Pakistan may be going through turmoil, what with the new levels of inflation being experienced by the masses, but amidst this chaos, the real estate industry of Pakistan is thriving. How? There is a boom in construction and activities of development.
Pakistan is witnessing a rise in investments in house construction and property trading i.e. buying and selling. Investments, that are not only local but foreign investors as well, are pouring in and driving the construction of new homes in Pakistan’s big metropolitan cities. Several housing schemes are making their way into the market and the opportunities are too good to ignore.
If you are looking to take your bet and invest in the growing construction and development business, then we suggest that you focus on the following three cities that are the current hub of big opportunities when it comes to real estate.
Islamabad, the capital city of Pakistan and one of the cities which is frequently termed a ‘foreign’ city. With the city’s clean, luxurious, impeccable, and ‘foreign’\ aura, it is no surprise that investors are interested in funding housing projects in Islamabad there.
Hence, new construction in Islamabad is booming and is at its peak. The place is a people’s magnet with many wanting to have their part in the comfortable life of Islamabad. And the real estate industry is making sure they take advantage of the opportunity.
The most prominent developers of residential property in Pakistan are none other than Bahria Town and DHA or the Defence Housing Authority. Along with these two famous names, foreign investors like Emaar Properties also show their interest in this wonderful city. And these developers have swept away Islamabad as well.
Even though it is true that Islamabad is the most expensive city of Pakistan with the highest median of house prices, however, this has not dampened the spirits of developers or investors when it comes to home construction in Islamabad.
Therefore, the DHA and Bahria Town housing projects in Islamabad look promising and are confident to establish their projects in a set time.
The year 2005 was a grave year for the real estate industry as the housing market nothing but collapsed. However, Lahore has always had the potential for exponential growth and we are seeing this potential flourish as modern development takes solace in the city.
With many developmental changes taking place in the city in terms of infrastructure especially, one of cities is attracting some of the biggest construction projects in Pakistan. House construction is currently a booming and thriving sector in Lahore with the growth in housing schemes as well as residential areas. In Lahore, the advantages of the prospering housing market are reaped by both small-scale and big developers like Bahria Town and DHA. While the former focus on a rental property mainly, the latter big developers aim to leave a mark with revolutionary housing projects.
What is fueling the construction of new housing and residential projects in Karachi is the city’s growing population. Therefore, despite a chaotic system of law and order and a constantly unstable finance situation, developmental projects are booming and on the rise.
Developers like Bahria Town have cleverly chosen to form gated housing schemes on the outskirts of Karachi, far away from all the chaotic and unstable action of the city. Moreover, Middle eastern developers such as Damac are investing to give this city of lights its very own skyline.
The housing construction in Karachi differs based on the area. For instance, southern Karachi comprises high-end societies where the biggest and most luxurious projects can take place. Central Karachi sees mainly housing projects involving high-rise buildings to accommodate the growing population.
To conclude, Karachi, despite its poor law and order situation, is booming when it comes to home construction and residential projects. We can only imagine the leaps that the city will take in this regard if the law and order situation and living conditions improve.
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