KARACHI: International Hospitality Investment Group (IHIG) Pakistan, a subsidiary of IHIG UK, has announced that it would build shopping malls with fractional ownership system to expand its portfolio.
The first project under its real estate division was launched in the heart of Karachi as a part of IHIG’s investment expansion plans in Pakistan, a statement said on Thursday. IHIG Pakistan Chairman Alun Richards said, “The fractional ownership system, though new in Pakistan is in business all over the globe successfully, particularly in the destination countries. It is a form of collaborative consumption where the overall cost of a property is split among a group of owners or users.”
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