SCO SUMMIT 2024 IN PAKISTAN: A GAME-CHANGER FOR MANY DOMAINS

The Shanghai Cooperation Organization (SCO) Summit 2024 in Pakistan represents a proud moment for the nation, not just in terms of diplomatic engagement but also in growing economic growth. As Pakistan prepares to host leaders, diplomats, and business delegations from key Eurasian countries, including China, Russia, and India, the summit will bring international attention to Pakistan's economic and investment potential. The event will allow Pakistan to present itself as a key player in the region, showcasing its strategic location, growing infrastructure, and business-friendly environment. For the real estate sector, this influx of international attention and engagement could lead to investment interest from foreign investors, who may explore opportunities in real estate.

One of the immediate effects of hosting the SCO Summit is the expected rise in demand for commercial and residential properties, especially in cities like Islamabad, Lahore, and Karachi. As foreign businesses, embassies, and multinational corporations expand their operations or establish new offices in Pakistan, they will likely seek prime commercial spaces and residences for their staff. This could lead to a surge in property prices, particularly in areas near major infrastructure projects such as the China-Pakistan Economic Corridor (CPEC), which has already been a significant driver of real estate development. Moreover, the construction of new hotels, conference centers, and other facilities to accommodate international delegations could boost the hospitality and tourism-related real estate markets, further enhancing the real estate sector overall growth.

In the longer term, the summit could serve as an individual for urban and infrastructural development in Pakistan, leading to a more mature and dynamic real estate market. The government is likely to prioritize infrastructure improvements, such as better roads, transportation links, and public utilities, in preparation for the summit, which will, in turn, increase property values in both established and emerging areas. Additionally, with potential policy shifts aimed at attracting foreign direct investment (FDI), the real estate sector could benefit from new financing and development opportunities. Ultimately, the SCO Summit 2024 has the potential to position Pakistan as a regional hub for real estate investment, creating a more attractive and profitable environment for both local and international investors.