The financial crisis of 2008 has affected badly the real estate sectors worldwide. Everybody knows how the spectacular Dubai real estate sector collapsed when global crunch hit Dubai. Despite the fact that Pakistan is a developing country, the financial crisis could not affect it as drastically as it affected other developing nations. Experts believe that one of the reasons behind it is that Pakistan’s economy relies less on its real estate sector. The performance of Pakistan’s real estate has remained unstable after 2008. Some experts believe that is because the prices of properties have been stagnant for the last six years while others think that the sector is under stress.
Realtors are still pessimist about the future!
The contribution of the construction sector in the country’s GDP has been slashed down to a mere 4%, from 28% in 2009. This shows that developers are reluctant to start new projects, due to the inability of the government to facilitate new gas and electricity connections for the newly build units, the high prices of the construction materials and the low demand of properties determined by people’s low purchasing power.
Though people have mixed views about the current performance of Pakistan’s real estate, all the industry specialists and Pakistani realtors are optimistic about the future of realty market. This is because the Government of Pakistan is vigilant in fixing the problem of its once spectacular real estate sector as soon as possible. The realtors three main reasons of optimism are as follows:
Better law and order
Though the law and order situation in Karachi is currently weak, causing some of its residents to shift to a city with better law and order i.e. Lahore, yet the government is taking stern actions to stop target killing and blood shed in the city. The Government has appointed rangers and other law enforcement agencies at the public places. Moreover, security measures have been taken on the exit and entry points of the residential colonies to provide a complete secure environment to residents.
Elections are drawing near in Pakistan and with new government, it is expected that bringing a better law and order situation in Pakistan would be its top priority list, which could increase the investment of local people in Pakistan’s properties and can bring this sector back to life.
Decrease in interest rate
Currently, the prices of properties in Pakistan are quite high which is merely due to high inflation in the country. Because of the floods of previous three years, prices of commodities have increased drastically, affecting badly the purchasing power of people in the country. The low purchasing power is the main hurdle for people to secure or even apply for a decent mortgage deal. The Government, in collaboration with the State Bank of Pakistan, is not only trying to curb inflation but also decrease the interest rate on home loans.
The State Bank of Pakistan slashed down the interest rate from 14% to 13.50% during 2011. This shows that the government is seriously interested to increase the purchasing power of people to help them secure a better mortgage deal for themselves. Further decrease in interest rate is expected during the following years, which would increase the demand of properties in the country. Diminishing the disparity between demand and supply would bring prices down and set Pakistan’s real estate sector back on track.William King is the director of Pakistan real estate and mainly deals in Karachi, Islamabad and Lahore real estate. Being an entrepreneur and passionate blogger he likes to share his knowledge and expertise with the industry people by writing for various related blogs.
What to Do if You Are Involved in a Truck Accident While Traveling
Any vehicle accident can potentially cause a lot of damage, not only to the vehicle itself but also to the passengers. One of the most fatal type of accident on the roads is an accident involving a truck. No matter where you are traveling to, or from, it is important to know the steps to take should you be involved in a truck accident. We are going to look at those steps in this article.
Step 1: Say Nothing That Admits Fault
After an accident, you may be required to speak to the police and Highway Patrol. While it is important to be truthful and answer any questions they have, you don’t want to elaborate or provide too much information. If you have any questions about the other party, you should limit yourself and just ask if they are hurt. No matter what you do, don’t apologize, don’t speak to the other driver, and don’t say anything like “I didn’t see you”. All of these things can come across as an admission that you are at fault. It is unlikely that fault can be determined at the accident scene, and you don’t want to risk jeopardizing your case by saying something you shouldn’t.
Step 2: See a Doctor
It’s wise to see your doctor immediately after an accident, even if you feel fine. Many people do feel okay after an accident, but they still have injuries that need checking out. Not only will this help to ensure your personal safety, but you will also have any injuries you sustained on record, should your truck accident lawyer need them when building your case.
Step 3: Notify Your Insurance Company
Your insurance policy should detail the steps you need to take to report a claim. You might also want to review your policy to see what kind of coverage you have, and how long you can expect to wait to receive a payout. Your insurance company may need extra information regarding the accident so be prepared for this.
Step 4: Contact an Attorney
Delay and procrastination can lead to a lost claim, so as soon as you have seen a doctor and notified your insurance company you’ll want to contact a truck accident attorney. Every state has different limitations regarding the statute of limitations for personal injury claims, so it’s wise to do this as soon as possible. If you were traveling out of state when the accident happened, you may need to speak to an attorney based in the state where the accident took place.
Your attorney will be able to look at the evidence you provided, as well as your medical records, and let you know whether you have the basis for a claim. The first meeting is usually free, too, so it’s always worth finding out if you could claim compensation. Whatever you do, don’t bow over to the trucking company’s lawyers, especially if you couldn’t have done anything to prevent the accident.
