Pakistan to establish real estate regulator

The Pakistan government plans to establish a Real Estate Regulatory Authority (RERA) by 2015 in a bid to improve the performance of the land markets and to enhance the real estate investment in the country. The regulator will evolve laws and procedures for licensing and registration of real estate agents and companies and will develop a database on land, housing and real estate transactions. Official sources said the establishment of RERA will help at large to abolish the unregulated land market in the absence of licensing and registration regulations for real estate agents and companies. From gulftoday