KARACHI: Egyptian billionaire Naguib Sawiris has offered to build 100,000 housing units in Pakistan to help realize Prime Minister Imran Khan’s dream of an ‘ambitious’ housing project, officials said on Friday.
“Naguib Sawiris has expressed his will to invest in 100,000 units of affordable housing to help prime minister (Imran Khan) in his vision toward Pakistan,” Tarek Hamdy, Chief Executive officer of Elite Estates — a partnership between Ora Developer and Saif Holding — told Arab News in an exclusive interview.
Owned by Sawiris, Ora Developers is already engaged in the construction of a multibillion-dollar housing scheme named ‘Eighteen’ which was launched in 2017 in Islamabad with local partners, Saif Group and Kohistan Builders.
Sawiris’ first investment in Pakistan was in Mobilink, a cellular operator.
PM Khan in October 2018 had launched ‘Naya’ (New) Pakistan Housing Project in line with his party’s election manifesto, which promised fivr million houses for the poor.
Hamdy says they have “set rules or guidelines of the way of doing things” that apply to every real estate projects — whether they are affordable or high value units.
“We will use our experience and knowhow to deliver this properly to the people of Pakistan,” he added.
Since the announcement of the low-cost housing project for the poor, the scheme has been at the heart of all political and economic discourses with several calling it too ambitious.
“This scheme is very ambitious yet very promising for the people of Pakistan. I think all the developers should help in this scheme. You cannot solely rely on the government to build five million houses,” Hamdy said.
Recently, the governor of Pakistan’s central bank had said that the massive housing project would require financing of upto Rs 17 trillion.
Hamdy believes that the promise of building five million affordable housing units cannot be realized in a short span of time. “I think the plan is right but it has to be in stages, has to be in steps. It could be achievable obviously that is not the project (to be achieved) in one or two years... may take few good years, may be couple of decades to be achieved,” he said.
In the Islamabad project the Ora Developers own a 60 percent stake in the project comprising a five-star hotel, 1,068 housing units, 921 residential apartments, business parks, hospitals, schools and other educational facilities and 13 office buildings, and a golf course. The networth of the project is $2 billion.
The next cities on the radar for real estate projects are Lahore, Karachi, and Faisalabad. “We intend to do more, we intend to invest more. I think that our portfolio of real estate could come to $10 billion worth of investments in the next five to 10 years including all the projects that we intent to do,” Hamdy said.
Pakistan’s housing sector is marred by frauds, scams and unfinished schemes which has been discouraging many potential investors from venturing into the sector. However, Hamdy says he is confident of delivering the promise by 2021.
Analysts say that Pakistan’s housing sector offers great opportunities for investment due to increasing demand. “According to estimates, the current real estate market value is around Rs900 billion which is three times that of the GDP,” Saad Hashmey, an analyst at Topline Securities, told Arab News, adding that the PM’s housing project is the need of the hour.
Pakistan faces a shortage of nearly 12 million housing units that may require a massive investment of around $180 billion, according to the former Chairman of the Association of Builders and Developers, Arif Yousuf Jeewa.
Pakistan expects to attract more than $40 billion foreign direct investment in the next five years in oil refining, petrochemical, mining, renewable energy, and real estate sectors. “We estimate that roughly around $40 billion investment will be made by three countries (Saudi Arabia, the UAE, and China) during the next three to five years,” Pakistan Board of Investment BoI chief, Haroon Sharif had told Arab News earlier, adding that “the investment would start materializing within the next two years”.
Egyptian billionaire offers to build 100,000 housing units in Pakistan
Egyptian billionaire offers to build 100,000 housing units in Pakistan
- Plan to construct 5mn housing units requires Rs17tr, State Bank says
- Group is already investing in a housing project in Islamabad
Amnesty urges Pakistan to halt deportations of Afghan refugees
- Rights group’s letter to PM Sharif warns deportations violate non-refoulement, expose Afghans to abuse
- Pakistan says it has hosted Afghans for decades with respect, denies mistreatment during repatriation
ISLAMABAD: Amnesty International has urged Pakistan to stop the detention and deportation of Afghan refugees, warning that mass expulsions could expose many to serious human rights violations, according to an open letter the group’s South Asia office posted on X on Friday.
The letter, dated Jan. 1, was addressed to Prime Minister Shehbaz Sharif and comes as Pakistan presses ahead with a multi-phase campaign to repatriate undocumented foreign nationals, most of whom are Afghans who fled decades of war and persecution.
“Amnesty International calls on the Pakistani authorities to halt the deportation of Afghan refugees and ensure that individuals with international protection needs are safeguarded as per international human rights law,” the organization said, warning that the policy violated the principle of non-refoulement, which prohibits returning people to countries where they risk serious abuse.
Amnesty said Pakistan had provided sanctuary to Afghan nationals for decades, but its policy has shifted sharply since the launch of the “Illegal Foreigners Repatriation Plan” in September 2023, describing it as potentially “one of the largest forcible returns of refugees in modern history,” which it said was marked by a lack of transparency, due process and accountability.
The rights group cited data from the United Nations High Commissioner for Refugees, saying arrests and detentions of Afghan refugees had increased tenfold last year, with more than 115,000 cases recorded. It said detainees often had little access to legal representation or family members, and that children were among those arrested.
According to the International Organization for Migration, nearly 1.5 million Afghans have returned since the deportation drive began, with almost half of those returns taking place in 2025 alone. Amnesty said deportations were frequently carried out swiftly, with limits imposed on the money and belongings refugees could take with them.
The group also warned that journalists, human rights defenders, women dissidents and former government officials were being deported despite heightened risks under Taliban rule in Afghanistan, where Amnesty has documented extrajudicial killings, arbitrary detention, torture and severe restrictions on women and girls.
Pakistan has not issued a response to the letter.
However, officials in Islamabad have previously said Pakistan has hosted Afghan nationals for decades with respect, sharing its resources despite limited international support. The Pakistan Foreign Office said last year that mechanisms were in place to ensure no one was mistreated or harassed during the repatriation process.
Pakistan has also claimed that Afghan nationals have remained involved in militancy and crime, though the mass expulsions are widely seen as an attempt to pressure Afghanistan’s Taliban authorities to curb cross-border militant attacks by armed factions targeting Pakistani forces, particularly in Khyber Pakhtunkhwa and Balochistan.
International organizations, including the UN refugee agency, have also urged Pakistan in the past to halt forced deportations and ensure that any returns are voluntary, gradual and dignified.
