News DeskRiyadh, KSA – In a compelling presentation at the Public Private Partnership Forum held at Cityscape Global, Shafiq Akbar, the CEO of IMARAT Group, a prominent real estate conglomerate headquartered in Islamabad, outlined his visionary plan for Pakistan’s economic revitalization, emphasizing the pivotal role of the real estate sector. With remittances from overseas Pakistanis contributing USD 12 billion annually, representing 70% of their investments in property, the real estate sector is undeniably central to Pakistan’s economy.
IMARAT Group recently expanded its presence into the Gulf Cooperation Council (GCC) with an office in the United Arab Emirates (UAE). Shafiq Akbar seized the opportunity at Cityscape Riyadh to present a comprehensive strategy for Pakistan’s economic growth and stability, aptly named ‘Vision 2047.’ This ambitious blueprint not only identifies critical economic challenges but also proposes a roadmap that encompasses robust digital infrastructure and a sound policy framework to unlock Pakistan’s latent potential.
Shafiq Akbar’s ‘Vision 2047’ is underpinned by his successful ventures over the past seven years, which have leveraged cutting-edge technologies such as artificial intelligence, blockchain, and satellite technologies. These innovations have propelled the growth of IMARAT Group, supported by an ecosystem that includes Pakistan’s largest estate industry network, Agency21, Graana.com, and PropSure Digital Solutions, among others.
One of the standout achievements of ‘Vision 2047’ is the digitization of records for all 4.5 million land parcels in Pakistan. This digital repository, coupled with in-depth research on the nation’s 41 economic drivers, provides a tailored strategy to harness Pakistan’s untapped potential.
During his address at Cityscape, Shafiq Akbar highlighted Pakistan’s youthful demographic advantage, with a staggering 70 million people aged between 15 and 29, surpassing the entire population of the UK. He emphasized that this youthful population is on the cusp of entering family life, creating a significant demand for new homes. In financial terms, this represents a potential annual housing investment of USD 40 billion, culminating in an astonishing 3 to 4 trillion USD over the next two decades.
In his closing remarks, Shafiq Akbar praised Saudi Arabia for its real estate model, which has laid the foundation for the transformation of its economy. He expressed his aspiration to replicate this successful model in Pakistan, charting a course for sustainable economic growth and prosperity.
Shafiq Akbar’s ‘Vision 2047’ offers a compelling strategy that not only leverages Pakistan’s demographic dividend but also harnesses the power of technology to propel the nation towards a brighter economic future. As IMARAT Group expands its footprint in the GCC, it aims to play a pivotal role in realizing this visionary plan for Pakistan’s economic revival.
