The Most Notable Real Estate Magnates in Pakistan
Real estate development in Pakistan has boosted over the years on account of the rising demand of a rising population heading towards a higher standard of living.
Some of these notable developers have gone on to become nothing short of billionaires in the Pakistani industry. You are sure to find some recognizable names of individuals and construction groups on this post. In a constantly developing market, it can be said that their chances of crossing their own marks are almost a certainty.
- Asif Ali Zardari (Net worth $1.8 Billion)
The former president of Pakistan from 2008-2013 tops this list by far because of the surreal amount of property he owns, most of which is found in Nawabshah, Sindh. Asif Ali Zardari became the First Gentleman of Pakistan when his wife Benazir Bhutto was elected as the Prime Minister of the country. In addition, he was involved in some corruption charges as well on account of allowing companies to set up in Pakistan if they handed him 10% of the commission.
Overall, such a real estate billionaire has yet to be seen in Pakistan.
- Malik Riaz Hussain (Net worth $1.2 Billion)
The second biggest billionaire who found wealth in real estate like no other is Malik Riaz, the well-reputed Malik Riaz. Born in Sialkot, he has experienced a low point in life while working as a clerk and is now soaring in the skies by making the most of a business he started years ago.
At present, he is married and is the father of four children. His son Ahmed Riaz has joined his father in this run to become a legend in the history of real estate in Pakistan. Apart from springing up a project like Bahria Town in multiple cities across Pakistan, he is also known for his donation and charity towards the underprivileged.
- Saddaruddin Hashwani (Net worth $1.1 Billion)
The chairman of the Hashoo group, which presently owns Karachi’s famous Movenpick Hotel and Pearl Continental Hotel, is another wealthy individual on this list.
Having been awarded a gold medal by the World Tourist Convention, Hashwani has set a legacy like none other when it comes to hotel development and marketing in Pakistan. A fun fact about him is that he used to be the biggest cotton exporter of Pakistan, and hotel building was his extended business.
- Nasir Schon (Net worth around $1 Billion)
The owner of the Schon group is not exactly a billionaire, but the margin is too less for him not to be classified as one. He started his business in Singapore in 1982, and right now he is working on projects like Dubai Lagoon in the UAE and in Saudi Arabia. The Saudi Arabian business is managed by his sons, Khizer and Ashar, respectively.
By looking at the pace with which residential areas are being populated with concrete, it comes as no surprise that these developers were able to use their business skills to rise to the top. And their empires are likely to expand in the near future.