Pakistan’s
commercial real estate stock is fast becoming a booming part of the property
market as reported by Lamudi.pk. The property portal reported a 78
percent increase in the total number of commercial property searches, conducted
on the platform since January 2015.
The
majority of these searches were reported from Karachi, followed by Lahore and
then Islamabad. This indicates the rising interest of investors in commercial
properties. Moreover, the recent launch of Pakistan’s first real estate
investment trust (REIT), on the Dolmen City Mall, played a fundamental role in boosting interest of investors in the commercial property
asset class.
Saad
Arshed, Country Director of Lamudi Pakistan said: “Pakistan’s commercial property
sector holds a bright future. With western-style retailing, such as shopping
malls becoming more popular and REITs being launched on these shopping malls,
commercial property stock has a long way to go.
Apart
from these shopping malls, Lamudi has also registered an increase in demand for
office spaces, especially virtual offices. Moreover, with the security
situation improving in Pakistan, which contributes to increased investor
confidence, especially that of international retailers, the commercial property
market has plenty of room to expand and grow.”
Commercial
areas in Lahore, Islamabad and Karachi have attracted the most funding from
investors for new projects. However, smaller cities such as Gujranwala and
Faisalabad are no far behind and have new commercial projects springing up such
as the Saremco Center, Model City etc.
Lamudi
continuously strives to improve user experience. Keeping in view, the increase
in demand of commercial properties, it launched the “New Developments” section, which features both residential and commercial projects
and makes it easier for users to find their dream commercial property online.
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