Pakistan's biggest digital media platform Egyptian Billionaire Interested In Investing In PM's Ambitious 'Naya Pakistan Housing Scheme' – Siasat.pk News Blog

Egyptian Billionaire Interested In Investing In PM’s Ambitious ‘Naya Pakistan Housing Scheme’

The $2 billion Eighteen project launched in 2017 will be ready by year 2021. (Photo illustration by Eighteen)

After Russia offers $2 billion investment in Pakistan’s water and electricity projects, Naguib Sawiris, Egyptian billionaire is also interested in expanding his business operations in Pakistan. He wants to invest in Prime Minister Imran Khan’s Naya Pakistan Housing Scheme, as Arab News reports.

Sawiris is already building a multi-billion dollar housing project in the federal capital and now wants to help PM Khan with his ambitious scheme for the poor.

The information was revealed to The Arab News by Tarek Hamdy. Tarek is CEO Elite States – a joint venture by Sawiris’ Ora Developers and Saif Holding.

“Naguib Sawiris has expressed his will to invest in 100,000 units of affordable housing to help Prime Minister (Imran Khan) in his vision toward Pakistan” – Hamdy said.


Also See: Russia offers to invest $2 billion in Pakistan’s energy projects


“This scheme is very ambitious yet very promising for the people of Pakistan. I think all the developers should help in this scheme. You cannot solely rely on the government to build five million houses” – Hamdy said.

But he said such massive scale project will take more than five years or maybe a decade to complete. He said that it needs to be in phases or steps.

“I think the plan is right, but it has to be in stages, has to be in steps. It could be achievable obviously it is not the project (to be achieved) in one or two years… may take a few good years, maybe a couple of decades to be achieved” – Hamdy said.

Via: Arab News

What are your views on this? Share with us in the comments bar below.

Comments are closed.

Share
Published by
Eminraja

Recent Posts

Canada: Two Pakistani women secure victory in general elections

Salma Zahid and Iqra Khalid both Pakistan based Canadian women win the elections. According to media reports, Salma moved from…

12 mins ago

VIDEO: ASF officer spits, throws chairs at passengers at Islamabad airport

On 17 October 2019, PIA flight from Riyadh to Peshawar due to bad weather could not land on the Peshawar…

3 hours ago

Political parties are no strangers to security wings, what makes JUI-F’s Ansar-ul-Islam different?

Asrar ul Islam is established to protect the top leadership of JUI-F. Ansar ul Islam has it’s ranking and grading…

4 hours ago

In a radical change, Saudi Arabia considers allowing women to perform Hajj without mahram

According to an Arab News report, the kingdom of Saudi Arabia is considering a radical change in its stringent and…

6 hours ago

BAHAWALPUR: Doctors, Teachers Accused Of Raping A Girl

  In Bahawalpur, a gang of private teachers and doctors has been revealed, the gang allegedly kidnapped, administered an ice…

7 hours ago

Malaysia’s Mahathir Mohamad stands by his Kashmir comments despite India’s palm oil ban

  Is the world going to witness another intense trade war? Malaysian Prime Minister Mahathir Mohamad indicates so. Malaysian palm oil,…

7 hours ago

Two Men Ordered To Pay 0.5 Million Each For Uploading Girl’s Pictures on Facebook

A local court in Karachi ordered two men to pay 0.5 million each to a girl in compensation after illegally…

8 hours ago

Private Medical Colleges More Autonomous Following Promulgation of New Ordinance

The federal government newly promulgated ordinance, which dissolved the Pakistan Medical and Dental Council (PMDC) and established Pakistan Medical Commission,…

23 hours ago

For Gas supply, School and a Road, Salahuddin’s father forgives Police on the request of Hafiz Saeed

Father of Faisalabad ATM robber, Mohammad Afzal has forgiven the police officer responsible for his son’s death. Mohammad Afzal said…

1 day ago

USEFP Announces UGRAD Scholarships In Pakistan – Here’s all you need to know

  The UGRAD 2020 Undergraduate Semester Exchange Program has been announced for Pakistan by the United States Educational Foundation in…

1 day ago