Lahore | Muhammad Faisal Salahria ReNews Lahore
Pakistan’s cement industry is closing fiscal year 2025 26 on a relatively stronger footing, but the pace of growth remains limited. Total cement dispatches during the year are expected to cross 50 million tonnes, around 7 percent higher than the previous fiscal year.
Industry estimates suggest that the improvement is being driven mainly by domestic demand. Local dispatches are expected to rise by nearly 9 percent, while exports may decline by around 3 percent. Lower inflation, easing interest rates and improving business confidence have helped revive private construction activity to some extent.
However, the cement sector continues to face a major structural challenge. Production capacity expanded rapidly in recent years, but consumption did not grow at the same pace. Capacity utilisation is expected to improve from 56 percent last year to around 59 percent this year, still below the 65 percent level generally considered healthy for the industry.
During the peak of construction activity linked to the China Pakistan Economic Corridor and the housing incentives under the Naya Pakistan Housing Programme, cement manufacturers expanded their production lines aggressively. But economic instability, political uncertainty and repeated stabilisation programmes slowed construction activity before the new capacity could be fully absorbed.
Exports are also no longer providing the same level of support. Rising regional competition, freight costs and less favourable economic conditions have affected overseas dispatches, particularly for cement producers in southern Pakistan that depend on sea routes for exports.
Analysts believe the renewed focus on the domestic market is commercially more attractive for cement manufacturers, as local sales usually offer better pricing power and lower logistics costs. At the same time, it means the industry is now more dependent on Pakistan’s own construction cycle, public development spending and housing activity.
In the fiscal year 2026- 27 budget, the government has announced several tax measures aimed at supporting construction and real estate activity. A subsidised housing finance scheme is also expected to encourage home ownership. Still, weak housing affordability, limited household income growth, tax pressures and constrained public development spending remain key obstacles.
Industry observers say local demand is unlikely to grow fast enough in the near term to absorb Pakistan’s surplus cement capacity. However, major cement companies have focused in recent years on strengthening balance sheets, reducing production costs and diversifying export markets where possible.
For the sector, the more important requirement now may not be another temporary construction boom, but a stable economy that can generate steady domestic demand every year. Such a path could provide a stronger and more sustainable base for the industry, even if surplus capacity continues to cast a shadow over the market for some time.
The recovery in cement dispatches is encouraging, but it does not yet signal a full construction boom. The key question is whether domestic construction demand can remain steady. Lower interest rates, housing finance and budget incentives may support gradual improvement, but surplus production capacity is likely to remain a challenge in the near future

Lahore | Faisal Sulehria ReNews Pakistan
The trend of overseas Pakistanis’ investment in Pakistan’s real estate sector appears to be rising again. However, the increase remains cautious in nature. Overseas Pakistanis are showing interest in the property market, but full momentum has not yet returned due to concerns over fraud, unapproved housing schemes, possession disputes, taxes and timely completion of projects.
No separate official monthly data is regularly released on overseas Pakistanis’ real estate investment in Pakistan, making it difficult to measure this investment directly in percentage terms. However, if remittances, Roshan Digital Account inflows, government tax relief and property related facilities for overseas Pakistanis are taken into account, investment potential and interest in the sector appear to have increased during fiscal year 2025-26.
According to the figures, remittances from overseas Pakistanis stood at $4.251 billion in May 2026, showing an increase of 20.2 percent on a monthly basis and 15.4 percent on a yearly basis. During July May FY2025-26, total remittances reached $38.1 billion, which is 9.2 percent higher compared to the same period last year. According to economic experts, the rise in remittances is a positive indicator for the real estate sector, as a major portion of overseas Pakistanis’ savings is generally invested in plots, houses and commercial property.
Improvement has also been witnessed in overseas investment through the Roshan Digital Account. In April 2026, RDA inflows reached a record level of $321 million, while total inflows rose to $12.747 billion. Similarly, RDA inflows during the current fiscal year stood at $2.184 billion, higher than $1.925 billion recorded during the same period last year.
Under the State Bank’s Roshan Apna Ghar programme, non-resident Pakistanis can digitally purchase, construct or renovate a house in Pakistan. Investments made through RDA can also be repatriated abroad, indicating that a formal route for overseas Pakistanis to invest in real estate is active.
