HBFCL and ABAD meet to explore cooperation in housing sector
Karachi, January 27, 2012: House Building Finance Company Limited – HBFCL , recently arranged a luncheon meeting with members of Association of Builders and Developers (ABAD) at a local hotel. The aim of the meeting was to discuss the increasing housing shortage and to jointly address the challenges being faced by the public and the builders and developers in the country.
Hosted by Managing Director and CEO of HBFCL, Mr Azhar Jaffri, the luncheon was attended by Mr. Mohsin Sheikhani- Chairman ABAD, Mr. M. Arif Siddik- Vice Chairman ABAD, Mr. M. Saleem Kassim Patel- Chairman (SR), Mr. Muhammad Hanif Memon, Convener HBFCL, and Mr. Noman Tabani, Co- Convener HBFCL.
A number of key issues relating to the housing sector and especially to the huge housing shortage in the country, now estimated to be over 10 million units, were discussed informally by all present. Both HBFCL and ABAD are key stakeholders in this matter, being leading facilitators for the revival of the housing and construction industry.
While highlighting the significance of ABAD’s role in the development of the housing sector, Managing Director and CEO, HBFCL, Mr Azhar Jaffri, said “In order to address the burgeoning housing shortage in the country, it is essential that key players such as ABAD and HBFCL join hands and work together to address the challenges faced by the housing sector in Pakistan. It is indeed a great opportunity for us today that both organizations have come together for a common cause.”
The House Building Finance Company Limited (‘HBFCL”) is an unlisted Public Limited Company. Its Vision is “to be the prime housing finance institution of the country, providing affordable housing solutions to low and middle income groups of population by encouraging new constructions in small & medium housing (SMH) sector.” Since its inception it has provided a range of housing finance products and services for nearly half a million housing units.