ISLAMABAD: The real estate industry witnesses a positive trend, as 3,383 new companies belonging to the industry were registered by the Securities and Exchange Commission of Pakistan (SECP), showing an increase of 32% as compared to 2019.
The commission recorded registering 2,365 new construction and real estate companies in 2020, 2,560 companies in 2019 and 2,022 companies in 2018, respectively. A total of 20,342 companies were registered in 2020 by the SECP.
It was further announced that almost 40% (946) of the companies were registered in 24 hours, with the majority being registered online.
Experts have opined that the reason behind the increase in the numbers of companies in the relief package given by the government to the construction sector. The government had announced relief packages for various sectors keeping in view the distressing impact of Covid-19 on Pakistan’s economy.
Following the positive response, the government extended the deadline for the Tax amnesty construction package till December 31, 2021.
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