May 22: Nepal Housing and Land Developers Association has announced to organise the 7th NLHDA Property Expo 2018 at Bhrikuti Mandap in Kathmandu from June 15-19. The annual NLHDA Property Expo 2018 is organized by Nepal Housing and Land Developers Association, which is the apex industry body representing housing and land developers in Nepal.
The NLHDA Property Expo 2018 is a one-stop solution to the entire eco-system of the housing and land development sector of Nepal. While the core focus of the expo is on the real estate market and home buyers in Nepal, the event will cover the entire gamut of housing sector such as commercial and business property, architecture, construction, building, engineering, habitat environment among others, the organiser said in a statement.
According to NLHDA, the property expo is being organised in recognition of the tremendous growth in the housing market and its dominant role in the Nepalese economy.
"Housing is also a fundamental socio-civic issue that has critical ramifications in politics and economy of Nepal. Real estate which includes residential homes, commercial properties, and farms is the largest component of the wealth of individual investors. Investment in housing accounts for 15-35 percent of aggregate investment. It is estimated that more than Rs 400 billion is now invested in real estate," reads the statement.
The organiser claimed that the housing market has been rebounding and has held steady growth ever since the 2015 earthquake.
"Housing being a basic need for people, the perception of housing as a sound investment and the fast urbanization driven by rural migration to cities have all contributed to the organic growth of the housing and construction sector. Industry experts agree that Kathmandu valley accounts for 42 percent of the organized real estate sector and that the present annual national demand for houses and apartments is around 140,000 units, whereas Nepal is only able to construct 25,000 units per year. The real estate sector is recently thriving on around 200 percent growth despite the steep rise in land prices, which has been increasing at 40 to 50 percent and in housing construction, which has been increasing by 20 to 30 percent annually," the statement further said.
NLHDA said that the mushrooming housing market has presented tremendous opportunities to the industry which in turn are also overwhelming and complex challenges. According to NLHDA, urbanization is growing at a rapid rate of almost 39 percent, increasing the number of municipalities from 58 in 2011 to 217 to 2016. By 2023, 900,000 new constructions will be required to meet the demand for 1,364,000 homes nationally. Thus, it is against this socio-economic backdrop that NLHD Property Expo hopes to facilitate investment, production and transactions in the housing sector through interactions and networking so those opportunities can be consummated and the challenges met in the years to come.
The NLHDA Property Expo will host about 150 exhibitors covering an exhibition area of about 6000 sq meters both indoors and outdoors. Notable exhibits and exhibitors include commercial and building premises, interior design services, engineering firms, building and landscape architect firms, real estate agents, property developers and builder, building material suppliers and distributors, construction tools and equipment producers and dealers, banks and financial institutions, furniture and furnishings, ceramics, glass, wood, stone, sanitary ware, iron and steel, cement, lighting and electrical fixtures, paints, solar energy and waste management.
