LAHORE: President Asif Ali Zardari called for stronger investment between Pakistan and Saudi Arabia on Thursday during a visit to a Lahore property exhibition bringing developers and prospective investors from both countries together.

The three-day Saudi–Pakistan Real Estate Exhibition, which runs through Friday, features Saudi companies showcasing projects in Makkah and Madinah. The president’s office said participating firms were also exploring potential investments in Pakistan.

The exhibition follows Saudi Arabia’s easing of foreign property ownership rules in January, opening opportunities for Pakistani buyers subject to restrictions on location and property type. Pakistan, meanwhile, is seeking more Saudi investment as it works to strengthen its economy.

“Speaking on the occasion, the President emphasized the importance of translating the longstanding and fraternal relations between Pakistan and Saudi Arabia into stronger economic partnerships, increased investment and mutually beneficial business opportunities,” the President’s Secretariat said in a statement.

Zardari said Saudi Arabia had stood by Pakistan through difficult times and welcomed efforts to bring the two countries’ business communities together, according to the statement. He called for conditions that would make it easier for foreign companies to invest in Pakistan.

The exhibition at Lake City includes Saudi real estate and investment companies Safa Investment, Knowledge Economic City, Sumou Investment, Al-Majidiya, Ulo Real Estate, Al-Diyar Al-Arabiya, Bin Daood Investment and International Gate Investment, the presidency said.

Prince Mansour bin Mohammed Al Saud, chairman of the Saudi–Pakistan Business Council, and the council’s vice chairman, Abdul Aziz Al-Ashrafi, are participating. Zardari was briefed on the companies’ projects during his visit.

Pakistan and Saudi Arabia have sought to expand commercial ties beyond their longstanding financial and security relationship. Saudi and Pakistani businesses announced agreements and memoranda worth $2.8 billion in 2024.