The government is set to create a Real Estate Regulatory Authority (RERA) to oversee Pakistan’s largely unregulated property sector. Prime Minister Shehbaz Sharif has directed authorities to fast-track reforms aimed at expanding access to affordable housing.

During a meeting on the Federal Ministry of Housing and Works at the Prime Minister’s House in Islamabad, officials presented a roadmap for constructing homes for low-income groups through public-private partnerships. The new RERA will monitor codes of conduct and regulatory standards in the real estate and housing sectors.

Prime Minister Sharif emphasized that providing affordable housing, encouraging private sector involvement, and enhancing public facilities remain top government priorities. He also instructed practical steps to make housing finance more accessible to ordinary citizens.

The meeting included briefings on tax reforms in the construction sector, with consultations between the Federal Board of Revenue (FBR) and provincial authorities underway to standardize taxes. Draft reforms for housing mortgages are also being reviewed.

In addition, the Ministry of Finance, FBR, Securities and Exchange Commission of Pakistan, and provincial housing departments are coordinating to develop real estate investment trusts (REITs) to support housing finance and investment in the property sector.