Vision Tech, a UAE-based tech company, has announced its ambitious plan to invest big in the Pakistan real estate sector. The company will be launching an online platform, named Shaariq.com, to bridge the digital divide in real estate.
Vision Tech’s full-stack model will digitalize the process of buying, selling, renting, and managing a property, as well as offer new, unique services, including property registration and online rental agreements.
Prime Minister Imran Khan has consistently emphasised the importance of the real estate and technology sectors as drivers of economic growth, development, and modernization in Pakistan.
Vision Tech’s decision to invest in Pakistan draws upon the Prime Minister’s focus emphasis on both these sectors and bodes well for buyers, sellers, brokers, and municipalities alike.
Artificial price inflation and scams, including the sales of a single property to multiple buyers, have hampered the rationalization of the real estate market in Pakistan.
The real estate platform will list verified and vetted properties, and provide an avenue for buyers to deal with brokerage agents who have been trained and issued a unique registration number by Shaariq.com — a move that will increase trust between all transacting parties. The company is also in talks to tie up with municipalities, to reduce reliance on excessive paperwork and enhance transparency.
“Shaariq.com will bring much-needed digitalization to an extremely fractured industry. Real estate stakeholders have largely operated in a non-transparent, low-trust ecosystem that left much to be desired. Vision Tech hopes to leverage its expertise in an organized market like the UAE to unlock the Pakistan real estate sector’s massive untapped potential. Pakistan’s rapid population growth, high internet penetration, tech-savvy young generation, and government-helmed initiatives have inspired Vision Tech’s big bet”, said Rajab Virani, CEO, Vision Tech.