On July 12th, 2017, Mr Wen Xingquan, the chairman of Chinabidders, along with the team stationed in Pakistan visited Dr. Amjad Ali, the head of the Housing Department of Khyber Pakhtunkhwa and his colleagues at Peshawar, the capital of Khyber Pakhtunkhwa, Pakistan. At the meeting, they discussed the current situation and new trend of the real estate in Pakistan and reached an agreement.

Dr. Amjad made a brief introduction about the general situation of Peshawar and thought that the “Road and Belt” Initiative provides a great support for Pakistan’s economic and social development. With the resident population increasing, the demand for housing will exceed supply, for which the Pakistan government has planned some real estate projects, including the housing for low-income residents, commercial property, housing for civil servant and so on. The government will make policies to support these projects and is willing to share the information with Chinabidders, hoping that Chinabidders could find some excellent Chinese enterprises to cooperate with Pakistan.

As for the issues mentioned by Dr. Amjad, Mr Wen Xingquan expressed that many of the members of Chinabidders are experts in real estate industry and China has very rich experience in operating the real estate project, therefore, Chinese enterprises are capable enough to achieve Pakistan’s goals on real estate projects. Mr Wen believed that the Pakistan government should actively fund the real estate construction and launch preferential policies to encourage the public to purchase house on mortgage, which could attract more investors and increase the proportion of the building industry in GDP. Dr. Amjad agreed with Mr Wen and expressed that they will actively promote the city planning and solve the housing shortage of Pakistan.

At the end of the meeting, preliminary cooperation intent was achieved between Chinabidders and the Housing Department of Khyber Pakhtunkhwa, who paid high expectations on Chinabidders.