imarat group pakistan

Written by Paradigm Shift 9:19 pm Pakistan Unveiled

IMARAT Group Produces Pakistan’s First Unicorn

It seems like the continuous hard work and dedication of the IMARAT Group of Companies is only pushing the company to greater heights. The Group, which has been receiving the ICCI Presidential Awards consecutively during the last three years, has now achieved another massive milestone. Graana.com, a company under the IMARAT Group, is reportedly Pakistan’s smartest property portal. It has become the country’s first homegrown unicorn. That means that the company has reached an investor valuation of $1 billion USD!
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Airlift – which was very close to getting the title of the country’s first unicorn – imploded before it could achieve the landmark. A unicorn (in the business world), is a company that reaches a coveted investor valuation of $1 billion. However, Graana.com of IMARAT Group has achieved the improbable, and has become the first homegrown unicorn of Pakistan!

As of this year, there are currently only 554 unicorns globally. Moreover, there is only a 0.00006% chance for companies to meet the requirement. Talking about the achievement, CEO & Chairman of the IMARAT Group of Companies, Shafiq Akbar said, “This is a proud moment for not only Graana.com and IMARAT Group, but the entire country”,

“Whenever a country progresses, there is always a plan behind it which harmonizes the resources available and the future need. This is prevalent in every aspect of life. Similarly, for the growth of Pakistan, it is very important to charter out plans for its economic development, and real estate takes a centre stage in that endeavor,” he added.

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Graana.com, Agency 21, Propsure, and IMARAT Developments & Hospitality – all fall under the umbrella of the IMARAT Group of Companies. The Group (and the companies in it) has been making rounds on the internet and in the business community for its successful ventures – and seems like the upward trajectory will only be going higher from here.

The Group received the Islamabad Chamber of Commerce and Industry (ICCI) Presidential Award – for the third year in a row last year – for being the fastest-growing company. The ICCI awards aim to encourage strong players in different industries, to create a better business environment for all. Dr. Arif Alvi presented the award to Mr. Shafiq Akbar, and Mr. Akbar expressed how the awards are constantly reinforcing the Group’s commitment to “excellence, innovation, and an uncompromising client-first mindset”.

The Group has established several brands to achieve its goal of digital transformation in Pakistan. Graana.com, for example, is one of Pakistan’s smartest property portals (if not the smartest!). Agency 21, another one of the companies under the group, is Pakistan’s largest estate agency network.

Propsure is Pakistan’s first platform that is working towards digitising Pakistan’s planned areas, and is creating a data repository of real estate assets. The company’s diverse portfolio comprises of 17 real estate projects – covering a total area of ten million square feet.

IMARAT Group is also working with the education sector on the first-of-its-kind real estate certification program in Pakistan – and has already partnered with NUST, PIDE, and UCP to achieve their goal. Alongside the many development projects, it is working towards setting up a Special Economic Zone in the country, which will exclusively operate for construction materials and household products.

In the wake of the current economic crisis that has Pakistan hanging on by a thread, unemployment is rising almost every day. In the face of such unpredictable circumstances, the Group has created 2000 jobs (in the last six years).

IMARAT Group has offices in over seventy locations across Pakistan and has also set up offices internationally (in countries like Dubai, Canada, and the UK). They are now all set to establish over a hundred franchise offices under the ambit of Agency21, and that will hopefully create over 1000 jobs in the near future.

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The views and opinions expressed in this article/paper are the author’s own and do not necessarily reflect the editorial position of Paradigm Shift.

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