Turkish construction companies apprised of investment opportunities in Pakistan’s construction and real estate sector

ANKARA, 21 March 2017: A delegation of Punjab Government led by Director General Lahore Development Authority (LDA), Mr. Zahid Zaman, briefed Turkish private sector representatives about the vast investment and joint venture opportunities in real estate sector of Punjab. Turkish Contractors Association (TCA) hosted the event at its headquarters in Ankara.

Speaking on the occasion, Pakistan’s Ambassador to Turkey Sohail Mahmood underlined the unique bonds of brotherhood binding Pakistan and Turkey in a special relationship. He highlighted the commitment of the political leadership in both countries to transform these cordial ties into a robust economic partnership. He added that a comprehensive Pakistan-Turkey Free Trade Agreement (FTA) was in the final stages of negotiations that would cover trade in goods, services and investment and would greatly enhance bilateral economic relations. He underlined that Pakistan’s macro-economic indicators were on a strong footing and an upward trajectory thus attracting huge investments. Highlighting the China-Pakistan Economic Corridor (CPEC) and referring to recent acquisition of Dawlance by Turkey’s Arçelik and Zorlu Energy’s upcoming project of 300 MW solar energy, Ambassador Sohail Mahmood said this was an opportune time for deeper engagement with Pakistan by the Turkish companies.

Director General LDA Mr. Zahid Zaman made a detailed presentation on investment opportunities in Punjab, particularly Lahore. He noted that the province needed at least 2.5 million housing units and thus immense opportunities existed for Turkish investors and contractors. He specifically highlighted the Twin Tower Project, envisaging a state-of-the-art multipurpose building in Gulberg, Lahore on joint venture basis.  He informed that pre-qualification for the project was due to commence shortly and request for proposals and subsequent bidding will take place in the near future.

 

Earlier, Mr. Haluk BÜYÜKBAŞ, Secretary General of Turkish Contractors Association in his opening remarks welcomed the delegation and assured every possible support in apprising the TCA member companies of the business opportunities in the construction sector in Pakistan.

Senior representatives of noted construction companies including Limak, Nurol, Epik, Tepe, Yüksel, Artes, Özdemir, Epik, Haşemoğlu, Fuat Çelik, and Ayık attended the event. Documents relating to the technical and financial aspects of the Twin Tower Project were shared with the participants.