You all must’ve heard that a man is known by the company he keeps. But who is the man whose company is Pakistan’s first homegrown unicorn aka Pakistan’s first has-it-all real estate ecosystem, IMARAT Group of Companies?
Yup, that one didn’t need a ChatGPT to decode. Chairman & Founder IMARAT Group, Shafiq Akbar, made an appearance on a podcast with TCM Originals and we have our new “rest-as-they-say-is-history” moment.
Since the podcast has been brandished as an Eid Special, what could be a better way of spending our scrumptious fest than streaming this binge-worthy podcast & adding intellect to our vermicelli delight?
In the podcast, Akbar speaks of his early days, his first job, the fond memories of his childhood, and his early days in the United Kingdom.
“Since the very beginning, I have had the experience of taking on adversaries & challenges. I had to move out of Pakistan, prove my mettle in a foreign land, but Alhumdulillah, when I look back at things in retrospect today, I am able to connect the dots.”
From the corridors of the Pakistan Military Academy in Kakul to the walkways of Cambridge University in England, Akbar details how his longing for taking Pakistan to the heights of eternal glory never faded.
When asked about the spread of his brand, the IMARAT Group, to Pakistan, he said, “It was a consistent calling that connected with a moment of truth.”
“IMARAT actually expanded into Pakistan. IMARAT and our other brands are solutions to the problems of Pakistan – we didn’t reinvent the wheel – we did what UK, Dubai was already doing – and gave Pakistan these time-tested solutions.”
“IMARAT’s philosophy surrounds lifestyle. We are only about quality real estate developments and most importantly, how to bring life to that development of ours. We don’t think of selling – instead, we think of what would be its utilization. Real estate is all about lifestyle and how we can help people.”
“So our difference is majorly at two levels. RE developments – as we are more lifestyle centric & we develop it for people and their utilization. And, we are trying our best to create a workforce which is practicing as per the international standards.”
As per Akbar’s expert opinion, Pakistan is a country with the highest per capita need for housing in the world. “In the next 15 years, we need 20 million housing units. If we are able to fill up this demand in the next two decades or so, we can accumulate a value of $3-4 trillion.”
He said Pakistan’s economy needs a blue ocean strategic shift to come out of crises and for that the sector that can play an integral part is real estate. He said countries like Saudi Arabia are using real estate to showcase their soft power and stage themselves in a different way on the global circuit.
“Look at what the Saudis are doing. See the models of NEOM & Mukaab to know how they are undergoing a whole new paradigm shift. While they’re developing that futuristic artificial ideal environment, our real estate sector is marred with issues like the lack of planning, lack of regulations, lack of access to information, and, as a result, malpractices.”
“We need to put our land, labor, capital, and entrepreneurship to better use. The amount of potential that Pakistan has, our country can become the fastest-growing one in the global space. Effective planning and proper usage of vision can bring us at par. Our housing demand can get fulfilled by just 2% of our country’s area.”
Speaking regarding the emerging global situation, he said, “Whatever is happening is beneficial for Pakistan. Instead of geopolitical rent-seeking, we should emphasize the benefit of our own country. We should think about what benefits us and prioritize cordial ties without having an obvious tilt towards anyone.”
Regarding his widely-talked-about Vision 2047, Akbar said it’s the purpose of his life. “Briefly put, it is how to develop the human resource and the area of Pakistan. The year 2047 will be when our country will complete 100 years of existence.”
“It’s the plan to make Pakistan the fastest-growing country in the world – where each and every resource that we have available is put to its most efficient use.”
“Without the slightest doubt, real estate is the only sector that can actually change the destiny of our country, for which we have developed the Vision 2047 and National Development Plan including conceptual masterplan for all 142 districts of Pakistan.”
So have you watched the podcast? If yes, what are your thoughts on it? And if no, when are you jumping on the bandwagon to binge it through the end?
Let us know your thoughts in the comment section.
Overseas Pakistani please don’t get involved in real estate in Pakistan. I am trying to sell my dad’s real estate and it’s a nightmare. It’s a mega corruption in every department. They keep blaming white men left them with these rules. It’s been over fifty years that they could have changed it.
I am about to invest 10Million PKR in Bahria Town Lahore. Do you recommend?