In a significant policy update, the Federal Board of Revenue FBR has introduced additional conditions for overseas Pakistanis involved in buying or selling immovable property. To qualify for tax rates applicable to “filers,” non-resident Pakistanis will now need to secure approval from the Commissioner Inland Revenue, verifying their non-resident status. This new measure aims to…
In a move set to bolster Islamabad’s real estate market, the Capital Development Authority CDA Islamabad has announced plans to auction two luxury hotel plots in the heart of Pakistan’s capital. The auction event, scheduled for December 17, 2024, presents a unique investment opportunity for both local and international investors, with a particular focus on…
Capital Smart City, one of Pakistan’s most innovative and forward-thinking real estate projects, recently had the honor of hosting the Ambassador Park Ki Jun of the Republic of Korea. This visit marked a significant moment for the development, showcasing the international appeal of the project. The visit highlighted not only the project’s modern infrastructure and…
After the tremendous success of Park View City Islamabad, which has emerged as one of the most prominent tourist attractions in Pakistan’s capital, the developers have now set their sights on expanding into Lahore. The new project, Park View City Downtown Lahore, is a testament to their vision of blending modern urban living with the…
In a significant development, leading Pakistani banks, including Bank Alfalah, Meezan, MCB, HBL, and Standard Chartered, have implemented fees on large deposits to manage their cash flow and evade hefty government taxes. Starting November 21, these banks now levy a monthly 5% fee on deposit balances exceeding their designated thresholds, which range between Rs1 billion…
A recent investigative report titled ‘Dubai Unlocked’ has shed light on the massive investments made by Pakistanis nationals in Dubai’s real estate sector. According to the findings, individuals from Pakistan, including former government officials, political figures, bureaucrats, and other prominent personalities, own properties worth an estimated $11 billion in the emirate. Revealing the Data Behind…
Dubai has once again emerged as a global leader in the property market, recording the strongest rental growth worldwide in the first half of 2024, according to the latest report by Savills. The emirate’s dynamic real estate sector, known for defying expectations, continues to outshine other major cities in rental demand and growth. Unmatched Rental…
Sales of luxury properties in Dubai, particularly those priced at $10 million or more, have seen a notable increase, with a 6% rise in the first quarter compared to the same period last year. According to a recent report from property consultancy Knight Frank, the demand for high-end homes in the emirate from the ultra-wealthy…
The United Arab Emirates (UAE) has recently rolled out a set of tax relief and administrative measures aimed at easing the regulatory burden on local businesses, foreign partnerships, and family foundations operating within the country. These new provisions, announced by the Ministry of Finance, are designed to simplify compliance procedures and enhance the UAE’s appeal…
Dubai’s real estate market has made headlines once again by achieving a monumental feat—a staggering PKR 92.2 billion worth of transactions in a single day. This remarkable milestone showcases the resilience, attractiveness, and robustness of Dubai’s property sector, setting a new standard for the global real estate industry. At Makani Marketing, we delve into the…
