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The Pakistan Credit Rating Agency (PACRA) and National Engineering Services Pakistan (Nespak) have jointly assigned Eden Developers (Pvt) Limited (EDPL) a developer grading of 'PE2' indicating a strong project execution capacity with highly promising prospects of execution of real estate projects as per plan and the ability to transfer ownership as per terms.
EDPL is the first real estate developer in Pakistan to be assigned a developer grading. The grading reflects EDPL's history of successful projects execution, its leading position as a developer, and its experienced management team supported by effective project management systems.
Eden Developers, formerly Developers Group (Pvt) Ltd, was incorporated in 1981 with a paid-up capital of Rs 0.25 million, which at present, amounts to Rs 253.32 million.
The focus of the company continues to remain on providing for the residential needs of a growing middle class by building high quality houses at affordable prices, and at the same time, providing the business community with modern and contemporary commercial buildings.
Financing from institutions is usually acquired at the land acquisition and initial development stage of the project. Once the project is launched, the company has ample liquidity generated through customer instalments to construct and complete the project on time.
However, consistent cash flow generation from clients is exposed to certain risks, which are mitigated by the detailed documentation that is carried out with the potential buyers clearly stating the terms and conditions that need to be adhered to by both parities.

Copyright Business Recorder, 2004

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