{"id":14339,"date":"2023-04-04T15:18:28","date_gmt":"2023-04-04T10:18:28","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=14339"},"modified":"2023-04-04T15:18:28","modified_gmt":"2023-04-04T10:18:28","slug":"high-rise-construction-projects-come-to-halt-amid-rising-material-costs","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/high-rise-construction-projects-come-to-halt-amid-rising-material-costs\/","title":{"rendered":"High-Rise Construction Projects Come to Halt Amid Rising Material Costs"},"content":{"rendered":"<p>LAHORE: Private sector multi-storey building projects in Lahore have either slowed down or come to a halt due to rising material costs caused by inflation, the dollar exchange rate, and political uncertainty.<\/p>\n<p>According to sources, the builders are considering passing on the financial burden to customers for projects that have become unfeasible.<\/p>\n<p>In 2018, the PTI government introduced policies to promote vertical growth in Lahore to protect green areas, improve environmental conditions, and promote commercial and residential activities in urban areas.<\/p>\n<p>The details suggest that the builders, developers, construction experts, and government departments all supported the culture of high-rise buildings.<\/p>\n<p>However, an official source in the Punjab government said that political uncertainty has slowed down or stopped most business activities.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/benefits-of-real-estate-investment-amid-economic-downturn\/\" target=\"_blank\" rel=\"dofollow\" class=\"uf3de7decc7eeea8a8ae70c18755fb53f\"><style> .uf3de7decc7eeea8a8ae70c18755fb53f { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .uf3de7decc7eeea8a8ae70c18755fb53f:active, .uf3de7decc7eeea8a8ae70c18755fb53f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .uf3de7decc7eeea8a8ae70c18755fb53f { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .uf3de7decc7eeea8a8ae70c18755fb53f .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .uf3de7decc7eeea8a8ae70c18755fb53f .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .uf3de7decc7eeea8a8ae70c18755fb53f:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">Benefits of Real Estate Investment Amid Economic Downturn<\/span><\/div><\/a><\/div>\n<p>In addition to political uncertainty, the judicial crisis, fast-increasing steel, and cement prices, and rising commercial rates in several areas have forced builders and developers to stop or slow down construction-related activities.<\/p>\n<p>The LDA&#8217;s town planning department has only collected around Rs. 5 billion since July 1 of last year, with a target of collecting Rs. 8 billion by June 30 of this year.<\/p>\n<p>Akbar Sheikh, a member of the Association of Builders and Developers, expressed concern over the situation and urged stakeholders to make sincere efforts to bring calm to the country&#8217;s political situation.<\/p>\n<p>Sheikh said they are urging the government, political parties, and other stakeholders to sit down with the business community to find solutions to protect their investments.<\/p>\n<p>He also requested that the LDA arrange meetings with builders and developers to work collaboratively toward finding viable solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LAHORE: Private sector multi-storey building projects in Lahore have either slowed down or come to a halt due to rising material costs caused by inflation, the dollar exchange rate, and political uncertainty. According to sources, the builders are considering passing on the financial burden to customers for projects that have become unfeasible. In 2018, the PTI government introduced policies to promote vertical growth in Lahore to protect green areas, improve\u2026<\/p>\n","protected":false},"author":3,"featured_media":14341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-14339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2023\/04\/ProProperty-Design-Template-1000x560-1-2.jpg",1000,560,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"High-Rise Construction Projects Come to Halt Amid Rising Material Costs","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=14339","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/14339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=14339"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/14339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/14341"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=14339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=14339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=14339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}