Thursday, September 9, 2010


How Pakistan has managed to take a bite out of the Giga’s in the not so real estate world!

In history when I was a boy in Karachi Grammar School I had a fantastic book with exceptional illustrations that showed me graphically about all the land wars in the world. As I matured and was able to think for my self I realized that men had fought vigorously to conquer new land or that religion was a war cry or if anything else was to be the root cause of a decade long war even up until the time of the Nazis and the Russian invasion of Afghanistan the maybe a woman was the reason that one had to fed vanity if not looking for a warm water port etc.

In Pakistan the average consumer or investor looks for property to invest in as long as the papers are clean as that is something that one feels will appreciate. The next thing that ones buys as a cash asset is a vehicle so Toyota and Honda become the preferred choice. No longer is this true as today if you want to dupe someone all you have to do is sell them a file and they will probably not even realize if they going to be pounding sand or be facing an onslaught of court cases depicting fraudulent practices…

As we jailed al capone and stopped the world from worrying about prostitution, gambling and gun running we gave birth to another Mafioso who was much more crueler, meaner and ruthless… it is the Land Mafia… These mafias do not respect the honor amongst thieves and are basically a disorganized army of termites that have eaten away at the only one thing that us Pakistani’s could have invested in.

Sadly our foreign investors have been duped by these knock off wearing, cheap tie brandishing crusaders who have managed to even give the state bank of our country a run for its already in debt economy… I would like to talk about a family that hails from the United Arab Emirates. The Giga Family. The Emirati Giga family is a conservative, hard working family that has a moderate view point of Islam and is open to the development of life… Its two main companies which failed miserably in the UAE known as Al Ghurair & Emaar have been the victim of a bubble bursting that was beyond its control. This family with exceptionally honest values and a strong CSR policy decided to shift its focus to trust in developing in our country.

When the Giga’s came to Pakistan they made one promise to themselves. To actually try to invest in this country by alleviating a frustrated lifestyle with the replacement of community living styled homes. (please note Homes and not houses or apartments) if the intent was pure and they do give in billions in zakat then how could these two projects in our country fail miserably… lets take a look at the Pakistani not so real estate world…

Every camel jockey worshipping no gooder applied for the job and once hired refused to anything of any substance to prove their efficiency. We are experts at hiding the truth and today after months we have managed to break the bank of a family that managed to trust us as a nation. We managed to use politics to get the management changed several times we did what we had to in the form of fruitless events and pr activities but not focus on the key issues and we als managed to bribe the existing management her and blind them to the obvious crux issues.

I personally met with their new custodian and till this date almost three months today I realize how miserable he must be… Our nation has managed to dupe him with the fact that they keep on having him fire fight idiotic issues here and have him under the premonition that his bosses dirhams will resolve all the issues… it is very sad that such a brilliant group with such a fantastic ethos could have been duped by an army of illiterate fools. Today there is a strong saying… Never trust a car dealer or a property dealer. I guess this goes true as we all give in to the pressures and delusions of the real estate worlds sins. IF you would like to note an interesting fact that the shelf life of a custodian (foreigner) in Pakistan is only at an average of 12- 14 months… I am counting down the days when this custodian will leave the country after wanting to quit his other bad habits which im sure he will adopt soon known as Prozac or lithium or even both.

When will the Giga’s open their eyes and know that honesty must be the crux issues in choosing the right people for the right job – reverse the process and you can destroy an entire nation… My sympathies to all those who have lost interest in this wonderful concept and I giggle at the fact as to how blinded people become and hunt downa quick fix solution when the answer is before them…
On an ending note my question to you is has your sales department become the collections agency for your payments on what you don’t want to invest in any more? Why did this happen what was the cause? Let me know!A

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