National Real Estate News

Lahore Fort’s historic Akbari Gate has been restored after remaining closed since British rule, paving the way for a new public entrance linking the fort with the Walled City.

Authorities plan to install a ticketing booth before opening the gate for visitors and local residents.
A soft launch ceremony was held to mark the restoration of the gate and the Curator’s House, another historic structure within the fort. The conservation work was carried out under the Heritage and Urban Regeneration: Tourism Development in Lahore Fort and its Buffer Zone (HURL) project. Launched in 2022, the project is supported by the Agence Française de Développement (AFD) and implemented by the Punjab Walled Cities and Heritage Areas Authority (PWCA) in partnership with Aga Khan Cultural Service Pakistan (AKCS-P).

PWCA Director General Najmus Saqib said the restored entrance would improve public access to heritage sites, attract tourists and create economic opportunities. Reopening the gate is expected to provide a more direct connection between Lahore Fort and the surrounding Walled City. The Curator’s House, a British-era building that was previously used as a guard room and later for administrative and residential purposes, is set to be converted into an eatery for visitors.

AKCS-P Chief Executive Officer Tausif Khawaja said the conservation work was intended to preserve Lahore’s cultural heritage while supporting local communities and economic activity.

The Punjab cabinet has unanimously deferred a proposal to cut the commercialisation fee from 20% to 10% of a property’s DC valuation, leaving applicants without immediate relief.
Sources said the fee for declaring a property commercial currently stands at 20% of its DC valuation. In anticipation of the proposed reduction, many property owners had waited for the rate to fall, and several had not paid challans issued for commercialisation cases.

The proposal was deferred amid concerns that the reduction could cause significant losses to the public exchequer. The Lahore Development Authority (LDA) could also face a substantial annual shortfall in commercialisation fee revenue.

The National Accountability Bureau (NAB) Islamabad/Rawalpindi has helped resolve a longstanding dispute over the mining lease for pozzolan in Gaini, Diamer district, Gilgit-Baltistan. NAB said the development secured national resources valued at Rs 123 billion. The Gilgit-Baltistan government has decided to grant a new lease to WAPDA and the Diamer Bhasha Development Company (DBDC). The initiative was taken on the directions of NAB Chairman Lt Gen (Retd) Nazir Ahmed.

Pozzolan is a volcanic material that can be blended with cement to produce roller-compacted concrete. According to WAPDA, extraction and transportation of the material from Gaini began on September 25. It will be processed for use in the main structure of the Diamer-Bhasha Dam, paving the way for roller-compacted concrete placement at the project site.

NAB’s statement did not specify how the dispute was resolved or how the value of Rs 123 billion was calculated. However, at a meeting on strategic water projects chaired by the prime minister in December 2025, the Gilgit-Baltistan administration was directed to hand over reservoir land in Gaini to WAPDA and cancel leases granted within the reservoir area. The meeting also said that, if required, leases for pozzolan deposits outside the reservoir limits could be considered under the applicable rules, while WAPDA was directed to pay royalties to the Gilgit-Baltistan government in accordance with the law.

The prime minister’s earlier directives also called for preventing any party from interfering in Gaini’s pozzolan-related matters to avoid disruption to material supplies for the Diamer-Bhasha and Dasu projects. According to NAB, resolving the dispute and deciding to grant a new lease has cleared the way for continued mining and supply of pozzolan for the major water project.

Pakistan Muslim League-Nawaz leader and former Punjab chief minister Hamza Shahbaz Sharif inaugurated the Shah Allah Ditta Buddha Caves Preservation Project in Islamabad on Wednesday, marking a step towards conserving the historic site and promoting Pakistan’s Buddhist heritage.

After the ceremony, Hamza visited the caves, where Secretary of the National Heritage and Culture Division Asad Rehman Gillani briefed him on the project’s completion, features and cost. A documentary on the caves’ history and archaeological significance was also screened, highlighting their association with Buddhist worship and the region’s cultural legacy.

