State Bank of Pakistan and Zameen.com have joined hands by signing a memorandum of understanding.
According to the agreement, Zameen.com will provide data related to the rental costs of residential and commercial properties in metropolitan areas.
This data will help the SBP to analyze the real estate prices and will be used in different publications.
On SBP’s data site, Easydata, the four-year summaries of home prices and rental indexes will also be accessible.
Dr. Murtaza Syed, Deputy Governor (Policy), expressed his delight at the signing of this MoU.
He stated that the real estate market in Pakistan was understudied owing to a variety of causes, including a lack of reliable data.
Dr. Murtaza also added that in the absence of reliable information on real-estate pricing patterns, comprehending household asset allocation decisions becomes challenging.
He believed that the partnership would substantially assist in filling these gaps.
On the other hand, the CEO of Zameen.com, Zeeshan Ali Khan, expressed that he was glad to join hands with SBP to provide data that would help it in making informed decisions and draft effective policies.
He further stated that this collaboration with the central bank demonstrated the value of Zameen.com’s work in digitizing and modernizing the country’s real estate business.
