A Chinese online business-to-business (B2B) company has announced to invest $50 million in Pakistan to facilitate local retailers. Under the investment plan, a mobile app will also launch in order to ease the business community. This project aims to empower retail stores of building/construction material in a bid to enable them to expand their business with the use of the internet. With this mobile app facility, retailers will be able to check the supply of goods and also place orders from homes.
The construction sector in Pakistan is one of the main industries driving the economy of the country. The findings of the World Bank calculation suggest that the real estate market in Pakistan is worth nearly USD 300 to 400 billion. It makes up 60 to 70 percent of the country’s total wealth. Currently, the construction business is stained with massive disparity mainly due to inflation. Inflation has spiked up the prices of building materials by 30% and urged builders to sell their properties and services at higher rates.
To boost the construction sector, the Government has started construction projects including Naya Pakistan Housing Scheme and Ravi Riverfront Urban Development Project. The construction industry in Pakistan needs innovation and further initiatives to introduce digital startups that will provide an online platform for the construction industry to solve some of its problems.
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