Commercial projects

Commercial projects in Gulberg Greens you should know about!

Islamabad has been introduced with a host of new and exciting projects. Of these, the new Gulberg Greens is a project that has quickly emerged to prominence and garnered a lot of attention from buyers and investors.

Why Gulberg Greens?
Much like Islamabad’s various sectors, this is a newly-built area with both commercial and residential property. Varied architectural designs and international-scope amenities are presented, ensuring a world-class lifestyle and a chance to live in the most luxurious neighbourhood of the capital.

Most of these projects have been designed to cater to the needs of high-end buyers and investors. With such rapid development, there seems to be something for everyone and all evidence shows that investing here can yield high returns in some years. The exact time for this can’t be determined as the markets are relatively stable and not recording any significant activity as of now. But in time, when the market is engaged with a large number of investors, this is where the activity will be most rapid.

What’s new?

The most prominent of these projects is Karakoram Greens and Gulberg Arena, whereas Samama Gulberg and Samama Star Mall & Residency offer some valuable options for a wide range of budgets. Some of these also offer an eclectic mix of commercial and residential property. Roshan Heights, Gulberg Emporium Mall & Residency and Diamond Mall & Residency are the hottest mixed-use projects one should be headed towards.

The architectural designs of each are unique, new, and the primary variable determining high revenues. You should know that because this is an entirely new area in Islamabad, the developers have done their best at ensuring the architectural designs and construction of their projects is out-class.

Gulberg Emporium Mall & Residency has a total of six floors, three of which have commercial shops for sale. Shops are available in two sizes, i.e., 12×36 on the ground floor and 12×30 on the lower ground floor.

Roshan Heights also has a mix of commercial and residential property on offer. Two floors and a mezzanine floor are reserved for commercial shops, whereas all other floors have apartments. Top class amenities and furnishings are used to ensure an out of this world experience for all those who wish to be a part of this place.

Diamond Mall & Residency offers exclusively-designed architectural designs and a wide scope of amenities that are sure to attract the largest number of investors.

Market projections

Prices per square foot during 2017 for the ground floor stood at PKR 26,000 but have now reached PKR 45,000. The developers now believe that the prices will further increase by the end of this year and that more of these hikes can be expected by the end of this year, when the economic situation picks up heat.

When market activity remained low, Gulberg Greens was the location in Islamabad that promised high returns. Roshan Heights garnered a lot of attention from buyers and investors and therefore the prices of property here have increased and continue to do so.

Prices of all these projects are expected to increase soon. With prices a little lower, most of the residential properties have been sold out and the commercial properties are recording great interest, primarily because of the services being provided by Gulberg Greens

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lang mafia

How to keep qabza-mafia away from your property

Land grabbing has become a major concern for the country’s property market. Karachi’s real estate is notorious for it, but the fact is that it exists all over the country. People can illegally settle down on your property – an uninhabited home or plot – and come up with fake rent or sales agreements. I have compiled a list of the measures you can take to keep your property safe.

Possession is as important as acquiring documents

Make sure no one has prior possession of the plot you are buying. Doing a little research will go a long way in protecting your interests. After acquiring the documents, inform the concerned authorities in your area, like Karachi Development Authority (KDA) in Karachi and Lahore Development Authority (LDA) in Lahore, about the transfer of property. Getting in touch with the authorities will be easier if they have been involved from the get go.

Build a boundary wall

It may come off as an obvious move, but trust me it’s important. A wall is a signal to potential land-grabbers that the land isn’t empty and actual owner of the place isn’t far. Even if you don’t build a complete wall, at least create a visible demarcation to let everyone know it belongs to you. In some cases, people have also put up signboards with the name and number of the actual owner to ensure that whoever is eyeing it knows that the owner is around.

Make yourself visible

Keep visiting the place to make sure that there aren’t any illegal construction starting on your property. You can get chummy with your neighbours so that they can inform you in case land-grabbers make their move. If you have invested in a society, make sure that you stay in touch with the management. And make sure that all property dealers in the area know that you are the owner of that particular piece of land. Socialise with the main players of the property business in that area. It may seem like a lot of work, but many of my sources suggest that these moves generally help you remain safe. This is especially important for areas that are prone to land grabbing.

Keep your property documents safe with you

And be careful when you make copies of your property documents. Producing fake documents becomes easier if the forgers have access to copies of the original documents. If you try to pursue the matter legally, it will come down to the documentation in some cases.

