KARACHI:
National and international companies displayed their hi-tech construction machinery, modern and stylish products under one platform at Pakistan’s premier construction industry event “Property Asia” held on the third and concluding day of the 18th Build Asia International Exhibition and Conference at the Expo Centre Karachi.
Visitors were astonished to see such state-of-the-art machinery. It led to significant business activity and a number of deals worth over $100 million were signed by foreign and local companies with buyers. Agreements were reached in sectors such as heavy machinery, innovative building solutions, climate-friendly development, etc.
According to organisers, several exhibitors from 10 different countries participated in the event, representing China, Russia, Iran and others. It attracted around 28,000 visitors from the real estate sector and the connected 42 ancillary industries. These industries included aluminium, bricks, cement, glass, marble, paint, steel, tiles, cables, PVC pipe, furniture, heavy machinery, transportation, hardware, sanitary goods, electric home appliances, metals and others.
Builders, developers and stakeholders from various associated industries urged the government to plug loopholes and address inefficiencies in the public sector that hindered the growth of real estate and construction sectors.
Ehtisham Ahmed of Waheed Shahzad Plastic Industry stated, “We are the only exporters in the local PVC industry, having exported products to the UK, USA, Saudi Arabia and other countries for the past 15 years. Our industry had been established 50 years ago in Lahore.”
He said he was getting a positive response from visitors, who were eager to examine and buy locally manufactured and quality PVC pipes.
Russian company Experimental Plant’s representative Azhar Durrani said his company introduced a diamond wire, stone and mountain cutting machine at the event, where visitors were keen to get more information, enthralled by its state-of-the-art features.
Chinese firm Xingpai Plastic Sales Manager Misa Lee highlighted that her company was manufacturing finished sheets for furniture for the past 18 years, while it was exporting products worth around $40,000 a month to Pakistan.
The event also hosted PropTech Convention, where stakeholders of property and construction sectors organised a host of seminars and panel discussions on core and emerging issues.
Ecommerce Gateway Pakistan Vice President Farhan Anis said Build Asia 2024 would play a vital role in revival and development of the construction sector in Pakistan with active participation and involvement of key stakeholders and policymakers.
The housing deficit of over 10 million units could be addressed through out-of-the-box strategies and the involvement of financial institutions, he suggested.
Besides, there are numerous emerging concepts of interior designing and innovative electrical solutions that have been introduced by foreign countries in Pakistan, transferring new trends to commercial and residential sectors.
The construction sector plays a pivotal role in economic development, including infrastructure development and urban growth. It contributes over 2.5% to Pakistan’s gross domestic product (GDP), employing over 7% of the workforce.
