Ace Developers (Pvt.) Ltd., has been incorporated on 9th October, 2003 with an authorized capital of Rs.50 Million, so far paid up capital is Rs.10 Millions which will be enhanced to at least Rs. 20 million by end of December, 2004.The company has been incorporated to take up real estate development projects of all nature. The first project identified by the board of directors of the company is to develop a housing project containing over 259 houses near Wapda Town, Lahore.
Agreements of sale for the proposed land have been signed and it is expected that the project is going to commence by January, 2004.
There is an acute shortage of houses in Lahore so there should be no problem to sell this project. The company is further looking for similar sites to take up similar projects.