LAHORE: Pakistani and Saudi investors have expressed interest in expanding bilateral real estate investment, with business leaders calling for greater opportunities in housing and commercial property development during the Saudi-Pak Real Estate Expo held at Lake City Golf and Country Club in Lahore.
The event brought together investors, developers and senior officials from both countries to explore property investment opportunities in Pakistan and Saudi Arabia, including potential projects in Makkah and Madinah.
Punjab Governor Sardar Saleem Haider Khan, Saudi-Pak Business Council Chairman Prince Mansour bin Mohammed Al Saud, former caretaker federal minister Dr Gohar Ejaz and prominent businessman Arif Habib attended the inaugural ceremony.
Addressing the gathering, Dr Gohar Ejaz said the exhibition aimed to strengthen commercial relations between Pakistan and Saudi Arabia by connecting investors with opportunities in the property and construction sectors.
He invited Saudi businesses to explore Pakistan’s housing market, citing the country’s population of approximately 250 million and growing demand for residential development.
Ejaz said the Saudi-Pak Business Council had earmarked a fund of five billion for investment initiatives involving both countries, although the currency and detailed financing arrangements were not specified in the reported remarks.
He said the exhibition would also provide Pakistani construction professionals with opportunities to exchange expertise and develop commercial partnerships with Saudi companies.
Prominent businessman Arif Habib urged Saudi authorities to facilitate property investment by Pakistani nationals, particularly in the holy cities of Makkah and Madinah.
He said owning property in Makkah or Madinah was an aspiration for many Pakistanis and suggested that Saudi Arabia could benefit economically by creating suitable investment opportunities.
Habib also referred to the large number of Pakistanis travelling to Saudi Arabia for Umrah each year, describing them as a potential market for property investment.
He claimed that Pakistani investors had recently reduced investment activity in Dubai, creating an opportunity for Saudi Arabia to attract additional capital.
Habib emphasised that investment should flow in both directions, with Saudi businesses exploring opportunities in Pakistan’s property market while Pakistani investors considered projects in the Kingdom.
He said Pakistan’s human resources and Saudi Arabia’s financial capacity could complement each other in developing commercially viable projects.
The businessman also urged the Saudi government to encourage its citizens and companies to invest in Pakistan, citing opportunities in housing, construction and related industries.
Speaking at the ceremony, Prince Mansour bin Mohammed Al Saud said the Saudi-Pak Business Council intended to facilitate investment opportunities for Pakistani businesses in Makkah and Madinah.
He said the council’s objectives extended beyond business transactions to strengthening long-term economic relations between the two countries.
The Saudi business leader highlighted opportunities for investment in Pakistani companies and real estate projects, saying both sides should move beyond discussions towards practical commercial cooperation.
He said the exhibition would help Pakistani companies identify investment prospects in Saudi Arabia while encouraging Saudi investors to examine opportunities in Pakistan.
Punjab Governor Sardar Saleem Haider Khan welcomed the initiative, saying the real estate sector offered considerable potential for investment and economic activity.
He praised Dr Gohar Ejaz’s efforts to attract investment and expressed optimism that the exhibition would open new avenues for business cooperation.
The governor also referred to presentations by the Central Business District Punjab (CBD) and Ravi Urban Development Authority (RUDA), highlighting their proposed urban development initiatives.
He reaffirmed the importance of Pakistan’s longstanding relationship with Saudi Arabia and welcomed efforts to expand economic engagement alongside bilateral cooperation.
The exhibition provided a platform for developers and investors from both countries to discuss property development, housing demand and potential joint ventures.
The discussions reflected growing business interest in expanding Pakistan-Saudi economic relations through real estate investment, although specific investment agreements or completed transactions were not detailed in the reported proceedings.