Have you ever been injured in a truck accident that wasn’t your fault? Let us know what happened in the comments.
GESAB, innovation and design with 25 years of experience
GESAB is a company with the guarantee of the future based on its basic pillars: ergonomics, innovation, design and technology on which GESAB develops all its projects for centers and control rooms.
GESAB, has more than 25 years of experience offering solutions for control centers. An experience identified by always being at the forefront of innovation and design, whose mission will be to offer all its customers solutions with the highest quality and functionality.
GESAB has a large team of architects, engineers and designers, which makes it easy to cover the project in a global way and offer a multitude of solutions. It is worth highlighting its integral projects developed in a unique and exclusive way to satisfy all the needs of the client, surprising them in every detail. In addition, the GESAB team develops lighting, design, interior design and ergonomics studies to look for a better performance in the work starting from the humanization of the means to produce it, that is, to give the control rooms the maximum functionality and character of their own.
The control centers developed by GESAB provide the integration of the most advanced technology. All its designs and consoles are unique and personalized, created for each client, working from comfort to project execution to ensure maximum quality. GESAB guarantees compliance with its basic principles of design and ergonomics within the control centers. Its design is the beginning of the renovation and technological update; its layout of room, visualizes the best workstations; its indicators and controls, facilitate the interaction with the design of the hardware and software of the control panel; its evaluation will review the components so that they are to the maximum performance and its environmental requirements improve the luminous, acoustic environment…
GESABs technical furniture complies with the highest standards in ergonomics and safety at work. Fantastic design and quality are present in all GESAB control consoles, to ensure maximum functionality and performance in this type of crucial environments.
These workspaces available 24 hours a day, 7 days a week place GESAB consoles on an operators main axis. GESABs work is carried out in conjunction with the customer, allowing the development of fully customized and adapted control rooms. From technical furniture, through ergonomic chairs, audiovisual equipment, design, technical flooring, ambient lighting or acoustic panels. GESAB is able to face small and big challenges all over the world, looking for complete and innovative solutions that are not only limited to operator control consoles, but also include ergonomic solutions and the most advanced technology.
In addition, all GESAB components are based on a safety principle in their products. These include the personalized control panels that include the switchboards and synoptic panels, all for the most sophisticated and technical environments, where precision is key, taking a further step towards innovation. GESAB has already had many success stories, and are related to all sectors, whether energy companies, civil protection, security, systems management, finance, telecommunications, traffic control or airport due to the advantages it offers for companies such as increased productivity and energy efficiency.
GESAB has developed the new generation with a revolutionary solution that puts the operator at the heart of the action through the management, administration, control of equipment and information sources bringing visual ergonomics to a new dimension.
The Sweet Caroline of Dogers Owner
Mark Walter is a billionaire and CEO at Guggenheim Partners LLC. Is he driving Guggenheim towards the beginning of the end? Are the owners of the L.A. Dodgers being dodged???
Guggenheim has established its name and a tradition of innovation in the past decade. It has emerged as a new player in the financial markets focusing on mergers and acquisitions, insurance and wealth management and has over $300 billion in money management.
Guggenheim has become known as the “New Goldman Sachs”. It has become a renowned recruiter of the best talent in the industry (including Bear Stearns CEO Alan Swartz). Guggenheim continually makes the cover page in most financial papers, including The Financial Times and The Wall Street Journal. Lately, Guggenheim has been appearing in the press for all of the wrong reasons or for the LA Dodgers making it to the World Series.
But the tide is beginning to turn on Walter and Guggenheim. The news now regularly includes information on CEO Walter and his relationship with Alexandra Court (a South African citizen, former corporate lawyer at Clifford Chance and who also did stints with UBS and Credit Suisse)
Ms. Court’s hiring and promotion has seemingly created power struggles within Guggenheim and in-fighting with its brilliant Chief Investment Officer Scott Minerd.
The current situation seems to be nothing new for Walter. He has previously clashed with founding partners including Morley, Curcio and Boehly – all of these individuals left Guggenheim with extremely generous (nine-digit) severance packages. More telling is that only six managing partners remain. New information is coming to light every day. It is no wonder that Ms. Court is trying to negotiate her departure and is reportedly asking for $100 million severance and a mansion.
Walter has his allies – ABS Capital Company (an offshore company and owner of Walter’s Malibu estate); a number of Latin American sophisticated agents; and another blond female “Caroline” working now at Guggenheim. Do these allies recognize that their reputations and jobs are on the line with the investigation and questioning of the origins of the dollars through the sophisticated insurance structures.
The latest theory is that Walter will walk out. Looks like it could be a larger blow than we actually think. Do not blink or you will miss something.
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