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Impact of forign remitance on Property,

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   AHMAD HASSAN®
Thursday, August 4, 2016 05:13 AM 
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Hard time for Pakistanies in KSA. The largest source of Pakistan remitance is from KSA, last year it was $5.6b. The best industry for overseas Pakistanies is Property & if recession continues (Allah Kareem) that will not be good for Pakistan reserves as well as property.
User_12596® replied on Thursday, August 4, 2016 05:45 AM 

i am also living in ksa, But due to recession in construction industry i am planning to go back Pakistan.Our company staff reduced from 5500 to 700. Worst condition. People moving form KSA, Even there is very less traffic in riyadh on roads as compare to last year, Road bhi sunsan ho gay hain,
Arif M® replied on Thursday, August 4, 2016 09:16 AM 

All expats living in KSA are being affected. People have not got salaries for last 4-5 months. Tough times. Indian and Pakistani govt have recently initiated a process to give food to their nationals living in KSA.

Pakistan depends most on KSA for remittances. Considering the situation in KSA i expect a considerable drop in remittances to Pakistan. Which ultimately affect real estate market as well. Lets pray that conditions get better in KSA so our brothers get their salaries.
UAE resident replied on Friday, August 5, 2016 08:36 AM 

Conditions are almost the same in UAE like KSA, there is a trickling down effect on all the sectors due to deteriorated oil prices. Companies are releasing expat employees like any thing which will ultimately effect the remittances to Pakistan as well.
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