Addressing the gathering, Hamza Shahbaz praised the Ministry of National Heritage and Culture for its efforts to preserve the site. He said Islam teaches respect for other religions, protection of minorities’ rights and safeguarding their places of worship. The project, he added, could improve Pakistan’s international image and make the caves a destination where visitors can learn about the country’s heritage.

Hamza Shahbaz urged the authorities to improve road access to the caves and asked the Federal Minister for National Heritage and Culture Aurangzeb Khan Khichi to pursue a better, more direct route with the relevant departments. Improved connectivity, he said, would make visits easier, support tourism and create jobs and economic opportunities for nearby communities.
He also welcomed the development of commercial activity in the area, saying families should have recreational spaces where they can enjoy the country’s history and natural scenery. Hamza Shahbaz invited diplomats and visitors, particularly from Buddhist countries, to visit the caves and expressed hope that the site would represent religious harmony and mutual respect.

Aurangzeb Khan Khichi thanked Hamza for inaugurating the project and reaffirmed the government’s commitment to protecting Buddhist heritage sites across Pakistan. He called on the Pakistan Tourism Development Corporation and media organisations to raise awareness of the caves’ historical and religious importance and promote them to local and international visitors.

The ceremony was attended by Federal Minister Rana Mubashar, MNA Anjam Aqeel Khan, former Islamabad deputy mayor Syed Zeeshan Shah, Special Assistants to the Prime Minister Aon Chaudhary and Talha Barki, senior officials, diplomats from Buddhist countries and other guests. At the conclusion, Shah presented Hamza with a souvenir.

The Prime Minister’s Apna Ghar Programme has disbursed more than Rs 104 billion in housing loans to 17,697 families, crossing a key milestone in the government’s effort to expand access to affordable housing finance.

Figures shared by Khurram Schehzad, Adviser to the Finance Minister, show that as of October 30, 2026, the programme had received 220,715 applications. Of these, 90,405 had been approved, giving an approval rate of about 41%. The approved loans are worth a total of Rs 533 billion.
Loan disbursements have grown from Rs 21 billion in June to Rs 104 billion by the end of October. The value of approved financing has also increased from Rs 144 billion to Rs 533 billion over the same period.

Launched by Prime Minister Shehbaz Sharif in April 2026, the nationwide scheme is designed to help low and middle-income families purchase or build homes. The five-year programme aims to finance 500,000 houses and is backed by a government allocation of Rs 3.2 trillion. Eligible applicants can access loans of up to Rs 10 million, repayable over 20 years. The scheme provides a fixed subsidised markup rate of 5% for the first 10 years; market rates apply thereafter.

Financing is offered through participating commercial and Islamic banks, microfinance institutions and the House Building Finance Company.

A joint investigation team (JIT) has identified former advisor finance Abdul Hafeez Shaikh, as the alleged mastermind behind the One Constitution Avenue scandal in Islamabad and named several former Capital Development Authority (CDA) officials for their alleged involvement.
According to the JIT report, Shaikh worked in coordination with former CDA chairman Kamran Lashari, Faisal Awan and Azhar Ali Chaudhry.

The report alleges that the project caused financial losses to the national exchequer while enabling certain individuals and their associates to receive undue benefits. The JIT has recommended that Shaikh be blacklisted from participating in government projects. It has also urged the National Accountability Bureau (NAB) to speed up its investigation and file a reference within three months. The team called for further investigation and action against those found responsible.

Federal Minister Ahsan Iqbal confirmed the JIT’s findings at a press conference, saying the government would not protect anyone involved in the scandal. He also said the government would arrange a transparent re-auction of the project.

The allegations and recommendations are set out in the JIT report; any further action will depend on the investigation and relevant legal proceedings.

Pakistan has earmarked 1,000 acres at Karachi Industrial Park for Turkish enterprises, Commerce Minister Jam Kamal Khan said on Wednesday, as the government seeks to attract investment and deepen industrial cooperation with Türkiye.

