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ISLAMABAD, Dec 06 (APP):The International Conference on “Re-Imagining the Real Estate: Sustainable Market Growth and Urban Planning” concluded successfully on Friday at the National University of Modern Languages (NUML).
Over two days, the event brought together developers, industrialists, researchers, and academia to tackle pressing challenges in the real estate sector, propose policy solutions, and combat fraudulent practices, a press release said.
Organized by NUML’s Faculty of Management Sciences in collaboration with the Higher Education Commission (HEC), Islamic Relief Pakistan, and the Institute of Management Sciences (IMSciences), the conference provided a dynamic platform for dialogue on sustainable development and urban planning.
The closing session featured Rector NUML, Major General (R) Shahid Mehmood Kayani, and Deputy Country Director of Islamic Relief Pakistan, Ghulam Raza Narejo, as the keynote speaker.
In his address, Rector NUML, Major Gen (r) Shahid Mehmood Kayani HI(M) lauded the efforts of the organizers for hosting the conference, the first of its kind at the university.
Highlighting the significance of the real estate sector, which contributes 40% to Pakistan’s GDP, he emphasized the urgent need to address its challenges.
“The real estate industry impacts everyone in one way or another and holds equal importance globally. It is essential to tackle issues such as illegal housing societies, which account for 60% of the market, through robust policies and public awareness,” he stated.
The Rector also stressed the critical role of academia in shaping solutions for the industry and expressed hope that the conference’s recommendations would inform government policies.
In his keynote address, Deputy Country Director Islamic Relief Pakistan, Ghulam Raza Narejo apprised the audience of Islamic Relief’s initiatives, particularly its focus on environmental sustainability. He emphasized the importance of developing climate-resilient communities to protect urban living and natural habitats. He urged policymakers and developers to prioritize climate and environmental factors when designing societies and infrastructure, underscoring the need for a balanced approach to urban growth that safeguards the planet for future generations.
The Dean of the Faculty of Management Sciences presented the conference’s key findings and policy recommendations, which included government led Centralized Real Estate platform for transparent property transactions.
It also included enhanced Market Efficiency, Standardized Property Valuation, addressing Mismanagement, Regulating Unauthorized Housing Societies: Establishing an independent regulatory body, Sustainable Urban Development: Revising zoning laws for equitable urban expansion, Technological Integration: Implementation of blockchain and AI-powered tools, Real Estate Investment Trusts (REITs): Promoting REITs for market stability, Inclusivity in Housing Policies: Encouraging equitable development, Academia-Industry Collaboration: Establishing dedicated real estate research centers.
The two-day event featured eight thematic sessions addressing key issues in the real estate sector. A total of 32 experts from diverse fields shared their insights, providing actionable solutions to challenges such as urban sprawl, mismanagement, and unauthorized developments.
Notably, the conference was organized by 52 dedicated students from NUML, with faculty providing supervision and guidance. Their exceptional efforts ensured the event’s success, reflecting NUML’s commitment to fostering student leadership and innovation.
The conference concluded with a commitment to foster ongoing dialogue and collaboration among stakeholders to ensure sustainable market growth and urban planning in Pakistan.