LAHORE DIVISION

Lahore: [ReNews Pakistan] Punjab Central Business District Development Authority (PCBDDA) Chief Executive Officer Imran Amin has inspected major ongoing development projects, including CBD Walk, CBD Lake and NSIT City, to review construction progress and ensure the timely completion of the schemes. During the visit, the CEO assessed the pace and quality of work at different project sites and received detailed briefings from project teams regarding the current status of construction activities. The inspection was aimed at monitoring adherence to approved timelines, identifying any possible delays and ensuring that development standards are being maintained. Imran Amin stressed that all projects must be completed within the stipulated timeframe without compromising on quality. He said CBD Punjab’s development initiatives are an important part of Lahore’s modern urban and commercial transformation and must be delivered according to professional standards. The CEO was accompanied by Executive Director Technical Riaz Hussain, Director Construction Asif Babar, Director Engineering Umar Hayat and Project Manager NSIT City Yasir Saifullah. Senior officials from CBD Punjab, National Engineering Services Pakistan (NESPAK) and project contractors were also present during the inspection. Officials said the visit was part of the authority’s regular monitoring process to accelerate work on strategic infrastructure projects and ensure effective coordination among all stakeholders. CBD Punjab is currently working on several key urban development schemes, including CBD Walk, CBD Lake and NSIT City. These projects are designed to strengthen Lahore’s commercial landscape, promote modern planning and support future business and investment activity in the city.

Lahore | ReNews Pakistan The Punjab government has made online payment of property tax mandatory under the provincial budget for fiscal year 2026 27, introducing a major digital reform aimed at improving transparency, efficiency and accountability in tax collection. Under the new policy, property owners across the province will no longer be allowed to pay property tax through manual or cash-based methods. Instead, all payments will be processed through digital platforms, including online banking and other approved electronic channels. Officials said the decision is part of the provincial government’s broader plan to modernize revenue management and reduce irregularities in public finances. The move is also expected to limit administrative delays, improve record-keeping and reduce opportunities for corruption in tax collection. According to the provincial administration, the reform follows the successful implementation of online payments for vehicle token tax, which is already being collected through digital banking channels in Punjab. The government has also introduced an incentive for taxpayers by offering a 5 percent discount on property tax to individuals who assess their properties through the self-assessment mechanism announced in the budget. Officials believe that the combination of mandatory online payments and self-assessment will encourage voluntary compliance, make the payment process easier for citizens and strengthen overall revenue collection. The latest measure is being seen as an important step toward digital governance in Punjab and is expected to significantly change how property tax is assessed, paid and monitored across the province.

Lahore | ReNews Pakistan The trend of overseas Pakistanis’ investment in Pakistan’s real estate sector appears to be rising again rather than declining. However, the increase remains cautious in nature. Overseas Pakistanis are showing interest in the property market, but full momentum has not yet returned due to concerns over fraud, unapproved housing schemes, possession disputes, taxes and timely completion of projects. No separate official monthly data is regularly released on overseas Pakistanis’ real estate investment in Pakistan, making it difficult to measure this investment directly in percentage terms. However, if remittances, Roshan Digital Account inflows, government tax relief and property related facilities for overseas Pakistanis are taken into account, investment potential and interest in the sector appear to have increased during fiscal year 2025-26. According to the figures, remittances from overseas Pakistanis stood at $4.251 billion in May 2026, showing an increase of 20.2 percent on a monthly basis and 15.4 percent on a yearly basis. During July to May FY2025-26, total remittances reached $38.1 billion, which is 9.2 percent higher compared to the same period last year. According to economic experts, the rise in remittances is a positive indicator for the real estate sector, as a major portion of overseas Pakistanis’ savings is generally invested in plots, houses and commercial property. Improvement has also been witnessed in overseas investment through the Roshan Digital Account. In April 2026, RDA inflows reached a record level of $321 million, while total inflows rose to $12.747 billion. Similarly, RDA inflows during the current fiscal year stood at $2.184 billion, higher than $1.925 billion recorded during the same period last year. Under the State Bank’s Roshan Apna Ghar programme, non-resident Pakistanis can digitally purchase, construct or renovate a house in Pakistan. Investments made through RDA can also be repatriated abroad, indicating that a formal route for overseas Pakistanis to invest in real estate is active. On the other hand, the government has also described measures to reduce property taxes and transaction costs in the FY2026-27 budget as important for overseas investment. According to reports, steps such as reductions in withholding tax, capital gains tax and property valuations are aimed at bringing buyers, sellers and especially overseas Pakistanis back towards the real estate market. However, challenges still remain. The Overseas Pakistanis Foundation has also acknowledged that overseas Pakistanis are interested in real estate due to the potential for higher returns, but many have suffered losses because of fraud and non-completion of projects by developers. This is why scrutiny of housing societies that have an NOC and the required land is being considered. According to real estate experts, any increase in overseas Pakistanis’ investment depends on trust, legal protection and approved projects. If the government ensures transparent digital records, online verification of NOCs, protection of possession rights and timely delivery of projects, investment by overseas Pakistanis in the country’s real estate sector may increase further in the coming months.