UAE-based Diyár Homes to invest $30 million in real estate in downtown Lahore

This is on par with PM Imran Khan's vision to attract investment in the country's real estate sector.

Lahore, the City of Gardens. (Yasir Nisar)

Diyár Homes Limited, a real estate company based in the United Arab Emirates (UAE), is all set to invest $30 million in Lahore, the City of Gardens.

This was revealed by the co-founder of Diyár Homes Limited, Zeeshan Shah, from London on Monday.

According to the details, Diyár Homes Limited will invest in a waterfront development project in the downtown area of the City of Gardens.

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The UAE-based company plans to bring “the world’s leading consultants from the engineering, design and architecture world to Pakistan.”

This would set a new standard for the South Asian country’s super-luxury real estate sector. 

The UAE-based company’s substantial investment is on par with Prime Minister Imran Khan’s vision to attract investment in the country’s real estate sector as it has a multiplier effect on the economy.

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Meanwhile, the company’s co-founder added that there is no city in Pakistan like Lahore in terms of modern infrastructure, lifestyle, and entertainment.

He, however, added that the real estate sector of the City of Gardens is highly undervalued.

The officials also remarked that the company chose Lahore over Karachi as the real estate sector of the former is much more cost-effective than the latter.

In Karachi, the City of Lights, super-prime high-rise residential real estate ranges from ₨. 40,000–₨. 55,000 per square foot.

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Meanwhile, in Lahore, the same developments range from ₨. 28,000–₨. 32,000 per square foot.

The company’s co-founder explained that the City of Gardens has always been the heart of Pakistan’s cultural and lifestyle scene and the government’s continued investment in the city has bolstered its position as the country’s business hub.

“Lahore, without a doubt, presents the most lucrative investment opportunity in Pakistan today,” Shah remarked.

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