Buying a house does not matter to anyone. One thinks about price, location, suitability, working distance, family needs – the list goes on. But one important thing in all this is that the house – the physical building itself – has some value, some longevity. That it will not collapse or flood or a myriad of other worst cases.
Unfortunately, in the country’s largest city, these are legitimate questions to worry about. And nothing kills consumer confidence like a few weird accidents here or there. Such is the case of Naya Nazimabad, which was supposed to be a stellar new housing project, who got involved in the terrible monsoon rains that flooded the city in 2020. And it seems that this has affected sales and so on. In the most recent annual report released to the Pakistan Stock Exchange (PSX), Javedan Corporation, the company that owns Naya Nazomabad, recorded its lowest solid income figure since 2013 – when the company first started operating – and its second lowest solid net income.
What happened? To understand, it helps to have context.
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