M`SIA-BASED RENEXUS TO BUILD 160,000 HOUSES IN PAKISTAN

KUALA LUMPUR, Aug 20 (Bernama) -- Renexus, a world renowned Malaysian
construction company, has submitted a formal proposal to the Pakistan Government
for the construction of 20,000 low-cost houses in each of the eight major towns.

Pakistan High Commissioner to Malaysia Lt-Gen (Rtd) Tahir Mahmud Qazi said
the state land in major towns -- Lahore, Rawalpindi, Multan, Bahawalpur,
Faisalabad, Sargodha, Gujaranwala and Sialkot -- would be utilised to build
quality houses through private sector participation and financial institutions.

Describing Renexus' proposal as the beginning of a mutually beneficial
cooperation between the two countries in the housing sector, Qazi invited other
Malaysian companies to take full advantage of the Pakistan government's vision
to provide decent housing to low-and middle-income families.

"The supply and demand gap in the housing sector will be met by public and
private partnerships wherein the government will serve as the enabler, regulator
and facilitator," he said in a statement.

For major investments, Qazi said it would be tapped from the private sector,
both local and foreign and financial institutions.

Explaining the salient features of the proposal, Commercial Counsellor at
the Pakistan High Commission Waijullah Kundi, said the proposal titled " Green
Township for the Future," envisages each satellite township complete with
commercial, educational, institutional recreation, spiritual, healthcare,
and infrastructure services.

It also envisages eco-effective green design, a balanced and
harmonious modern township planning and a self-contained urban forms of
strengthening social harmony among the residents and accommodating different
income and age groups.

Kundi said the development would incorporate Renexus' latest
state-of-the-art smart building system and other industrialised building methods
to ensure good quality workmanship and speedier construction time.

The Punjab province, with a population of 82 million, is facing a shortage
of five million houses.

It has an incremental demand for 700,000 units a year against the annual
construction of 150,000 units, leaving a huge gap and as a result creating
immense opportunities for construction firms, he added.
-- BERNAMA