Realty sector, a building block of economy: FPCCI

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday said the real estate sector is playing an important role in the economic development of the country.

“Construction sector grew by nine percent, which indicates its strength, but this robust sector needs help of real estate sector,” Zubair Tufail, the FPCCI president said in a statement.

“The country needs more homes for the growing population, office spaces for expanding businesses, and facilities for workforce.”

Tufail said that benefits of economic growth can only be reaped, if the masses have proper housing, businesses proper space. “It will not be possible if the local as well as foreign investors cannot invest with confidence in realty sector,” said he.

He was of the opinion that realty is an enabler of economic activity as it offers the space for businesses to operate without which an advanced economy could not operate. 

Moving forward, Tufail said that the FPCCI will play its role in resolving the issues of the real estate agents.

Meanwhile, Mian Shaukat Masood, vice president FPCCI and Malik Sohail, chairman coordination FPCCI, met with the office bearers of Islamabad Real Estate Agents Association and delivered the best wishes of the president of the chamber to them.

Speaking on the occasion, the FPCCI officials said that the FPCCI president had,
in the past, inadvertently said something about this vibrant sector for which he was sorry.