Get a guard

An empty home or plot – because the owner is out of city/country – even in posh areas can invite illegal possession. A trustworthy guard will keep land-grabbers away or at least inform you of a problem. Having someone on the property can help you keep your property safer than if it is left on its own.

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Gulberg Residencia

Exploring the ins and outs of Islamabad’s Gulberg Residencia

The vicinity of under-construction Islamabad Expressway is destined to become hotcake among potential investors in the due time. Gulberg Residencia is among these societies. However, real estate investment volume has gradually dropped in the course of last couple of weeks.

In order to help you understand the factors that have altered investment volume in the society that occupies a fine spot in Islamabad, I have prepared this exclusive analysis. Read on!


More than 50% of the project’s land is in litigation. While the developer is busy fixing the issue, the fact remains that they don’t have complete possession of land in many blocks. Blocks I, J and E are the only blocks where the developer has acquired and developed 100% land with possession available. Naturally property rates in these blocks is also higher. In addition, many plot owners are also constructing their houses in the mentioned blocks.

In blocks L and V, the developer has acquired and developed about 50% and 75% of the area respectively. Block A and G are 20% cleared and developed. Major litigation issues prevail in Block H, K, M, O, and P while 50% land is available for Block N. In blocks B, F, Q, R, S and T, the developer has acquired 100% land but have carried out no development so far.

Slow Pace of development

Due to litigation issues, the pace of development work in the project is slow. The increased real estate activity witnessed during the last two months was due to the construction of Gulberg Interchange and the bridge that connects Gulberg Greens with Gulberg Residencia. Interesting thing to note here is that, in terms of development work pace, the opposite is seen in Gulberg Greens – an exclusive farmhouse project targeting the end users from upper class.

Block wise rates

Here is block-wise price range of residential plots in Gulberg Residencia:

BlocksPlot SizePrice range
A7 MarlaPKR 3,200,000 – PKR 3,500,000
10 MarlaPKR 4,700,000 – PKR 5,200,000
1 KanalPKR 7,500,000 – PKR 9,000,000
2 KanalPKR 13,000,000 – PKR 14,000,000
B7 MarlaPKR 3,200,000 – PKR 3,500,000
10 MarlaPKR 4,700,000 – PKR 5,200,000
1 KanalPKR 7,500,000 – PKR 9,000,000
C7 MarlaPKR 3,400,000 – PKR 3,700,000
1 KanalPKR 8,000,000 – PKR 100,000,000
E1 KanalPKR 8,800,000 – PKR 3,700,000
F7 MarlaPKR 3,300,000 – PKR 3,800,000
10 MarlaPKR 4,800,000 – PKR 5,500,000
G7 MarlaPKR 3,100,000 – PKR 3,300,000
10 MarlaPKR 3,900,000 – PKR 4,500,000
H7 MarlaPKR 2,400,000 – PKR 3,000,000
10 MarlaPKR 3,500,000 – PKR 4,000,000
I7 MarlaPKR 3,700,000 – PKR 4,000,000
10 MarlaPKR 5,000,000 – PKR 6,000,000
J1 KanalPKR 8,000,000 – PKR 9,000,000
K7 MarlaPKR 2,300,000 – PKR 2,700,000
10 MarlaPKR 5,000,000 – PKR 6,000,000
12 MarlaPKR 4,400,000 – PKR 4,400,000
L7 MarlaPKR 3,000,000 – PKR 3,400,000
10 MarlaPKR 4,000,000 – PKR 4,500,000
12 MarlaPKR 4,500,000 – PKR 5,000,000
M7 MarlaPKR 2,300,000 – PKR 2,600,000
N7 MarlaPKR 2,500,000 – PKR 2,700,000
10 MarlaPKR 3,500,000 – PKR 4,000,000
O7 MarlaPKR 2,300,000 – PKR 2,500,000
10 MarlaPKR 3,000,000 – PKR 3,700,000
12 MarlaPKR 3,800,000 – PKR 4,000,000
P7 MarlaPKR 2,100,000 – PKR 2,500,000
10 MarlaPKR 2,900,000 – PKR 3,200,000
12 MarlaPKR 4,100,000 – PKR 4,600,000
R7 MarlaPKR 2,300,000 – PKR 2,500,000
10 MarlaPKR 3,500,000 – PKR 3,600,000
S1 KanalPKR 5,000,000 – PKR 5,500,000
T10 MarlaPKR 3,000,000 – PKR 3,500,000
1 KanalPKR 4,800,000 – PKR 6,000,000
V7 MarlaPKR 2,300,000 – PKR 2,800,000
10 MarlaPKR 3,500,000 – PKR 3,800,000
12 MarlaPKR 4,200,000 – PKR 4,500,000


What’s coming up next?

