KARACHI: State Bank of Pakistan signed a memorandum of understanding with Zameen.com for utilizing data about real sector. Under the MoU, Zameen. com will provide data on the prices and rental costs of residential and commercial properties in the country’s metropolitan areas, said SBP statement on Tuesday. This data will subsequently be used by SBP to analyze house prices, develop related indices and use the information in its publications, working papers and reports. The ggregate house price and rental indices will also be available on SBPs data portal – Easydata for the last four years. On the signing of this MoU, SBP’s Deputy Governor (Policy) Dr. Murtaza Syed expressed his pleasure and opined that real-estate sector was under research in Pakistan due to a number of factors including paucity of available data. He said that in the absence of dependable information on price trends in the real sector, the understanding on households’ asset allocation decisions become difficult. He hoped that the MoU between the two entities would greatly help to fill these gaps. DNA
Chief Executive Officer of Zameen.com, Zeeshan Ali Khan said that he was delighted to have entered a partnership with the SBP to provide invaluable data to help it make informed decisions and draft effective policies. He further said that this engagement with the Central Bank was a testament to the usefulness of the work done by Zameen.com in digitizing and transforming the country’s real estate industry.
