huit
January 27th, 2005, 06:22 AM
Source: http://www.dailytimes.com.pk/default.asp?page=story_27-1-2005_pg7_39
Malaysia to construct 100,000 housing units
ISLAMABAD: A Malaysian company will construct 100,000 housing units for people with low incomes to overcome the shortage of houses in Pakistan.
This was stated by Datuk Syed, development director of the Metro Ikram Construction Company, who called on Syed Safwanullah, federal minister for housing and works, on Wednesday.
Datuk Syed said the company would conduct a survey all over the country to identify land with the help of the Board of Investment (BoI) to construct housing units.
The federal minister praised the Metro Ikram Company for taking interest in constructing houses in Pakistan and said that all possible help would be extended to the company.
The idea to establish a land bank was also discussed in the meeting to handle land matters with local and foreign investors for constructing the houses.
Mian Muhammad Jamil, Housing and Works Ministry secretary, the director general of the Board of Investment and other senior officials of the ministry were also present. Meanwhile, Datuk Syed also held a separate meeting with Waseem Haqqie, BoI chairman.
According to statement issued by the BoI, the company has proposed the construction of low-costing housing units, provided the public sector entrepreneur in Pakistan joins hand with the company.
A Malaysian bank will finance the project which will be completed in seven years.
The Malaysian company has vast construction experience and has constructed luxurious hotels. The company is also working on several large-scale construction projects in Turkey, Ghana, Senegal, South African and Morocco.
Mr Haqqie said the company could buy land from the private sector at market rate or explore possibilities to get land from government departments like railways, the Defence Housing Authority and provincial governments on agreed terms. staff report
Malaysia to construct 100,000 housing units
ISLAMABAD: A Malaysian company will construct 100,000 housing units for people with low incomes to overcome the shortage of houses in Pakistan.
This was stated by Datuk Syed, development director of the Metro Ikram Construction Company, who called on Syed Safwanullah, federal minister for housing and works, on Wednesday.
Datuk Syed said the company would conduct a survey all over the country to identify land with the help of the Board of Investment (BoI) to construct housing units.
The federal minister praised the Metro Ikram Company for taking interest in constructing houses in Pakistan and said that all possible help would be extended to the company.
The idea to establish a land bank was also discussed in the meeting to handle land matters with local and foreign investors for constructing the houses.
Mian Muhammad Jamil, Housing and Works Ministry secretary, the director general of the Board of Investment and other senior officials of the ministry were also present. Meanwhile, Datuk Syed also held a separate meeting with Waseem Haqqie, BoI chairman.
According to statement issued by the BoI, the company has proposed the construction of low-costing housing units, provided the public sector entrepreneur in Pakistan joins hand with the company.
A Malaysian bank will finance the project which will be completed in seven years.
The Malaysian company has vast construction experience and has constructed luxurious hotels. The company is also working on several large-scale construction projects in Turkey, Ghana, Senegal, South African and Morocco.
Mr Haqqie said the company could buy land from the private sector at market rate or explore possibilities to get land from government departments like railways, the Defence Housing Authority and provincial governments on agreed terms. staff report