December 07, 2018
Government Announces to Form a New National Tax Agency
Minister of State for Revenue Hammad Azhar announcCONTINUE READING
According to the recent Global real estate transparency index report, Pakistan has successfully improved its position from 88 to 75, from 2016 to 2018, respectively. This is a clear reflection of how real estate market in Pakistan is booming and there is a considerable increase in transparency.
Pakistan managed to get a score of 3.99 in the biannual Global Real Estate Transparency Index report for the year 2018 and placed just behind Iran. The United Kingdom stood first on the list after having a conclusive score of 1.24. India is another Asian country that made significant progress in the report after conceding 35th rank globally.
The report lists around 100 countries and 158 cities which are ranked based on a total of 186 factors. Some of the major factors on which countries are compared and then ranked include but are not limited to Market Fundamentals, Governance of Listed Vehicles, Performance Measurement, Regulatory & Legal, Sustainability, and Transaction Process.
The improvement in the transparent procedures in real estate markets of Pakistan and Saudi Arabia was mentioned in the report. It said that,
“Saudi Arabia and Pakistan have also seen rising transparency over the past two years, with regulatory reforms and increased data collection and publication by government bodies and international market participants contributing to their progress.”
This is a really good development for pakistan real estate market which needs to recover itself from repetitive crises in the market. The country’s business community and business tycoons are trying to uplift the market by minimizing the flaws and shortcomings it contains. Aqeel Karim Dhedhi has always worked and is still working on to play his role in booming the real estate market.