HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day
Introduction
On March 11, 2024, House Building Finance Company (HBFC) partnered with KE to celebrate International Women’s Day and promote the ‘Ghar for Her’ initiative, aimed at empowering women through homeownership.
The event, hosted by KE, honored the achievements and resilience of its female employees while also offering valuable guidance on securing home finance. HBFC representatives took the opportunity to engage with KE’s female staff, providing insights on the loan application process and educating them about the benefits of homeownership.
With over 70 years of experience, HBFC is Pakistan’s leading housing finance institution, with a strong focus on increasing financial inclusion for women. According to Mr. Faisal Murad, HBFC’s Group Head of Business, homeownership is a crucial step in empowering women, as it strengthens their financial security.
He emphasized the challenges women face when trying to navigate the home loan process, which is why initiatives like ‘Ghar for Her’ are so important in providing them with the necessary support. Ms. Sadia Dada, KE’s Chief Marketing and Communication Officer, echoed this sentiment, calling for more collaborative efforts between KE and HBFC.
She highlighted the importance of breaking down barriers around women’s homeownership and raising awareness about accessible financing options to help women take control of their futures.
HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day
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| Initiative | International Women’s Day | Women’s Day |
|---|---|---|
| HBFC’s ‘Ghar for Her’ | Yes | Yes |
| Collaboration between HBFC and KE | Yes | Yes |
| Engagement with female employees at KE | Yes | Yes |
| Home finance guidance | No | Yes |
| Promotion of financial inclusion for women | No | Yes |
| Empowerment through homeownership | No | Yes |
| Breaking myths around women’s homeownership | No | Yes |
| Raising awareness on ease of financing options | No | Yes |
| HBFC’s role as a housing finance institution | No | No |
| KE’s role in celebrating women’s achievements | Yes | Yes |
“HBFC’s ‘Ghar for Her’ initiative”. This initiative, specifically designed to empower women through homeownership, is highlighted as a key focus of the event and is central to the collaboration between HBFC and KE. It appears to be a relatively recent development, aiming to financially include and support women in securing homes.
1. Introduction
- Overview of Pakistan’s Housing Landscape
2. The Journey of Women Achieving Home Ownership
- See How These Women Have Fulfilled Their Dream of Home Ownership
3. Understanding Pakistan’s Housing Crisis
- Key Statistics on the Housing Shortage
- HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day 2
4. The Economics of Home Construction in Pakistan
- Average Construction Costs of Standard Homes
- Estimated Cost of Construction for Climate-Smart Low-Income Housing (2022)
- HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day 2
5. Innovations in Housing: EDGE Certification
- Excellence in Design for Greater Efficiencies (EDGE) Certification Levels and Requirements
- Why EDGE? A Look into the Benefits
6. Key Stakeholders in Housing Projects
- Identifying the Project Stakeholders in Pakistan’s Housing Sector
7. Government and Financing Initiatives for Housing
- MPMG Scheme Tiers
- MPMG Financing Tiers and How They Work
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8. Conclusion
- Addressing Challenges and Looking Forward to Sustainable Solutions
Explore how women in Pakistan are achieving homeownership, insights into the country’s housing crisis, and the role of innovative construction solutions like EDGE certification. Learn about housing costs, project stakeholders, and government financing initiatives shaping the future of affordable, climate-smart housing.
Empowering Women Through Homeownership: A Focus on HBFC’s ‘Ghar for Her’ Initiative
1. Introduction: Overview of Pakistan’s Housing Landscape
Pakistan’s housing sector is grappling with significant challenges, particularly in providing affordable and accessible housing solutions. The rising demand for housing, paired with limited supply, has created a housing crisis that leaves many, especially women, excluded from owning homes. However, initiatives like HBFC’s ‘Ghar for Her’ offer a promising solution by empowering women to navigate the complexities of homeownership and secure financial independence.
HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day
2. The Journey of Women Achieving Home Ownership
In Pakistan, owning a home has traditionally been a male-dominated domain, with women often facing barriers in accessing finance and understanding the loan application process. Through the ‘Ghar for Her’ initiative, women are provided with essential guidance and support to break these barriers, allowing them to embark on their journey of homeownership. From overcoming societal challenges to securing loans, many women are now fulfilling their dreams of owning homes, thanks to initiatives like this one.
3. Understanding Pakistan’s Housing Crisis
Pakistan’s housing crisis is fueled by a large gap between supply and demand. The country’s population continues to grow, with urbanization trends adding pressure on the housing market. Key statistics reveal that Pakistan faces a shortage of over 10 million housing units, with millions more struggling to secure affordable housing. This shortage disproportionately affects women, who often lack access to financing options and face social barriers in property ownership.
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4. The Economics of Home Construction in Pakistan
Constructing homes in Pakistan presents several challenges, particularly in the face of rising costs for construction materials and labor. The average cost of building a standard home is escalating, making it even harder for low- and middle-income families, especially women, to afford their own homes. Moreover, the cost of climate-smart housing options, designed to withstand extreme weather conditions and minimize environmental impact, is still relatively high. Nevertheless, the growing demand for these homes indicates a shift towards more sustainable and affordable building practices.
HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day
5. Innovations in Housing: EDGE Certification
The Excellence in Design for Greater Efficiencies (EDGE) certification is an innovative tool aimed at promoting sustainability in home construction. EDGE-certified homes meet certain environmental criteria, such as energy efficiency and water conservation, making them more affordable and eco-friendly in the long run. These homes are particularly valuable for low-income families and women, as they offer a cost-effective solution that addresses the country’s housing needs while also promoting environmental sustainability.
Why EDGE? A Look into the Benefits
EDGE certification benefits include reduced utility bills, better environmental outcomes, and the potential for government incentives. For women, these homes present an opportunity to access affordable, long-term housing solutions that also contribute to financial stability and a reduced cost of living.
6. Key Stakeholders in Housing Projects
Successful housing projects in Pakistan require collaboration among multiple stakeholders, including the government, developers, financial institutions, and non-governmental organizations (NGOs). These stakeholders work together to design, fund, and construct housing that meets the needs of low-income populations, including women. Partnerships between institutions like HBFC and private sector companies like KE are key in advancing the agenda of affordable housing and financial inclusion.
7. Government and Financing Initiatives for Housing
The government of Pakistan has launched several initiatives to address the housing crisis, including the MPMG (Mortgage and Property Management Guarantee) Scheme. This scheme provides financing options for first-time homebuyers, especially targeting low-income families and women. The MPMG scheme offers multiple tiers of financing, each designed to cater to different income levels, making homeownership more accessible for women across the country.
MPMG Financing Tiers and How They Work
The MPMG scheme offers varying levels of support, from low-interest loans to subsidized financing, making it easier for women to access the necessary resources to purchase their homes. These initiatives are critical in helping women overcome the financial barriers that have traditionally hindered their ability to own property.
8. Conclusion: Addressing Challenges and Looking Forward to Sustainable Solutions
The path toward homeownership for women in Pakistan is challenging, but initiatives like HBFC’s ‘Ghar for Her’ offer a beacon of hope. By addressing the barriers women face in accessing finance, providing education on homeownership, and promoting sustainable building solutions, these initiatives are empowering women and helping them secure a better future. As the housing sector continues to evolve, the key to success lies in collaboration between the government, financial institutions, and private sector partners to provide affordable and sustainable housing solutions for all.
HBFC & KE Collaborate to Promote ‘Ghar for Her’ Initiative on International Women’s Day
Looking ahead, there is hope that Pakistan’s housing landscape will become more inclusive, with greater support for women seeking to own homes and financial security. The ‘Ghar for Her’ initiative stands as a powerful example of how targeted efforts can make a significant difference in empowering women and reshaping the housing sector.