Real estate of Pakistan is a playing a very vital role in growing economy of Pakistan. According to a recent survey, Pakistan spends almost $5.2 Billion on construction every year. Property investors from inside and outside the country are investing in Pakistan. Bahria Town is a clear example of investment on real estate in Pakistan, which is the largest private real estate investor in Asia. Below is the list of some renowned Pakistani real estate tycoons.
Asif Ali Zardari
Asif Ali Zardari was born on 26 July, 1955 in Karachi, Sindh, Pakistan and the only son of Hakim Ali Zardari (A tribal chief of Sindh). He is a Pakistan based politician and a real estate businessman. He remained the President of Pakistan between 2008 to 2013. He is at number 1 on the list of Richest real estate billionaires of Pakistan .He is currently co-chairman of Pakistan People Party (PPP), which was founded by his father-in-law. He was married to Benazir Bhutto (former Prime Minister of Pakistan) in 1987 and became the First Gentleman in 1988 after his wife was elected as Prime Minister. Zardari total fortune is estimated to be $1.8 Billion. He has mostly land owned in Nawabshah, Sindh. He received his early education from Karachi. His educational career after that is however unclear. He has fond of boxing and polo. Zardari along with his associates were entangled in many corruption cases during his wife administration in the country. He was accused of taking 10% commission by getting permission (from his wife) for the setup of any company in Pakistan which tagged him a title of Mr 10%. He has 1 son named Bilawal and 2 daughters Bakhtawar and Asifa. His wife was assassinated on December, 2007 in a suicide attack in Rawalpindi.
Malik Riaz Hussain
Malik Riaz Hussain (Born on 8 February, 1954) is a great business tycoon, philanthropist and real estate owner of Pakistan. He is famous for his housing scheme â€œBahria Townâ€, which is now established in different cities of Pakistan. Malik Riaz has a total fortune of about $1.2 Billion which puts him 2nd in the list of richest real estate owners of Pakistan. He is at number 2 on the list ofÂ Richest real estate billionaires of Pakistan .He was born in Sialkot and took his early education from there. Malik Riaz belonged to a lower middle class family who often had different financial problems. At the age of 19, he started earning as a clerk. Later on, he started his own business and is now among the richest people of Pakistan. Malik Riazhas been through many controversies throughout his career. It is also said that he has close links with many serving army officers, bureaucrats and politicians for all his work done. He is married to BeenaRiaz and has 4 children. His son Ahmed Ali Riaz is working with his father in expanding their business. Malik Riaz is also very famous for his charities and funds for noble causes.
Saddaruddin Hashwani was born on 19 February, 1940 in Karachi, Pakistan. He is the founder and currently the Chairman of Hashoo Group. He is known for his dominance in the hotel industry of Pakistan. His estimated wealth is about $1.1 Billion. He is at number 3 on the list of Richest real estate billionaires of Pakistan. Saddaruddin Hashwani started his career as a trader with his brother in 1960. Within a span of 10 years, Hashwani became the biggest trader of cotton in Pakistan. In 1973, he diversified his business by investing in hotel industry. He is the owner of famous Pakistani 5-star hotels: Holiday Inn (Now Marriot Hotel) and Pearl Continental. He was awarded gold medal in World Tourism Convention for his hospitality services in Pakistan. Hashwani has 2 sons and 3 daughters.
Nasir Schon was born on 28 November, 1957 in Karachi, Pakistan. He is the son of ex-pilot of Pakistan International Airlines (PIA), Capt. Ather Schon Hussain. He is currently the CEO of Schon Group. He has a total wealth of about $ 1 Billion. He is at number 4 on the list of Richest real estate billionaires of Pakistan.Nasir started his real estate business from Singapore in 1982. The business was at its peak in 1995 but due to political crisis in Pakistan at that time, the business was shifted to Dubai. Nasir Schon is currently working on his project Dubai Lagoon in Dubai which worth $850 Million. He has 2 sons Khizer and Ashar who are working on different projects in Saudi Arabia.
Abdul R Yaqoob
Abdul Razzaq Yaqoob (Born on 7 May, 1944) was a famous Pakistani businessman and trader of gold. He was the founder and chairman of ARY group. He is at number 5 on the list of Richest real estate billionaires of Pakistan.He was also the lifetime head of World Memon Organization (WMO). His total fortune is less than $1 Billion. Abdul Razzaq was born in Surat, British India and moved to Dubai in 1969. In 1972, he opened his first outlet in Deira, Dubai. Now, he is the owner of 20 outlets in Asia. He has huge property holdings in different parts of Pakistan. He died on 21 February, 2014 in London due to prolonged illness. He has 5 daughters.