Dubai-Citing the UAE as a prime example of a place where one can invest easily, experts from the realty sector detailed the checks and balances that need to be in place for people to consider investing in Pakistan.

“Real estate laws and regulations need to evolve in Pakistan,” Zeeshan Ali Khan, CEO of Zameen.com, told Arab News on the sidelines of the

‘Pakistan Property Exhibition’ , a two-day event taking place at the Dubai World Trade Centre.

Khan said that even though the real estate sector is booming in Pakistan, there are still a lot of things to do for the authorities, especially in terms of making the laws more friendly for investors.

“Complicated paper and bureaucratic work often discourages non-resident Pakistanis from investing, as they don't have time nor enough resources to run from one office to another,” he said, adding that while Pakistan allows foreigners to invest in property, the process itself is very complicated.

“There is a huge interest but due to lack of clarity, foreign investors are hesitant to invest. We need to make things easier to attract more investors. Dubai is the best example of a city that has made things easier for its investors,” Khan said.

Not all is lost though, he says.

Heading zameen.com, a renowned property portal in Pakistan, Khan said the response this year has been overwhelming with more than 60 developers taking part as compared to 25 from last year  -- something which he attributes to the change in government and the growing economic opportunities back home. “People are enthusiastic and want to invest in their home country. It is because of the rising hope with the new government and also the trickledown effect of the CPEC and other economic opportunities in the country,” he said.

Zooming in on the most popular cities for investment, representatives said majority of the prospective investors were interested in residential projects in Lahore and Islamabad. “Lahore and Islamabad are the most demanding cites in Dubai and then Karachi,” Saqib Malik, a representative of Islamabad’s property project ‘Bin Alam City’, said. This, Malik said, could be attributed to a better quality of life and an eco-friendly environment in both the metros.

Ahmed Shaikhani, President of the Pakistan Business Council in Dubai, said that one should also factor in the geographic allegiance that residents have for their respective cities. “Around 80 percent of the Pakistani community living outside of Pakistan is either from Punjab or KPK [provinces]. So it is but natural that they would want to have their home in their home city first. Hence, one can see more demand for [investment queries in] Lahore and Islamabad,” Shaikhani, who is also presenting his ‘Motor City’ project at the exhibition, said.

Spoilt for choice, most residents seemed to concur. Maqsood Ahmed, who was attending the exhibition with his two sons, said he was looking for a four-bedroom villa in Islamabad as he was originally from Peshawar and “Islamabad is the nearest city where I want to settle after returning from Dubai”, adding that while there are several good options, he cannot vouch for the credibility of the projects.

“It's [Islamabad] a beautiful city with a good quality of living. Living away from the country for several decades, I have no idea which project is credible enough to invest. I have never invested in Pakistan but I want to,” the 45-year-old petrochemical engineer said. Muneer Khan, a 50-year-old businessman from Karachi living in Dubai for more than 20 years, said he was facing a similar dilemma. “I want to invest in Karachi. It is my home city. And with the change of government, we are hearing lots of good news. But on the same hand, with the recent crisis regarding a leading developer in the country, I am confused whether to invest my hard-earned money or not. If brands like Bahria can cheat people or use illegal means then how can I trust other developers. Living outside Pakistan, I have no idea about my rights as a property owner,” Khan said.

Dismissing the concerns, Shaikhani said that those who have invested with the developer have nothing to worry about as “investing in Pakistan is as safe as investing in any other parts of the world” thanks to the laws of the land.

“It is true that one of the leading developers in the country is facing legal issues regarding land and the case is in the supreme court. But the court has reassured that nothing will happen to the owner, end user and those who are residing there. Pakistan is the one of the fastest growing economies with lots of opportunities. Let’s keep our faith in our country and the new government. The huge participation of the people in the exhibition should be reassuring,” Shaikhani whose own project in Karachi was also on display, said. Dialing up the patriotic quotient, he added: “Eventually all of us living in the Gulf has to return to our home country. Investing in

Pakistan is a win-in situation. We are not only securing our retirement life but also providing foreign exchange to the country. Investing in Pakistan is a national service right now.”