LAHORE, Pakistan: Pakistan’s President Asif Ali Zardari on Thursday called for turning the longstanding ties between Pakistan and Saudi Arabia into stronger economic partnerships, with greater investment and private-sector cooperation.
President Zardari expressed these views during his visit to the Saudi Pakistan Real Estate Expo in Lahore on Thursday, according to a statement issued by the President House’s media wing.
The President said Saudi Arabia has consistently stood by Pakistan through challenging times, reflecting the enduring friendship and strategic partnership between the two countries.
President Zardari appreciated the organisers’ efforts to bring Pakistani and Saudi business communities together, observing that such initiatives can help open new avenues for foreign direct investment, encourage private-sector collaboration and foster long-term economic partnerships.
President Zardari Calls for Converting Historic Saudi-Pakistan Ties into Stronger Economic Partnerships
President Asif Ali Zardari visited the Saudi Pakistan Real Estate Expo (SPREX) at Lake City, Lahore, underscoring the importance of strengthening economic cooperation and promoting investment between Pakistan and Saudi Arabia.
Upon arrival, the President was received by Governor of Punjab Sardar Saleem Haider Khan and Dr Gohar Ejaz, CEO of Lake City and Member of the Saudi-Pakistan Business Council.
During the visit, the President was briefed on the participating companies and their projects, as well as the investment opportunities being explored in Pakistan’s real estate sector. The Expo features pavilions of prominent Saudi real estate and investment companies, with participation from Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pakistan Business Council, and Abdul Aziz Al-Ashrafi, Vice Chairman of the Council.
The participating Saudi companies include Safa Investment, Knowledge Economic City, Sumou Investment, Al-Majidiya, Ulo Real Estate, Al-Diyar Al-Arabiya, Bin Daood Investment and International Gate Investment. The participating companies are exploring potential investment opportunities in Pakistan, while showcasing projects in Makkah and Madinah to attract Saudi investors and promote greater cross-border investment.
Speaking on the occasion, the President emphasised the importance of translating the longstanding and fraternal relations between Pakistan and Saudi Arabia into stronger economic partnerships, increased investment and mutually beneficial business opportunities. He reiterated that Saudi Arabia has always stood firmly alongside Pakistan through difficult times, reflecting the enduring friendship and strategic partnership between the two countries.
The President appreciated the organisers’ efforts to bring Pakistani and Saudi business communities together, observing that such initiatives can help open new avenues for foreign direct investment, encourage private-sector collaboration and foster long-term economic partnerships.
He noted that the participation of prominent Saudi business and investment groups in the Expo reflect growing opportunities for cooperation and can contribute to a new phase of development through investment, enterprise and joint ventures. He also underscored the importance of providing a supportive and investor-friendly environment to facilitate foreign investment in Pakistan.
On the occasion, the new uniforms for Pakistan International Airlines crew were also displayed.
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He noted that the participation of prominent Saudi business and investment groups in the expo highlights the growing opportunities for enhanced economic cooperation and investment between Pakistan and Saudi Arabia.
Earlier, the President was briefed on the participating companies and their projects, as well as the investment opportunities being explored in Pakistan’s real estate sector.
Expo features pavilions of prominent Saudi companies
The Expo features pavilions of prominent Saudi real estate and investment companies, with participation from Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pakistan Business Council, and Abdul Aziz Al-Ashrafi, Vice Chairman of the Council.
The participating Saudi companies include Safa Investment, Knowledge Economic City, Sumou Investment, Al-Majidiya, Ulo Real Estate, Al-Diyar Al-Arabiya, Bin Daood Investment and International Gate Investment.
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The participating companies are exploring potential investment opportunities in Pakistan, while showcasing projects in Makkah and Madinah to attract Saudi investors and promote greater cross-border investment.
A total of 19 Saudi entities are participating in the expo, which expects to welcome approximately 5,000 visitors, including 1,000 qualified investors, the Saudi Press Agency (SPA) reported.
The expo seeks to bolster commercial and investment partnerships between the two nations and highlight the opportunities available within the Saudi real estate sector.
It serves as a platform that brings together developers and investors, facilitating direct engagement to explore potential areas of cooperation.
Pakistan and Saudi Arabia have maintained close relations for decades and have sought to broaden cooperation across several sectors.
In 2024, the two countries signed 34 memorandums of understanding worth $2.8 billion, covering multiple areas of cooperation.
