INVESTMENT IN HIGH-RISE DEVELOPMENTS – THE NEW BIG THING IN PAKISTAN REAL ESTATE

High-rise and mid-rise developments are now dominating the skyline of the metropolitan cities in Pakistan. A country where detached houses were once considered a sign of prestige is now witnessing a major real estate investment shift from houses to high-rise buildings.

The increasing popularity of commercial skyscrapers and luxury apartments is one of the most significant drivers of this change. Over the past decade, the number of residential and mixed-use buildings being constructed in densely populated areas of metropolitan cities has seen a sharp increase. These developments not only come with a striking façade but also offer state-of-the-art facilities and amenities that meet international standards.

There are various reasons behind the increasing demand for mid-rise and high-rise buildings in Pakistan. The first reason is the rapid population growth in urban areas which has forced the developers and real estate companies to focus upwards. The scarcity of land for sale in Pakistan and the consequent rise in its prices are also two of the key factors behind this real estate investment shift.

Another major reason behind this investment shift is the restrictions imposed by the government on the horizontal expansion of metropolises to prevent them from becoming suburban sprawls.

Rising Demand for Apartments and Mixed-use Developments in Pakistan

The popularity of mid-rise and high-rise buildings in Pakistan has caught the attention of many real estate developers. Currently, around 15 percent of the mixed-use and residential projects in metropolises feature plots for sale. The remaining 85 percent encompasses high-end apartments and mixed use developments. The Terraces Residences in Bahria Town Islamabad is one of the prime examples of such developments in Pakistan.

The ultramodern project of The Terraces Hotel located in The Garden City is also a brilliant mixed-use development that deserves to be mentioned here. Situated in the heart of nature, this 4-star luxury hotel boasts 108 suites and is furnished to the highest degree to provide visitors with the warmth and comfort of home away from home.

EFFECTS OF INCREASE IN REAL ESTATE INVESTMENT IN HIGH-RISE DEVELOPMENTS

The rising popularity of mid-rise and high-rise developments is directly related to the increase in construction activities. This trend is expected to generate more employment opportunities which, in turn, would lead to economic growth of the country.

Furthermore, the development of mid-rise and high-rise buildings is an efficient way to urbanize using a smaller land area. Horizontal expansion can turn cities into urban sprawls, which mostly leads to the loss of agricultural land, damaging the environment and threatening the natural resources. Vertical expansion, on the other hand, reduces these issues by a considerable margin.

Another positive impact of this type of real estate investment is it allows the investors to score good capital gains and also enjoy rental yields with it – a benefit that is not offered by plots.

The construction of mixed-use and residential high-rise projects in metropolises will largely benefit the real estate sector of Pakistan while simultaneously enabling investors to grow their wealth by investing in affordable units in their preferred project and area.

Leave a Reply