On the other hand, the government has also described measures to reduce property taxes and transaction costs in the FY2026-27 budget as important for overseas investment. According to reports, steps such as reductions in withholding tax, capital gains tax and property valuations are aimed at bringing buyers, sellers and especially overseas Pakistanis back towards the real estate market.
However, challenges still remain. The Overseas Pakistanis Foundation has also acknowledged that overseas Pakistanis are interested in real estate due to the potential for higher returns, but many have suffered losses because of fraud and non-completion of projects by developers. This is why scrutiny of housing societies that have an NOC and the required land is being considered.
According to real estate experts, any increase in overseas Pakistanis’ investment depends on trust, legal protection and approved projects. If the government ensures transparent digital records, online verification of NOCs, protection of possession rights and timely delivery of projects, investment by overseas Pakistanis in the country’s real estate sector may increase further in the coming months.

Lahore | Renews Pakistan
Agricultural land records involve far more than simply writing down the owner’s name. They form a complete administrative and legal system in which the geographical identity of land, its area, ownership share, crops, possession, mutation and maps are all interconnected. In Pakistan, particularly in rural Punjab, these records have traditionally been maintained through the Patwari system. They are now gradually being computerised and linked with Geographic Information Systems, or GIS.
Legally, a Record of Rights is prepared for every mouza, or revenue estate. It includes the rights of landowners, tenants and cultivators, their respective shares, liabilities and a map of the mouza. To understand land records, it is important to be familiar with several basic terms.
A mouza is the village or revenue area in whose name the official land record is maintained, while the hadbast number is the official identification number of that mouza. Each agricultural parcel generally has a khasra number. This can be understood as the land’s identifying number, showing where a particular field or parcel is located on the map.
A single owner, or a group of co owners, may hold land spread across several khasra numbers. Such ownership is generally recorded through a khata or khewat in the revenue record. The khata records the owner’s name, share and the khasra numbers falling under that ownership account. If someone other than the owner cultivates the land as a tenant or sharecropper, that person may be recorded in the khatooni. In simple terms, the khata provides details of ownership, while the khatooni generally reflects cultivation or possession.
Khasra Girdawari is the record in which the Patwari enters details of the crop, cultivated area and the actual cultivator after inspecting the field. It is not conclusive proof of ownership. Rather, it is an official record of land use and cultivation status.
Jamabandi is the comprehensive Record of Rights for a mouza. It may include the name of the owner, ownership share, khasra number, area of land, cultivator, type of land and certain revenue liabilities. When a person needs official proof of the entry relating to their land, they obtain a certified extract from the Jamabandi, known as a Fard. A Fard shows the current entry relating to a particular owner, khata or khasra number.
The Shajra or Latha is used to connect the written record with the actual location on the ground. It is a map of the mouza showing khasra numbers and the position of land parcels. This map becomes especially important in boundary demarcation, partition and land disputes.
The process of changing an entry in a Patwari register also follows a formal procedure. When land is purchased, inherited, gifted, mortgaged or affected by a court order, the change is first reported to the revenue authorities. This initial report is entered in the Roznamcha Waqiati, the daily diary that records important revenue events.
After this, a mutation, locally known as Intiqal, is entered. Mutation is the recording of a change in the revenue record, such as transferring land to legal heirs after the death of an owner or recording the buyer’s name after a sale. The relevant revenue officer verifies the parties, documents and the claim to the right before approving the mutation. Once approved, the change is reflected in the subsequent Jamabandi and Fard.
One important legal point must be understood clearly: mutation and Fard are significant official records, but mutation by itself does not create ownership. In a disputed case, the registered sale deed, inheritance documents, gift deed, court order and other evidence must also be examined. A mutation is primarily a revenue entry and is not automatically a title document.
Under the traditional system, the Patwari maintained records of the mouzas within his jurisdiction in the form of Jamabandi, Khasra Girdawari, mutation registers, Roznamcha and Shajra maps. Record rooms at the tehsil and district levels also played an important role in preserving these documents. A key strength of this system was that it allowed continuous recording of crops, possession and local land conditions. However, manual records also created risks of delays, errors, restricted access and possible manipulation.
This is why Punjab moved towards computerisation of land records. Under the Punjab Land Records Authority, Arazi Record Centres provide services such as the issuance of Fard, ownership verification and certain mutation services through a one window system. The aim is to reduce reliance on manual processes and create a more transparent, centralised and GIS linked land record system.
