Real estate as an industry has been slow to adopt modern technology. Fortunately, today, several real estate investment companies have started to use technology like blockchain to transform conventional real estate investment practices. Real Estate Startups have emerged even in the Pakistani market that aims to make homeownership and real estate investment convenient and simple for average citizens. A recently established housing finance company aims to help every Pakistani acquire their own home by harnessing the power of technology. The company aims to save the time and money of aspiring homeowners in Pakistan.
Pakistan has the highest rate of urbanization in South Asia, with the population in towns and cities expected to double in the coming years. Considering this, housing finance in Pakistan, especially for the low-income demographic, remains insufficient and inadequate for the existing population. Currently, Pakistan faces a housing backlog of 10 million houses, with 300,000 increasing every year.
The company aims to establish a world-class housing finance institution that can help Pakistani’s acquire a housing loan/finance easily. This startup has processed almost 1 billion worth of housing finance inquiries. The company has also partnered with some of the leading banks in the country, like Habib Metro Bank and JS Bank, to provide housing loans.
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