MANCHESTER: British-Pakistani entrepreneur and IMARAT Group Chairman Shafiq Akbar has announced that an online property verification service in Pakistan will be launched next month, describing it as a major step towards protecting overseas Pakistanis from property fraud and restoring confidence in the country’s real estate sector.
Speaking at an investment event in Manchester, Akbar said many overseas Pakistanis want to invest in Pakistan, whether to own a home, establish a base in the country or build long-term wealth. However, he said the biggest concern preventing many from investing is the fear of fraud and uncertainty over whether their investment will be secure.
He said overseas Pakistanis need confidence that the promises made to them will be fulfilled, whether that is receiving ownership of a home or achieving the expected returns on their investment. “It is our responsibility, as Pakistanis, together with the Government of Pakistan and the private sector, to ensure their investments are protected,” he said.
Akbar revealed that an online property verification service will be launched in Pakistan next month, allowing overseas buyers to verify the legal status and ownership of properties remotely before making a purchase.
He said the initiative is aimed at improving transparency in Pakistan’s real estate market and reducing the risk of fraudulent transactions, which have discouraged some overseas Pakistanis from investing.
Comparing Islamabad with London, he said the Pakistani capital has witnessed remarkable infrastructure development over the past five to ten years, including new roads, underpasses, motorways, airport expansion and major public infrastructure projects.
He said Pakistan’s growing population, expanding infrastructure and status as a developing economy continue to create strong long-term investment opportunities.
Akbar also urged the Government of Pakistan to prioritise the protection of overseas Pakistanis’ investments by strengthening legal safeguards and providing greater security for investors.
The online property verification service has yet to be launched, and further details regarding its implementation, regulatory oversight and the mechanism for verifying property records have not yet been disclosed.
