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Pakistan’s real estate industry plays a vital role in the country’s economy. It offers investment opportunities, creates jobs, and supports infrastructure growth. At PropTech Convention ’24, Mr. Zahid Iqbal, Convener of the FPCCI Real Estate Planning & Research Committee, shared valuable insights. He discussed the journeys of Pakistan’s top real estate CEOs, industry challenges, and the role of technology in real estate transactions. His speech emphasized recognition, transparency, and innovation in the sector while highlighting how top industry leaders built their businesses from the ground up.

The Growth of Pakistan’s Real Estate Industry

With over 40 years of experience, Mr. Zahid Iqbal has significantly contributed to Pakistan’s property market, particularly in DHA, Bahria Town, and DHA City. He stressed that while real estate creates wealth, its public image needs improvement. Many people still view it as an unregulated and uncertain sector.

To change this, he introduced credibility and professionalism into the market. His first major initiative was Clifton Times, Pakistan’s first real estate magazine, launched 27 years ago. This platform revolutionized real estate marketing and project promotion, setting a standard for modern advertising.

Building a Strong Real Estate Community

Recognizing the need for industry-wide collaboration, Mr. Zahid Iqbal launched the Pakistan Real Estate Study Circle (PRESC) in 2000. Today, this network connects over 10,000 real estate agents. The platform helps educate professionals, address challenges, and improve industry standards.

One of the biggest issues in the industry is poor agent connectivity. Traditionally, real estate agents rely on calls and word-of-mouth to find properties. This process wastes time and lacks efficiency.

The Need for MLS Technology in Pakistan

To solve this, Mr. Zahid Iqbal highlighted the importance of Multiple Listing Service (MLS) technology. MLS allows real estate agents to list properties in a centralized database, making transactions faster and more transparent.

Unlike property portals such as Zameen.com or Graana, which focus on buyers and sellers, MLS is a business-to-business (B2B) platform that connects real estate agents. By implementing MLS in Pakistan, the industry can eliminate misinformation, inefficiency, and lack of transparency.

To achieve this, FPCCI and PropTech Convention signed an MOU to integrate technology into Pakistan’s real estate sector. Their goal is to launch an MLS platform that will streamline property transactions and add credibility to the market.

Recognizing Pakistan’s Top 100 Real Estate CEOs

Despite their massive contributions to the industry, real estate leaders in Pakistan receive little recognition. Mr. Zahid Iqbal pointed out that many top CEOs started with nothing but built multimillion-dollar businesses. However, unlike other industries, real estate professionals rarely receive formal appreciation.

To change this, the “Top 100 Real Estate CEOs of Pakistan” initiative has been launched. This project will highlight the journeys, struggles, and achievements of Pakistan’s top real estate entrepreneurs.

The initiative includes:

• A digital flipbook featuring Pakistan’s top real estate CEOs
• A book publication detailing their contributions to the industry
• An awards program to recognize leadership and excellence

This effort will inspire young entrepreneurs and real estate professionals while offering valuable lessons from industry veterans.

FPCCI’s Role in Policy & Advocacy

As the head of the FPCCI Real Estate Planning & Research Committee, Mr. Zahid Iqbal plays a key role in shaping real estate policies. FPCCI, Pakistan’s largest business organization, acts as a bridge between the government and the real estate sector.

Through FPCCI, real estate professionals can voice concerns, propose reforms, and contribute to industry development. The committee works closely with policymakers to ensure that government decisions align with market needs.

He invited real estate professionals to join FPCCI, encouraging them to be part of committees that drive industry improvements.

The Future of Pakistan’s Real Estate Industry

As real estate continues to evolve, embracing technology, fostering collaboration, and recognizing leaders will be essential for success. Mr. Zahid Iqbal emphasized that Pakistan has vast real estate potential, but structured policies, advanced technology, and strong leadership are crucial to unlocking it.

The collaboration between FPCCI, PropTech Convention, and MLS adoption will redefine real estate transactions, making them more efficient, transparent, and investor-friendly.

With initiatives like the Top 100 Real Estate CEOs project, industry leaders will finally receive the recognition they deserve. Additionally, FPCCI’s involvement in policy advocacy will drive sustainable and structured growth.

Conclusion: A New Era for Pakistan’s Real Estate Sector

Mr. Zahid Iqbal’s speech at the PropTech Convention ’24 set the stage for a transformational shift in Pakistan’s real estate sector. By leveraging technology, building industry-wide collaborations, and acknowledging top CEOs, the real estate market is poised for unprecedented growth.

With the adoption of MLS, structured industry recognition, and FPCCI-backed reforms, Pakistan’s real estate sector will become more credible, efficient, and attractive for investors and professionals alike.