Anchored down by impressive skyscrapers and ultramodern buildings, the ever-growing skyline of Lahore is a testament to its rapidly transforming urban landscape. Keeping in line with the country-wide real estate shift from plots to high-rises, the commercial centres in the City of Gardens are also being replaced with integrated complexes and compounds that are no longer limited to hang-outs and dine-ins.
There is no denying that the commercial centres in bustling metropolises have always been a source of attraction for migrants and visitors. However, the emergence of mixed-use developments in Lahore has had a significant impact on its cityscape as well as the real estate market. Offering an eclectic mix of residential and commercial properties for sale, these integrated urban centres provide consumers with a unique opportunity to live, work, shop and play all under the same roof and essentially in grand settings.
Most of these new projects in Lahore are equipped with the latest amenities and facilities, ensuring an elegant living and luxurious shopping experience. Typically, these buildings host commercial spaces on the lower floors while the upper floors are designated for office spaces and apartments. Their growing demand among investors and buyers also highlights the paradigm shift in the real estate market.
So, if you are planning to buy property in Lahore but are struggling to choose between residential and commercial spaces, consider investing in mixed-use developments as they can be a great addition to your real estate portfolio in terms of diversity and capital gains.
The Growing Demand for Mixed-Use Developments in Lahore
As the popularity of mixed-use developments and shopping malls began to grow among the masses, the developers were quick to follow the trend. This boom in the construction of mixed-use buildings was also tied to the hike in demand and price of commercial units in Lahore, especially over the past few years.
According to the data accumulated by Zameen.com, the leading property portal in Pakistan, the average per square feet price of commercial units in the city has gone up by more than 20% between 2018 and 2020, which is pretty remarkable considering many of these retail spaces were made available rather recently.
Needless to say, these increasing rates are backed by the steady demand for innovative mixed-use projects in Lahore.
Evaluating the data from the last three years, Zameen.com also noticed that the demand for commercial units in Lahore had increased by 106% between 2018 and 2020. As of December 2020, the average rental yield of shops in commercial plazas stood at an impressive 6.3%. This number was even more encouraging for retail units located in posh areas and prominent mixed-use developments in Lahore.
Similarly, the demand for apartments in Lahore rose by 127% between 2018 and 2020. The average per square feet price of such residential units also witnessed an increase of 50%. Moreover, the average rental yield of apartments in Lahore, as of Dec 2020, is 7%.
To meet the growing demand for projects that seamlessly integrate both residential and commercial properties, over 30 mixed-use complexes are presently under construction in Lahore.
Some believe that the standards already set by prominent shopping malls in the city like Packages Mall and Emporium Mall would be hard to compete, alluding to the fact that a mixed-use building must boast a prime location, striking façade and superior development standards to turn heads and become a promising investment option.
Interestingly, the up-and-coming ultramodern project of Grand Square Mall in Lahore is a great example of high-end mixed-use developments.
Grand Square Mall, Lahore – The Perfect Blend of Luxury & Innovation
Envisioned to be the next biggest commercial hub in the city, the state-of-the-art project of Grand Square Mall is an exceptionally well-designed and aesthetically pleasing mixed-use development located in the highly sought-after neighbourhood of Gulberg, Lahore. A ground-breaking venture of Salman Developers, which is a well-known and trustworthy name in the development and construction sectors of Pakistan, this project offers promising investment prospects that have drawn the attention of domestic and overseas buyers alike.
The ideal location of Grand Square Mall in Gulberg opposite Centre Point and Mini Golf Park is complemented by its breathtaking architecture, contemporary design palette, outstanding amenities, and exquisite interiors. This mixed-use development in Lahore offers a wide range of investment options to genuine buyers and investors, including high-end commercial outlets, sophisticated corporate offices and luxury apartments.
The upscale commercial and residential high-rise has also been approved by the Lahore Development Authority (LDA), adding to its status of being one of the most secure investment opportunities in Lahore.
The shops for sale in Grand Square Mall are located on the lower floors of the project whereas the upper floors are dedicated to well-equipped office spaces and modern residential units. The apartments for sale in Grand Square Mall include classic studio flats as well as 1-bedroom and 2-bedroom options, making it a dream home for families of all sizes.
The property in Grand Square Mall is available on a simple and convenient 36-month easy instalment payment plan and you only need to make a 30% down payment to book a unit in the project.
Exclusively marketed by Zameen.com, Grand Square Mall also guarantees a 5% annual rental yield on modern, split-level retail units. To top that off, those who invest in Grand Square Mall can also expect 40% to 50% capital gains in the next three years, making it a one-of-a-kind investment option in Lahore.
In addition to that, the world-class facilities at Grand Square Mall are also set to give a tough time to its competitors. Some of the most noteworthy features of the upcoming mixed-use development in Lahore include an earthquake-resistant structure, uninterrupted power supply, round-the-clock CCTV surveillance and fire security, spacious car parking, high-speed elevators, fully-equipped fitness centre, beautiful prayer area, and much more.
You can learn more about the facilities and amenities at Grand Square Mall in our detailed guide on the project.
To sum it up, the growing demand for mixed-use developments in Lahore has led to a boom in the real estate sector, with premium ventures such as Grand Square Mall leading the way and presenting the residents of the city with an all-in-one project.
For the latest updates on the Grand Square Mall payment plan, make sure to get in touch with our experienced real estate experts at the 24/7 Sales Centre established by Zameen.com. Our helpline is 042-111 333 333.
Furthermore, to book a unit in Grand Square Mall, feel free to fill the form on the right (for desktop users) or at the bottom of the page (for mobile users).