by: TN Media News Pakistan:
House of Elaan Participated in the Dream Home Expo 2023 as the “Strategic Advisory Partner” which is took place at the Pak-China Centre, Islamabad, on 15th, 16th and 17th of July 2023.
Day three of the expo was dedicated to the Real Estate Conference in the light of legal framework, which was done along on-location trainings done by House of Elaan Experts. It wouldn’t be wrong to say that the conference was the highlight of the expo, organized by the House of Elaan and its aim was to gather representatives from the legal and the government sector to discuss matters of importance, along with the the launch of Elaan Research Centre.
The agenda of the very first conference under Elaan Research Centre was to suggest the legal framework in Real Estate sector. About 30 representatives from the legal and government sector participated in the conference, with honourable Chief Guest Sardar Latif Khosa (Senior Advocate Supreme Court of Pakistan, Former Governor) and Guest of honour Anjum Aqeel Khan (Leader PMLN).
All the respected guests were given a brief over view of the on-location training being provided by the House of Elaan by Mr. Khalid Taimur Akram (Advisor of House of Elaan) and moderation of the conference was done by Mr. Zaildar Ahsan Shah (MD Elaan Consultancy, Advocate High Court).
Mr. Syed Amjad Ali (Director Marketing Jang Media Group) gave the opening statement by saying “a strong framework needs to be built in Pakistan for all segments of the society, to save them from the housing societies scam and deceptive marketing”.
Mr. Shahid Naveed Malik (President High Court Bar Association) said that “overseas Pakistanis become the target of deceptive marketing and when come back to Pakistan get disappointed; hence Pakistan is facing losses in investment from abroad. He emphasised the need to make a regulatory body which is responsible for all the paperwork and also gives guidelines to regulators on how to go about in the system”.
To this Mr. Muhammad Shoaib Razzaq (Advocate Supreme Court of Pakistan) added that “the problem lies with the regulators, as they are part of the corruption process. Implementation needs to come from the state as legislation already exists”.
Mr. Obaid Ayub (Director of House of Elaan) gave an insight about increased taxes implemented by the government and how it is affecting the Real Estate industry. Mr. Raja Muhammad Aleem Khan Abbasi (Vice Chairman Islamabad Bar Council) said that “Real Estate industry is missing the ethical component.
Policies need to be made to stop agriculture land from being converted into commercial land”. Mr. Saeed Ahmed Malik (Deputy Secretary, State Ministry of Housing) added that “the housing authorities only act when the scam has taken place. Why is there no implementation of law beforehand?’’ Mr. Adil Aziz (Chairman Inter Provincial Bar Council Relationing Committee Islamabad Bar Council) gave suggestions that can make the system better.
He said that “regulators need to have proper documentation; secondly under housing act of 2020, deceptive marketing is a crime and implementation of this law need to be there”. Mr. Haroon ur Rashid (Vice Chairman Pakistan Bar Council) added that “housing schemes take full prices and give less land, this scam needs to stop”. Mr. Hassan Raza Pasha (Chairman Executive Committee Pakistan Bar Concil) agreed with Vice Chairman and he further added “that a lawyer’s advice in property matters will make alot of things simpler.
He gave an example of the solicitor in developed economies that they are charged with the crime if something bad happens. He said same can be done in Pakistan, as lawyers cant people in many different ways. Mr. Jahangir Jadoon (Advocate General Islamabad) said that “it is very easy to discuss the problem but to give solutions. The public needs to take responsibility themselves as well, they need to be more vigilant and a lawyer involvement the property matters is a must”.
Guest of Honour Mr. Anjum Aqeel Khan (Leader PMLN) appreciated House of Elaan for this initiative. He said that “some people do not even consider Real Estate as an industry. But that does not change the fact that it is one of the booming industries of Pakistan. He further added that laws and legislations are there but the system to implement them is missing.
He said that a proper regulatory authority or a council needs to be made which only looks after the hindrance faced by people in Real Estate industry”. To sum up the conference, Honourable Chief Guest Mr. Sardar Latif Khosa (Khosa (Senior Advocate Supreme Court of Pakistan, Former Governor) was asked to give his final remarks on the agenda and the conference.
He thanked everyone who participated and appreciated House of Elaan for such a good initiative. He further added that “it is not just governments responsibility to look after the issues in real estate, everyone involved should take responsibility of their act and try to correct themselves as Pakistan is everyone’s homeland”.
At the end of the conference, Mr. Ovais Ali Khokhar (CEO of House of Elan) thanked the Honourable Chief Guest and Guest of Honour for taking out time from their busy schedules. He said that this conference was a success as multiple representatives from legal and government sector participated and shared their valuable thoughts.
Later, each and every participant was awarded with the shield to mark their presence in the conference and to value their contribution to the House of Elaan research think tank.
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