Real Estate Giants Successful in Pakistan

Undoubtedly a wonderful community being developed by one of the world's most renowned developers Emaar Properties. The crafters of the most beautiful master piece created and the symbol of the UAE, Burj Dubai is the tallest building ever made in the history of mankind. Following its quality path Emaar has now entered the Pakistani market with a passion to provide the worthies of Pakistan with another master piece in shape of Crescent Bay, Karachi. 108 Acres of reclaimed land in the sea is a great architectural intervention done by Emaar Giga Karachi Ltd. Simultaneously Islamabad is being gifted by another master piece of Emaar DHA Islamabad Ltd. The Alma Townhomes and Mirador Villas at Canyon views are setting the benchmark for other developers to bring the standards up to the mark of international level. Emaar is involved in its untiring efforts to create a community having all in it, whatever a Pakistani demands for. Townhomes in shape of duplex, fourplex and sixplex and Mirador villas in one kanal and two kanal options are ideal for Pakistani style of living. Emaar having its reputation of developing a community rather than developing a piece of land is launching one of the most waited large Mix Use commercial complex, Size of which can guessed by calculating the space occupied by four (4) cinema screens included in that Mega project.

Another great success story is the residential, commercial and corporate mix use commercial being developed in the heart of Islamabad, Pakistan called The Centaurus. The project is mainly sponsored by GCC’s one of the biggest investors The TAMIMI Group and being managed by a local developer with a venture named as Pak-Gulf Construction company. The construction being done by the largest Chinese Construction company and designed by the company having some exclusive master pieces to its credit such as Burj Ul Arab(Symbol of Arab) The Atkins. Project is located in the centre of Islamabad where this is the only allotment of plot been done by Capital Development Authority (CDA), Islamabad. Project’s worth is approximately 60 Billion Rupees out of which the cost of land is around 6 Billion Rupees. The project has been completed at a structure level with 27 storeys of two residential buildings and one corporate tower. The five start hotel in contract with The Hilton is yet to be started after the piling work.

Project is certainly the main attraction for elite of Pakistan living at home or overseas. The clientele comprises of celebrity stars, business community and well known personalities of Pakistan. Project seems to be a great success as most of the residential parts have already been booked and sold out. The method adapted for booking the properties is very much familiar to the method adapted by Emaar Properties in Pakistan, which is to appoint some exclusive agents as the authorized real estate sales consultants for selling the properties.

These projects have become the identity of Pakistan and are bringing the foreign direct investment in Pakistan. These success stories are the benchmark for other real estate developers who are considering to start their operations in Pakistan but are having the reservations regarding the security situation. But if we talk about business, debt-crisis is even worse than terrorism. So in terms of investing in real estate, Pakistan seems to be more lucrative than US, Europe and GCC, who are currently facing worse situation in shape of their financial crisis, which has not affected Pakistan a bit.

Author of this article is M.Mubusher Hayat, who is the CEO of one of Pakistan's real estate consultancy firm Earthlink Consultants. At Earthlink properties of Emaar Pakistan and The Centaurus are dealt as Earthlink Consultant's is one of the authorized firm to manage the properties of these large scale real estate developers.

M.Mubusher Hayat, CEO
Earthlink Consultants
Islamabad, Pakistan
E: mubusher@gmail.com
w: www.earthlink.com.pk