Real estate experts at a seminar organized to celebrate 'World Town Planning Day' Tuesday strongly recommended for redefining the urban planning to regenerate cities by introducing safe/affordable housing schemes in Pakistan under the government's priority of 'Sustainable Cities and Communities', a key component of Sustainable Development Goals (SDGs).

Iqbal Institute of Policy Studies (IIPS), a policy think tank of Graana Group of Companies, in collaboration with NUST held an enlightening seminar to observe the World Town Planning Day here on Tuesday. The event was attended by representatives from various important sectors including town planning, policy making, academia, architecture and corporate.

Pakistan Council for Architects and Town Planners (PCAPT) Vice Chairman, Khurram Fareed said that Pakistan is woefully behind on achieving the Sustainable Development Goals (SDGs), one of which is developing 'Sustainable Cities and Communities'. He further stated that "Around 50% of the urban population in Pakistan is living in slums, and that needs to be remedied on an urgent basis. We need to redefine urban planning to regenerate cities by introducing affordable housing and inclusivity.

IIPS Director Taimoor ul Haq Abbasi outlined the importance of real estate planning alongside urban planning, saying that Iqbal Institute of Policy Studies has been developed to bridge the gap between the stakeholders which in turn will produce effective results for any and all urban planning.

Chairman Graana Group of Companies Shafiq Akbar said that Pakistan's real estate sector holds immense potential adding that intelligent policy making and effective implementation is the only solution for Pakistan's urban planning woes. Shafiq Akbar further said that out of the total population of Pakistan, 36% resides is urban areas, but planned areas hardly make up one percent. Chairman Graana Group introduced RE2020, which is an action plan for Vision2030 and an initiative of the Graana Group of Companies that aims to address the multiple challenges and problems the real estate sector is facing right now. Shafiq said that "Our objective is to identify at least 100 real estate sites for investment by overseas Pakistanis as well as other foreign enterprises." He added that RE2020 will be the solution to all urban planning issues of the country.

Shafiq Akbar insisted that to make RE2020 a success, a collective effort of real estate stakeholders, academia, public and private sector, and town planners would be needed.

Copyright Business Recorder, 2019