AAA Associates called Bahria Town attack harmful for Real Estate growth
Islamabad: June 08, 2021: AAA Associates, a leading Group of Companies, officially condemn the violent protest in Bahria Town, Karachi, in which the miscreants targeted public property. AAA Associates offered condolences to the residence and business community of Bahria Town Karachi over the loss of their property.
The protestors set several shops and vehicles ablaze, terrorizing the local residence and business community of Bahria Town. Due to COVID-19 Pandemic, when world economies suffer a backlash, Pakistan’s real estate sector has been showing promising growth and a progressive trajectory. The Pakistan real estate sector is worth anywhere between $300 to $400 billion according to the Pakistan Bureau of Statistics. These violent acts will harm Pakistan's booming real estate sector just as it has started showing positive signs of investments and become one of the leading sectors in the country's GDP growth.
AAA Associates has demanded that Government and Law enforcement Authorities take strict action against the perpetrators, compensate the damages after evaluation and provide total security to the residence and business community of Bahria Town in all cities. There is a need to devise a security plan to avoid such incidents in the future, as they adversely impact the investment opportunities in the Real estate industry and discourage investors from injecting capital into this sector.
AAA Associates Managing Director Lt. Col Shahzad Ali Kiani (Retd) shared his thoughts on the incident, “At this crucial time when real estate has picked up the pace, and we are witnessing tremendous growth in the real estate industry, such violent incidents will take us to the backfoot and hurt the confidence of Investors. Government and Law-enforcement agencies must ensure the safety and security of the residence and business community that play a pivotal role in developing the real estate sector as an important player in the national building process and bringing our GDP at par with Developed Nations of the world”.
AAA Associates Chairman Mr. Shiekh Fawad Bashir expressed sympathy to the residence and business community over their losses by saying, "We felt insecure after this incident which has exposed lawlessness at a provincial level. We demand the Local Government to compensate them and ensure this incident must be handled at the highest levels. AAA Associates has always stood side by side with our business community in a time of need. We take every step to protect their rights in all forms. We are committed to building the country’s economy by creating fair investment opportunities and boosting the real estate sector."
AAA Associates has proven to be an important player and a driving force in the Real Estate industry in Pakistan, offering state-of-the-art leisure facilities, unique architectural structure, customized investment plans, and solutions for diverse clients, ranging from small to large investors. They are a trendsetter in offering integrated single-source solutions for all real estate needs.
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