In Pakistan, high-rise building construction has seen an increase in demand as the population has grown. This has boosted the real estate market, especially in the urban areas. Recent initiatives of the Government have also boosted the sector. However, the sector is not without challenges. For those looking to invest in this sector, here are a few things to keep in mind.
Demand for high-rise buildings
There are a number of reasons for the growing demand for high-rise buildings in Pakistan. One of them is the rapid growth of the population. This has forced developers to focus on higher-rise buildings in order to meet the growing need for space. Another factor is the scarcity of land for sale. Moreover, the government restricts the horizontal expansion of metropolises.
Demand for affordable housing is a primary motivating factor for the construction of high-rise buildings in Pakistan. Currently, real estate prices in the poshest neighborhoods of Karachi are about half the cost of those in upmarket parts of Islamabad. This is because Islamabad has not yet implemented high-rise apartment living. There are, however, some apartment buildings branded as luxury residences for the upper crust. Until now, the housing market in Islamabad has been stagnant because everyone has been excluded from it.
The government is now looking to increase the number of high-rise buildings in the country. It has enacted new building ordinances for the Markaz region, which is a hub for small businesses. These new ordinances will allow for more space for high-rises and will also make land cheaper to develop.
Impact of Chinese immigrants on real estate market
The increasing number of Chinese immigrants in Pakistan is affecting the real estate market in many ways. For example, a residential society that was built with the help of Chinese engineers has an increased value, and a trade route between China and Pakistan has increased the need for proper road infrastructure. This will affect the value of nearby places, and this in turn will affect the real estate market.
In the early 2000s, two brothers had established a number of businesses, including an Alibaba-like e-commerce website, an air filter distribution company, and a small gym. They also started an online real estate service called Zameen, which was part of their Zameen group. In 2006, the brothers set up Zameen, a service that would match buyers and sellers. They had spent years developing their businesses, and their online businesses were a natural extension.
This has boosted the country’s real estate industry and attracted investors from all over the world. As a result, there have been an increase in the number of real estate projects and prices. The CPEC project has also improved the economic condition of the country and will continue to drive real estate prices in the country. As the economic situation improves, more Chinese will move to Pakistan and invest in the real estate market.
Government initiatives that have contributed to the growth of the sector
The growth of real estates in Pakistan is an important aspect for a country that faces housing shortage. Moreover, the sector offers a huge number of employment opportunities for the youth. It also contributes to the economic development of a country and is crucial for its future. Some government initiatives have also contributed to the growth of real estates in Pakistan, such as tourism and CPEC. However, the sector still faces a few challenges that need to be resolved in order to make it a better place for all.
A significant boost for the construction sector has been provided by the China Pakistan Economic Corridor (CPEC). The initiative includes infrastructure projects like power plants and dams. Meanwhile, the Government is continuing its efforts to improve the business environment by implementing unprecedented reforms and incentives. These initiatives include the amendment of the Income Tax Ordinance to declare the construction sector as an industrial undertaking. This will help the sector to benefit from various tax incentives.
The Prime Minister also welcomed the initiatives of Metro Germany, which have contributed to the growth of real estates. These companies are also a source of tax revenue for the government. Moreover, the Government is trying to maintain the optimum level of foreign exchange reserves, exchange rate stability, and inflation control. Therefore, it is essential to reduce the import of unnecessary goods and services.
Challenges to investing in the sector
There are several challenges in investing in the booming real estate sector in the country, and these issues are affecting key stakeholders. These challenges can cause delays in the completion of real estate projects, and deter investors from considering these opportunities. Hence, it is important to establish trust between investors and real estate development companies in Pakistan.
First of all, there is the risk of real estate scams. There are some fraudulent companies operating in Pakistan and many of them are intent on defrauding innocent people. There are several steps you can take to reduce the risk of fraud. One of them is to check with the local development authority, and make sure to do your own research.
Second, there are numerous regulations that need to be implemented and adhered to. Those who fail to adhere to these regulations will have to bear the consequences. It is vital to understand the rules and regulations that govern real estate in Pakistan.
Is Kingdom Valley and Blue World City a Good Investment?
If you are thinking about buying property in Kingdom Valley or Blue World City, you have plenty of choices. You can choose the location, price, and payment plan that suits your needs. Read on to learn more. Then decide if it is a good investment or not. After all, your second home should be a place where you can unwind after a hard day’s work.
Overseas Block in Blue World City and Kingdom Valley is a gated community and offers a premium lifestyle and affordable payment plans. The development has been built according to international standards and offers a huge return on investment. The development offers a mosque and green areas. It is also close to the major landmarks of the twin cities.
The Overseas Block will have a dedicated entrance and direct access from Chakri Road. It is already attracting attention from both local and foreign investors. In fact, the Overseas Block in Kingdom Valley and Blue World City is set to become a premier investment hub.
Location of real estate
Blue World City is located in Islamabad, adjacent to Kingdom Valley. It offers a variety of residential and commercial options that cater to the diverse needs of consumers. The project is being developed in phases and offers a wide range of affordable plots for sale. The developer has also provided the option of installment plans, with three, four, and five years of installments starting from 10% down payment.
The Blue World City and Kingdom Valley are upcoming projects that offer excellent residential opportunities to prospective buyers. Both are located close to the M2 motorway and are being built with innovative features. If it is built according to plans, Blue World City will be one of the most luxurious housing societies in Pakistan. Both projects have affordable plot rates and offer a variety of housing options, from studio apartments to multi-bedroom homes.
Kingdom Valley and Blue World City offer a payment plan that offers up to eight bi-annual installments and 40 monthly payments, spread out over a four-year period. You can choose your plot size and pay a down payment based on it. Payment plan prices range from PKR 1,340,000 to PKR 3,200,000.
This modern housing society is located in a prime location near the New Islamabad Airport. It offers affordable apartments as well as luxurious farmhouses. The payment plan is flexible and offers you a chance to build your dream home. It is divided into several blocks, including Blue World Orbital Apartments and the Awami Residential Complex.
If you are a first-time home buyer, this payment plan offers you a flexible payment plan for a home. Because of the high-quality construction, you will be able to get a home within your budget. The cost for a house in the Kingdom Valley Islamabad community is relatively low compared to other new housing projects in the region. With a flexible payment plan, you can easily buy a home and enjoy the peace of mind that comes with owning it.
Kingdom valley and blue world city is developing rapidly. The residential venture provides high-end lifestyles with world-class amenities and is near the Islamabad International Airport. The tallest horse construction has already been completed, with blue and green lights illuminating it. In addition, the overseas block gate is already available, giving residents a sense of security. Construction of the forces school’s flagship school has also been completed, and plans for the development of the business square and sports arena are also under consideration.
The development of these twin cities aims to offer basic and advanced facilities 24 hours a day. Several payment plans are available for investors, allowing them to own plots in three to four years. Possession of plots in phase one of the society will be granted to the investors after the development work is complete.