However, digitisation does not automatically resolve all issues involving old maps, joint ownership, boundary demarcation or possession disputes. For example, a co owner’s share may be recorded in a joint khata, but a specific physical parcel is not considered separately owned until a formal partition, measurement and mapping process has taken place.
Other countries have modernised land records in different ways. India has a historically similar system, where concepts such as Record of Rights, khasra and khatooni are widely used. Several Indian states are now connecting ownership records with digital cadastral maps so that maps can also be updated promptly after mutation or partition.
In England and Wales, the central land record is maintained through a Title Register and Title Plan. The Title Register records the legal owner, mortgages, rights of way and other legal restrictions, while the Title Plan shows the general boundaries of the land. Ownership and legal burdens can therefore be accessed through a central registry in a relatively clear manner.
New Zealand has maintained land titles, survey plans and property transactions through an electronic system since 2002. There, legal boundaries are connected to accurate survey plans, and new titles are issued following the subdivision of land.
For Pakistan, an effective system would be one in which registered deeds, mutations, Fards, khasra numbers, Shajra maps, court orders, mortgages and GIS maps are all available through one integrated digital platform. If maps and land areas are updated immediately with every mutation, and citizens can access verifiable historical records, land disputes and fraudulent transactions can be reduced significantly.
Finally, before buying agricultural land or dividing inherited property, no one should rely on a Fard alone. A current Fard, Jamabandi, khasra number, Shajra map, mutation record, registered deed, possession status, possible mortgage and the status of joint ownership must all be carefully checked.

Lahore | ReNews Pakistan
Punjab’s decision to introduce Green Property Certificates is a significant move towards greater transparency, legal security and investor confidence in the real estate sector. Property transactions have long been affected by concerns over unclear ownership records, forged documents, disputed plots and unapproved housing schemes. A credible digital verification mechanism can substantially reduce these risks.
A Green Property Certificate can help a prospective buyer verify that the property record is accurate, ownership is identifiable and no known legal or administrative issue appears in the available official record. This will make due diligence easier before a transaction is completed and may reduce the likelihood of fake files, double selling and ownership-related disputes.
The initiative also carries important economic value. When property information is reliable, accessible and officially verified, buyers, investors and banks can make decisions with greater confidence. Properties carrying clear and verifiable records are likely to attract stronger demand, improve their market value and become easier to use as collateral for bank financing.
However, the success of the system will depend on implementation. Certificate issuance must be fast, affordable and understandable for ordinary citizens. Government land records must be updated regularly, online verification should be dependable, complaints must be resolved promptly and unapproved schemes should be clearly identified.
With effective execution, Green Property Certificates can make Punjab’s property market safer, more organised and more investment-friendly. Rather than merely adding another document to a transaction, the initiative has the potential to build trust across the entire real estate ecosystem.

Australia | ReNews Pakistan Australian supermodel and entrepreneur Elle Macpherson has quietly built a significant international property portfolio over the past two decades, highlighting how high-net-worth individuals leverage real estate as both a lifestyle asset and a long-term investment. Among her holdings was a Florida estate in Coral Gables, purchased in 2018 for approximately US $8.1 million. The property, spread across more than 1.7 acres, featured a six-bedroom main residence, multiple bathrooms, and outdoor amenities, including a saltwater pool. In 2024, the estate was sold for US $18.5 million, reflecting substantial appreciation over a six-year period. Macpherson also owned a large estate in Aspen, Colorado, acquired in 2007 for around US $36.5 million. The property, located in an exclusive gated community with luxury features, was later listed for sale in 2015. Her portfolio has included urban residences, such as a New York City apartment on the Upper East Side, which she sold in 2017 for approximately US $2.4 million after owning it since 1993. In the United Kingdom, she sold a Notting Hill home in London in 2009, which she had purchased three years earlier, and also held a lakeside property in the Cotswolds that she helped design. These real estate transactions demonstrate how strategic acquisitions and timed sales have allowed Macpherson to preserve and grow wealth while maintaining properties that reflect personal lifestyle preferences. The portfolio illustrates a wider trend among celebrities and high-net-worth investors of diversifying assets internationally, combining residential use with investment objectives. Macpherson’s property investments form a part of her broader business interests, which include ventures in fashion, wellness, and media. The approach reflects careful planning and long-term value considerations typical of high-profile investors in global real estate markets.