Leading Pakistani real estate portal Zameen has signed a memorandum of understanding with the State Bank of Pakistan (SBP).
The deal will see the company provide real estate sales and rental price data for the state institution to analyse and use in its own publications. This will include SBP's own public-facing data site Easydata where Zameen's data on housing in Pakistan over the last four years will be available.
According to the SBP's Deputy Governor of Policy, Dr. Murtaza Syed, the real estate sector in Pakistan is under-researched specifically because of the paucity of available data. Zameen's own research shows that Pakistan needs as many as 10 million new housing units to bridge the country's housing deficit.
The news is significant as it is perhaps the clearest example yet of a real estate portal becoming the de-facto source of truth in a country's real estate market. Something that OnlineMarketplaces.com contributor, Georg Chmiel wrote about in 2020.
"What is notable is that today we finally have an alternative source of data from an economic player that is timely, comprehensive, and precise. That new source of data is real estate portals." Georg Chmiel - Portals Are The New Real Estate Data Companies
Zameen (jointly owned by EMPG and Frontier Digital Ventures) is the clear market leader in Pakistan according to traffic stats from Similarweb and generated $40 million in revenue in 2021.