The number of real estate and construction companies reported a 32% increase in 2020
The real estate industry is experiencing a positive trend, as the Securities and Exchange Commission of Pakistan (SECP) reported 3,383 new companies belonging to the industry, showing a rise of 32 percent compared to 2019. The Commission has reported 2,365 new construction and real estate companies registered in 2020, 2,560 in 2019 and 2,022 in 2018, respectively. In 2020, SECP reported a total of 20,342 businesses. It was further announced that in 24 hours, nearly 40 percent (946) of the companies were registered, with the majority registered online. Experts were of the opinion that the reason behind the increase in the number of companies was the relief package provided to the construction sector by the government. In view of the distressing effect of Covid-19 on Pakistan’s economy, the government has announced relief packages for different sectors. Following a positive response, the government extended the Tax Amnesty Building Package deadline until 31 December 2021.