10 Muharram 1446 - 16 July 2024
Sign up for newsletter
Eye of Riyadh
Business & Money | Wednesday 7 December, 2022 2:04 pm |

Enterprise blockchain-led Shaariq.com signs an exclusive MoU with Saif Group for the landmark ‘Crown of Pakistan’ real estate project

Shaariq.com, an end-to-end real estate platform of Dubai-based Vision Tech, has bagged an exclusive brokerage mandate for Saif Group-owned JK&S Developers’ D.I. Khan New City, which will epitomize advanced implementation of enterprise blockchain and associated technologies


Shaariq.com, an end-to-end real estate platform of Vision Tech, a UAE-based tech company, today announced the signing of an exclusive MoU with Pakistan-headquartered JK&S Developers, a real estate arm of the renowned Saif Group. The agreement will see Shaariq.com facilitate sales in JK&S Developers’ highly anticipated project D.I. Khan New City. Shaariq.com will leverage its enterprise blockchain capabilities to ensure secure, transparent, and seamless transactions. 


Dubbed the “Crown of Pakistan”, the D.I. Khan New City is a hybrid development in Saiduwali, Paharpur, an area with close proximity to Punjab, Khyber Pakhtunkhwa, Islamabad, and Balochistan. The development, which spans an expansive area of 4.1 million sq. m, is valued at a whopping $233 million U.S., making it one of the most ambitious projects of its kind in Pakistan. 


“Shaariq.com ventured into Pakistan with a grand vision: Enhancing transactional efficiency and reducing the trust deficit by leveraging cutting-edge technologies such as blockchain. D.I. Khan New City is the ideal avenue to turn that vision into reality. We are determined to make this project an archetype of Pakistan’s real estate excellence while reinforcing our competitive edge in tech-enabled services,” opined Rajab Ali Virani, CEO of Vision Tech. 


Rajab's optimism stems from the proposed plan of D.I. Khan New City. The gated community will include state-of-the-art healthcare and educational facilities, in addition to unique value propositions such as underground utilities, a safari park, a mall, an adventure complex, farmhouses, and a grand mosque. As a result, the hybrid project — a mix of residential and commercial projects — will have green, open spaces across 50% of the total area. The entire project will have round-the-clock security and surveillance, making it ideal for families and corporates alike. 


The involvement of Shaariq.com will see D.I. Khan New City become an early mover in adopting blockchain at an enterprise level. Shaariq.com will create a digital twin of the project in the metaverse to enable efficient urban planning and optimize the delivery of public services such as healthcare and groceries. NFT-linked transactions on the blockchain will bring greater security, transferability, and future readiness. D.I. Khan New City will also characterize AR-VR and AI applications on multiple fronts.


“The Saif Group has nearly a hundred years of multi-industrial pedigree in Pakistan. At every juncture, we have exemplified the latest innovations of the time. D.I. Khan New City is a totem of our future-proof strategy and a legacy of our people-centric worldview. The MoU with Shaariq.com complements both these priorities,” said Jehangir Saifullah Khan, Chairman, JK&S Developers. 


In an industry plagued by scams and low trust, the synergy between a renowned conglomerate and a tech-driven platform is a cause for celebration. It can not only bridge the existing digital divide but also pave the way for the rationalization of the real estate industry. Shaariq.com’s strategic partnership with a leading developer within a year after its entry into Pakistan reflects its disruptive potential and firmness of purpose. Vision Tech is planning an expansion into African countries, where, through Shaariq.com, it intends to digitalize land records with the support of local authorities. 


Post Your Comment