Real estate business is considered as one on the leading & profitable business in Pakistan from the decades. Since Pakistan come into being so many largest & grand societies came into the existence in Pakistan. The Real Estate & Construction companies worked a lot to turn the raw arid land into the developed cities. Most of the cities have been established & developed by Real Estate Sector of Pakistan.
But in these days many of the real Estate business have been caught in the crises due to COVID-19. Despite the COVID-19 is a very alarming consequence in Pakistan for the real estate business. Pakistan is suffering from many issues in 2020 like political instability, unrealistic polices & now the worst situation of COVID-19.
Due to restrictions in imports & exports the Real Estate Builder are unable to get the proper construction material, this is another big issue for Real estate sector. The construction sector of Pakistan is largely dependent on the import of raw material for building due to corona they are unable to meet the requirement.
The population is increasing rapidly in the country & there is less attention paid by the Govt. to overcome this issue the budget for construction industry is very low to meet the needs of the construction sector as a result the private sector has to take initiate to build the new societies as they made many grand societies Bahria & DHA. Pakistan Real Estate Business is suffering