I have learnt that the developer is looking to offer possession for plots in Block B, F and R in the coming three months. So property rates in these blocks can go up. Furthermore, the auction of commercial plots in Block D Markaz, which is the commercial sector of Gulberg Residencia, is also planned in June this year.

Where to invest?

If you have enough capital, you can wait for the auction of commercial plots in D Markaz. If playing big is not your cup of tea, you can opt for buying residential plots in Block B, F, R and P (only in the developed part). My sources claim that 1 kanal residential plots in Block P could fetch better gains in the short to medium term.

Have a feedback on this article or Gulberg Residencia? Leave you comment below.

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10th Avenue

Planning for construction of 10th Avenue in final phase

Islamabad: Planning for 10th Avenue construction has entered its final phase, a news source reported while quoting Islamabad Mayor and Capital Development Authority (CDA) Chairman Sheikh Anser Aziz.

The mayor told reporters that 10th Avenue will start from IJP Road and end at Khayaban-e-Iqbal while passing through sectors I-10, H-10, G-10 and F-10. Reportedly, the residents of sectors E-11, D-12, E-12, F-11, H-11, and I-11 will also benefit from this avenue.

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Amnesty scheme

PKR 17 billion turned white through tax amnesty scheme

Islamabad: Through the tax amnesty scheme, an amount of PKR 17 billion has been turned white between December 7, 2016 and February 10, 2017, according to the stats shared by the Federal Board of Revenue.

Reportedly, 20,161 property transactions were carried out in 65 days and 3% tax was paid on the difference between DC rate and the FBR rate of property. The board has collected tax revenue of PKR 520 million from this scheme.

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real estate

Who got rich through real estate?

We have mentioned time and time again that real estate is one of the most lucrative industries in Pakistan and while that is true, this industry is not only attractive for investors in this part of the world but is just as promising all over the planet! The real estate industry has created numerous billionaires and this is a universal truth, applicable in most countries around the world.

Twenty-two people rose to the heights of making the Forbes Billionaires List because of their real estate holdings in 2016 and a huge 184 people are now part of the list of the uber-wealthy because they are property rich! China is riding high and is approaching the level of the USA with 42 billionaires to its name while the USA has a staggering 44! Hong Kong is not far with 25 and Singapore is trailing behind with six while other countries have also made the list with their own respective count of real estate billionaires.

So, who got rich through real estate? There are many worth mentioning but let me highlight a few of the world’s top real estate tycoons to give a tad bit of inspiration to the real estate enthusiasts of this country! While this list does not contain any Pakistanis yet, there is no telling what the future may hold!

So, here goes the list of some of the people who own big buildings and have even bigger bank accounts!

Wang Jianlin

Wang Jianlin is from China and is currently the world’s richest real estate enthusiast according to Forbes with a net worth of $28.7 billion. Ranking 18th in the list of the world’s richest billionaires, Wang Jianlin began his journey to riches as a commercial real estate developer, constructing shopping malls and hotels and is the very proud owner of Wanda Commercial Properties.

Seems like going commercial pays!

Lee Shau Kee

Hong Kong’s Lee Shau Kee stands in second place with a net worth of a grand $21.5 billion and is placed 31st on Forbes Billionaires List. Surprisingly, Lee has a very modest background but is now the owner of an investment portfolio containing real estate and hotels with other collateral. His empire is led by Henderson Land Development and he is paving his way to further success!

He is certainly an illustration of the saying, “Hard work pays off”!

Michael Otto

Swerving from the Asia-Pacific region, our next real estate tycoon is from Germany. Michael Otto has a net worth of $15.4 billion and the Forbes Billionaires List ranks him 51st in the world’s top billionaires. Highly active in the real estate sector, Michael’s family owns ECE Group, a constructor of shopping centres all around the world. The group also builds logistics centres, company headquarters, industrial buildings, and special purpose properties. He and his family also manage a project consisting of 8,300 apartments!

