehsan Saya were present during the meeting.

On Wednesday, the prime minister appointed Senator Aon Abbas Bappi as his Special Assistant on e-commerce. The Cabinet Division issued notification of the appointment of Aon Abbas Buppi as SAPM. Buppi previously served as Managing Director Pakistan Bait-ul-Mal.

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