British Pakistani to invest $650m by 2021
Khalid Iqbal, British-Pakistani real estate magnate plans to invest $650 million in Pakistan by the end of 2021. Having delivered $200 million real estate projects in the last five years, Iqbal’s company, the Daniel Johns Group now plans to put up $130 million worth of luxury apartments, penthouses and commercial shops in Islamabad’s Bahria Enclave.
Investing in Pakistan
The DJ Group founder plans to invest in Ce La Vi development, with 357 luxurious apartments, office space, retail and leisure space that will be over one million square feet.
Iqbal sees Pakistan as a unique opportunity where overseas investors could use the residence as a holiday home, renting for the remaining months for reasonable returns. He said:
The apartments will have relaxing garden spaces and will benefit from five-star shopping mall, the first-ever 9D multiplex cinema in Pakistan, award-winning food outlets, and five-star UK-branded spa specialising in skin care and makeup.
He aims to invest an additional £500 million ($650 million) into Pakistan by the end of 2020, focusing on Lahore, Gwadar and food franchise business across Pakistan.
An emerging market
Many look to the capital of Pakistan, Islamabad as a smart real estate investment. This is due to the following facts:
- Smart Cities: Capital Smart City Islamabad, a housing society project of Future Development Holdings Private Limited is investing in 45,000 kanals of land for an eco-friendly residential and business space
- $50 billion foreign investment: A government official said that Pakistan is confident in securing up to $50 bn investment in the next three to five years
- Sustainable: Pakistan is a party to international agreements, protecting the environment. Among them are the Climate Change, Ozone Layer Protection and Nuclear Test Ban
Luxury apartment prices have increased by 130% in the last six years – according to Pakistan Economic Survey Record, 2016.
Eighteen residences in the capital, is one such example of an exclusive property, with amenities that include a golf course, squash courts, swimming pool, yoga studio and sports hall. This may be due to the trend of citizens and expatriates moving to cities like Islamabad, Lahore and Karachi for opportunity, safety and security.
Construction is also expanding in Pakistan, building housing schemes and mixed-use high-rise buildings.
A white paper suggests that as Pakistan is moving towards a more liberal society with a free press and media, leading to international investments from leading organisations around the globe.
It may explain why those looking to invest in emerging cities are particularly interested in finding holiday homes or rental properties with a long-term ROI.
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