Wow Michael, that is an impressive number of properties!

Donald Bren

The fourth richest property monger in the world, Donald Bren is American and has a net worth of $15.1 billion. Standing at number 54 in the Billionaires List, Donald owns Irvine Company which has 500 office buildings, 50,000 apartments, 40 shopping centres, three hotels, and several other holdings. Notably, he also has a 97% share in Manhattan’s Met Life building!

Astounded? Me too!

It is amazing how much people have earned through the real estate sector and the numbers mentioned have made me slightly dizzy! While the list is endless, we can stop here and perhaps continue another time! Meanwhile, Pakistani investors need to get their investment antennas in place and propel into property havens to make big bucks as there is plenty of potential!

Do you have something to say about getting rich through real estate? I would love to hear your views in the comments below!

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apna ghar

Apna Ghar scheme in the limelight once again

Apna Ghar, a state-owned project planned in November 2013 to provide low-cost housing units, is once again being discussed by the authorities concerned.

According to news reports published in national dailies today, the finance ministry has instructed the Ministry of Housing and Works to prepare a plan for this project. Reportedly, a company titled “Apna Ghar” has already been registered with the Security and Exchange Commission of Pakistan.

When launched in 2013, it was planned that low-cost housing schemes would be launched in Khyber Pakhtunkhwa, Baluchistan and Punjab for those belonging to the low-income strata.

A few months ago, the Supreme Court of Pakistan also instructed the government to initiate low-cost housing schemes for homeless people in the country.

While many people are bound to live in shantytowns, the housing shortfall in the country is mounting continuously. Many shantytowns were also raised in the past and the actions taken to raise such slums located on the government’s land met with massive resistance from the dwellers. Such matters are often taken to mainstream media, arousing sympathy for the homeless.

The Supreme Court of Pakistan believes that the initiation of low-cost housing schemes by the government is the only solution to stop the development of shantytowns in the country. It is expected that the Apna Ghar scheme will help reduce the housing shortfall in the country.

Security and Exchange Commission of Pakistan Senior Joint Secretary Akhtar Jan Wazir told reporters that the governments of Khyber Pakhtunkhwa and Baluchistan have agreed to provide free-of-cost land for the Apna Ghar scheme in various districts, while land will be purchased at economical rates in Gwadar, and several other districts of Punjab and Gilgit-Baltistan.

Reportedly, the Ministry of Housing and Works has sent a summary to the finance ministry, asking for PKR 500 million to purchase land in different parts of the country for initiating the Apna Ghar scheme. I have great hopes that this project, for all the right reasons, will progress at a rapid pace and provide people with an opportunity to buy a home of their own.

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An overview of the current market situation in Islamabad

Among the real estate markets of prime cities in Pakistan, the signs of recovery are more apparent in Islamabad. Property agents from the capital city also confirm this and they attribute the improvement in property transaction volume to the price drop seen during the second half of the year.

The stagnancy that prevailed in the market after the announcement of the new tax regime on July 1, 2016 has rather set positive norms in the market. Speculative trading came to an end with prospects of paying a higher percentage of property tax on each transaction. In addition to that, the involvement of genuine buyers in property-related affairs has also given strength to solid, on-ground real estate developments. So clearly, there is limited room left for property flipping in the current scenario.

Real estate agents from Islamabad also find the present market situation conducive to steady growth in property prices. These agents are of the view that anyone who buys or sells property in Islamabad can reap good gains in the long term, leaving little room for speculative trading. Getting such feedback from agents surely is a positive sign and it indicates that a large percentage of people who have a stake in the property sector, aren’t fond of extreme highs and lows in the property trade volume.

The societies that failed to register an increase in rates didn’t see any stark drop either. The value of real estate in Sector E-11, B-17, Gulberg Residencia, and Bahria Town increased marginally, while a nominal price drop was recorded for plots in DHA Islamabad and Sector F-11 during the month.

From the price trends recorded in December, it can be safely deduced that Islamabad’s real estate sector is now on track to establish solid ground for future trading, backed by genuine buyers and long term investors. We also hope to see a better 2017 and expect to see some positive developments in DHA Valley too – a project where plot owners have been waiting to be given possession for years

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President signs amnesty scheme bill

The Income Tax Amendment Act 2016 has been signed by President Mamnoon Hussain. With this, the real estate tax amnesty scheme has gotten legal cover. Experts hope that the scheme will drag the real estate market out of the standstill it has been facing for over 5 months.