Speaking during a bilateral meeting with Türkiye’s Trade Minister, Prof. Ömer Bolat, on the sidelines of the 42nd session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul, Jam Kamal invited Turkish companies to use the land for industrial units and expand their manufacturing and investment footprint in Pakistan.
The two ministers discussed issues of mutual economic and commercial interest and reaffirmed their commitment to strengthening trade relations. The land allocation was presented as an opportunity for Turkish businesses to establish a presence in Pakistan and contribute to closer industrial ties between the countries.

Jam Kamal also appreciated Türkiye’s support for Pakistan’s claims concerning basmati rice and called for continued cooperation to protect and promote Pakistani agricultural products in international markets. He sought Türkiye’s support in improving market access for Pakistani mangoes. Bolat stressed the importance of marketing and branding Pakistani basmati rice in Türkiye to strengthen its market presence and consumer recognition. He also assured support for increasing imports of Pakistani mangoes. Bolat agreed to send a delegation of Turkish officials to Pakistan to review existing trade mechanisms and consider practical steps to improve bilateral trade. Both sides stressed the need for continued institutional engagement, closer business cooperation and coordination to turn investment and trade opportunities into concrete outcomes.

Separately, Jam Kamal met Zehra Zümrüt Selçuk, Director General of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC). Selçuk briefed him on the centre’s research, reports and statistical work related to trade among members of the Organisation of Islamic Cooperation (OIC). The minister said accurate and reliable data was essential for economic research and policy decisions. He added that stronger trade analysis could help OIC members identify opportunities, understand market trends, address barriers and develop strategies to increase trade and economic integration.

Punjab Chief Minister Maryam Nawaz Sharif has approved inviting fresh applications for the Apni Chhat, Apna Ghar housing programme, as a review meeting reported progress on loan disbursements, house construction and repayments. More than 1.7 million people have registered on the programme’s online portal, the meeting was told. The scheme has disbursed over 225,000 loans, while 128,718 houses have been completed. A further 62,600 homes are nearing completion.

The briefing also reported that 171,597 beneficiaries had received the second instalment of their loans. The programme’s loan recovery rate was recorded at 97.6%, with Rs 22.29 billion recovered in instalments. The chief minister directed officials to meet the scheme’s completion targets and ensure timely progress. The programme has also received recognition from international institutions, according to the briefing.

Separately, the application process for the Apni Chhat, Mehfooz Chhat initiative has been completed. Under that programme, 3,055 applicants received loans totalling Rs 1.216 billion, and construction or expansion work on 532 houses has been completed.

Pakistan’s cement exports declined 9.51% during the first four months of FY27, even as domestic sales increased, according to data released by the All Pakistan Cement Manufacturers Association (APCMA).
Total cement dispatches rose 2.93% to 17.953 million tons from 17.442 million tons in July–October of the previous fiscal year. Domestic dispatches increased 5.93% to 14.889 million tons, while exports fell to 3.064 million tons from 3.385 million tons.
In October, total dispatches edged up 0.37% year on year to 4.810 million tons.

Domestic dispatches grew 1.17% to 4.041 million tons, compared with 3.994 million tons in October 2025. Exports, however, declined 3.67% to 768,754 tons from 798,019 tons.
The regional figures showed different trends. North-based mills dispatched 3.397 million tons in October, down 3.13% from 3.507 million tons a year earlier. Their domestic dispatches were nearly unchanged, rising 0.13% to 3.397 million tons, while exports fell to zero from 114,082 tons.
South-based mills dispatched approximately 1.41 million tons in October, up 9.90% from 1.29 million tons in the same month last year. Domestic dispatches rose 7.05% to 643,816 tons, while exports increased 12.40% to 768,754 tons from 683,937 tons.

For July to October, north-based mills’ domestic dispatches grew 4.87% to 12.344 million tons. With no exports recorded during the period, their total dispatches fell 1.61% to 12.344 million tons from 12.546 million tons a year earlier. South-based mills recorded a stronger overall performance. Their domestic dispatches rose 11.36% to 2.545 million tons, and exports increased 17.38% to 3.064 million tons. Total dispatches from the southern mills grew 14.57% to 5.610 million tons, compared with 4.896 million tons in the corresponding period last fiscal year.