Lahore: JW SEZ Group and Shalimar Group have announced the launch of Zalmi Developments, marking a new addition to Pakistan’s real estate sector with plans to develop mixed-use and high-rise projects in major urban centres.
The announcement was made during a memorandum of understanding (MoU) signing ceremony held on Monday at The Nishat Hotel, Emporium, Lahore. The partners stated that Zalmi Developments will focus on adopting international construction standards and incorporating environmentally responsible building practices.
Project scope and development strategy
According to details shared at the launch, Zalmi Developments plans to undertake commercial developments, master-planned housing projects, vertical apartment buildings, hospitality ventures, recreational projects, and real estate investment trust (REIT)-based assets. The company said modular construction techniques and centralized project oversight would be used to ensure consistency in quality and compliance.
Future expansion plans
Company representatives said that expansion into international markets, including Saudi Arabia and the United Arab Emirates, is being considered as part of the long-term roadmap. Any overseas projects would involve collaboration with international planners and consultants, subject to regulatory approvals.
Statements from group leadership
Chairman Zalmi Group Javed Afridi said the entry into real estate aligns with the group’s long-term business planning, with an emphasis on sustainability and structured growth.
Chief Executive Officer Zalmi Developments Asad Afridi said the company would prioritize transparency, quality assurance, and customer-focused development while adhering to international benchmarks.
Shalimar Group Chairman Malik Khizar Hayat Awan said the partnership aims to combine the expertise of both groups to deliver large-scale urban development projects in Pakistan and potentially abroad.
Market context
The launch of Zalmi Developments comes at a time when Pakistan’s property market is seeing increasing demand for regulated and investment-grade developments. The company stated that all projects would be required to meet predefined corporate, technical, and compliance standards.
Further details regarding specific project locations and timelines are expected to be announced in the coming months.
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