It is generally believed that pressure exerted by the business community, protests held by real estate agents and the influence of big investors together forced the government to announce this amnesty scheme. This could be partly true, but I believe that a stark drop in the revenue collected from the property sector has played a bigger role in this regard.

Reportedly, the Federal Board of Revenue (FBR) is currently facing a shortfall of PKR 100 billion in its budgeted tax revenue. A major chunk of this revenue is collected from the real estate sector, which has seen a drop of over 80% in transaction volume since July 2016. Furthermore, the new tax collection mechanism invoked a potentially harmful situation for the construction sector, affecting projects worth PKR 100 billion. Now that the amnesty scheme has been approved, the FBR hopes to collect PKR 50 billion in terms of tax revenue from the property sector.

Those interested in availing the amnesty scheme would be required to pay 3% tax on the difference between the DC rate and the rates notified by the FBR in its valuation tables. Reportedly, the new bill will be applicable for the properties purchased before July 2016. A tax official told reporters that the government would consider whether the scheme should continue, in the next budget.

Those looking to avail this scheme will not be probed about the source of money they invested in the property sector.

The Income Tax Amendment Act 2016 has exempted the families of martyred army, rangers and police officers from Capital Gains Tax and Withholding Tax on the sale of property inherited by or awarded to them. Furthermore, property worth PKR 4 million or less will also be exempted from Withholding Tax.

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Rise Of Trump & Pakistan Real Estate

Rise Of Trump & Pakistan Real Estate

So the unthinkable has happened and Donald Trump is the elected President of the USA. The world is in shock and awe with a mixed and confused reaction to this historic upset in US elections. What does this mean for Pakistan in general, specially the Pakistani’s living in United States and how it can impact the Pakistan real estate market.

Although for some implicating Trump’s victory with Pakistan real estate may be far fetched. However we should keep in mind that policies of USA not only effect Pakistan but the entire globe.

Policy for Expats and Immigrants

Trump has taken a hard stance on Muslims including Pakistani’s and even if one considers it election rhetoric , it is clearly not a rhetoric for his supporters. Under Trump rule Muslim immigrants will face more racism and stricter Government policies. I do not think so that it will be some apocalyptic situation. Muslims will however be subject to general isolation as we saw after 9-11. It may not be to that scale but 11-9 will certainly make quite a few to remember there homeland Pakistan.

Policy on Visa & Immigration

Under Trump the US policy of Visa and Immigration for Muslims in general including Pakistani’s will be harder. Also a lot of Pakistani’s will prefer immigrating to other places or just staying port. In case Trumps radical policies show positive results, other European nations may follow suit.

Pakistan-India relations

In general i think Trump may actually be good for Pakistan – India relations. He has shown his interest to mediate between the two arched nuclear rivals as well.

Recently Trump made a reference to Pakistan in response to a question if he would support Modi government’s action against Islamabad amid escalating cross-border tension.

To this Trump said: “Well, I would love to see Pakistan and India get along, because that’s a very, very hot tinderbox…. That would be a very great thing. I hope they can do it.”

He further added that he would be happy to ‘mediate’ between the two neighbors to defuse the situation.

Support of CPEC

Trump has shown his interest in developing good relations with both China and Russia. This may be good news for the CPEC project as both Russia and China are showing a lot of interest in developing it. This could mean that USA may actually support the development of CPEC and Pakistan real estate specially in Gwadar will reap the benefits.

Impact on Real Estate

The real estate market of Pakistan is very much speculative and it may respond positively. Rise of Trump may be bad news for some but back home, this is good news for Pakistan. Expat Pakistani’s will bring newer opportunities and they may follow a similar trend of shifting investments back to Pakistan as after 9-11. One more important factor to consider is that Trump may actually be good for South Asia. He has repeatedly said that he wants to work along China and wants good relations between India and Pakistan. If Trump uses his position to stabilize the  rivals in South Asia that may be a very good news not only for Asia but rest of the world.

This may give the needed boost to the Pakistan real estate sector. Investors will put some money back into the real estate sectors hoping for prices to rise under the speculation of foreign direct investments and a safer South Asia.

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