Zameen.com sits down with Mian Brothers Real Estate & Builders CEO Mr Mian Muhammad Yasin for his expert take on the ins and outs of Islamabad’s real estate market
Islamabad’s property market was affected by the political sit-ins to some extent towards the end of 2014, but the political unrest could not keep the market down for long. A lot is going on in the realty sector of the Federal Capital at the moment, the most promising of which is the development of the New Islamabad International Airport and other infrastructure projects being undertaken by the government.
In order to get an expert view on the general happenings of Islamabad’s realty market, Zameen.com had the good fortune of sitting down with Mian Brothers Real Estate & Builders Chief Executive Officer (CEO) Mr Mian Muhammad Yasin. We are thankful to Mr Yasin, who is one of Islamabad’s top real estate agents, for providing us with his expert take on the property market of the Federal Capital.
Mr Yasin started his real estate career 14 years ago as the CEO of Mian Brothers Real Estate & Builders, located in City Plaza, F-10 Markaz, Islamabad. Today, his real estate consultancy is celebrated as one of the leading property firms in Islamabad’s realty market.
Zameen.com: What is the status of Islamabad’s real estate market now that the political sit-ins are over?
Mian Muhammad Yasin: The property market of the Federal Capital had started to pick up during the political sit-ins, but now that the demonstrations are over the market has regained its old sheen. In my opinion, the situation in the realty sector will get even better in the coming months. The massive intervention of the army in security matters is likely to increase investors’ confidence, and I would suggest to all the investors to have a positive mindset about Islamabad’s real estate market.
Zameen.com: Which areas in Islamabad are best for short- and long-term investment?
MMY: Now is the right time to invest in the market for both short- and long-term gains. In my opinion, the societies in the neighbourhood of the New Islamabad International Airport are good for investment. The airport enjoys access from Kashmir Highway, Islamabad-Peshawar Motorway, and Lahore-Islamabad Motorway. It is 70% to 80% complete at the moment and the government is likely to inaugurate it sometime soon.
Upon completion of the airport, the sale and purchase of properties in nearby societies will increase further. You can also gauge this by the fact that development activities in these societies have also picked up pace.
From an investment point of view, I would like to specifically mention Pakistan Employees Cooperative Housing Society (PECHS), where the developer has provided water supply, electrification and gas connections. Its boundary wall has also been completed. The society is not only good for short- and long-term investment but also for living.
Zameen.com: Do you think the development of the new airport will also increase the value of properties in its immediate neighbourhood?
MMY: The prices of properties in almost all societies in the neighbourhood of airports across the country have witnessed sharp rises. For instance, the Allama Iqbal International Airport in Lahore was built over a decade ago and we have seen prices of properties in its neighbouring societies, especially Askari X, increase massively.
Rest assured, the prices of property units in the neighbourhood of the New Islamabad International Airport will also increase, InshaAllah.
Zameen.com: Which CDA sectors are witnessing notable activity these days? How, in your opinion, can the CDA improve its performance?
MMY: In my opinion, Sector D-12 of the Capital Development Authority (CDA) is witnessing great sale and purchase activity. It is a developed sector located on Margalla Road, which provides easy access to the airport.
Other than that, activity in Sector G-13 (Federal Government Employees Housing Foundation) is also noteworthy. The society is located at an eight-minute drive from the airport.
The CDA can improve its performance and image by facilitating the residents of the Federal Capital in a better way. It needs to improve road infrastructure in the city and provide proper parking spaces. Furthermore, the authority should build footpaths and set up streetlights where needed. Last but not least, the civic authority needs to plant more trees and should focus on the beatification of the city.
Zameen.com: People are very confused about DHA Valley. What are your expert views on the development and where do you think it is headed?
MMY: DHA Valley was celebrated as a good investment option because of its attractive prices. However, the investors got confused because development work was not taking place there in a proper way. But the investors of DHA Valley need not worry because development work has begun in the society and the prices of units in the locality are likely to increase in the near future.
Zameen.com: What is the importance of networking for a real estate agent? How can agents strengthen their relationships in the market?
MMY: Networking is very important for the estate agents to survive in the market. Usually, one agent has a buyer and another agent has a seller. So, without fostering contacts, how can an agent conduct their business and earn commission? Deals are matured through networking.
Agents should search newspapers and other platforms to find relevant contacts. They can strengthen their relationships in the market by remaining in touch with each other, simply by exchanging emails or phone calls.
Zameen.com: What part do you think Zameen.com is playing in the development of the real estate sector? How do you benefit from the portal’s services?
MMY: Marketing plays a vital role in the real estate business and Zameen.com has provided an effective and efficient online marketing platform to real estate agents. I was one of the first agents to be listed with Zameen.com and I am satisfied with the portal’s services.
Ninety percent of my deals with overseas Pakistanis are matured through Zameen.com and 50% to 60% of my local business comes in through this portal.