Founder and President of Real Estate Business and Investment Club Zahid Iqbal asked government to establish regulatory authority for this important sector.
Addressing to the first Real Estate Seminar on “Emerging Opportunities and Challenges in Real Estate” at Royal Rodale Club recently he further said that there is not any kind of effort for the image building of real estate sector, neither regulatory authority nor any type of training.
Whoever wants just opens an office and start working. He said that if Govt form a regulatory authority so there would training institute and people joining this field will be qualified. He exemplifies the UAE saying that how that country has transformed it is in front of all. China encourages foreign direct investment (FDI) and its result we all can see. He lamented that last real estate policy was formed in 2001 but there was no implementation on it.
There were rumors that in 2013 new policy was designed but has not been issued. About rental laws he said that they are in favor of tenant that’s why owner of houses are afraid and they don’t want to invest in this.
General Secretary of REBIC Muhammad Shafi Jakvani at this occasion said that we have 40 members and our prime purpose is to create awareness among masses. We want Govt take interest in this field as well and make a regulatory authority.
He questioned that when a person cannot drive without license so how can he start real estate business without training and license. These types of people are defaming our field. Every one about the black money involved in this field. Other speakers were Syed Muhammad Naeem, Mahmood Nanji, Azam Miraj, Porf Wali Durrani, who also highlighted different aspects of real estate sector.