Islamabad: The local real estate sector is continuing to recover from the coronavirus-induced slowdown, with property agents reporting a gradual uptick in property prices. The surge, they say, is attributed to factors such as increased optimism about investment returns, government support (in the form of construction incentive package) and ongoing infrastructure development. They add that the property market is nearing another boom and this advance may dwarf all other previous boom cycles.
Saad Basharat of Beacon Investment is of the view that investors need to act fast to capitalize on this potential real estate boom. Basharat’s agency specializes in Gulberg Islamabad, a project of Intelligence Bureau Employees Cooperative Housing Scheme (IBECHS). The gated community is situated near the Islamabad Expressway at the intersection of Zones 4 and 5. It is further bifurcated into Gulberg Residencia and Gulberg Greens. These two localities are connected with each other through the 220ft-wide Gulberg Expressway.
Gulberg Residencia – An overview
This residential locality consists of 22 blocks. Amongst these sub-divisions is the primary commercial avenue called D-Markaz. Development work is underway at a rapid pace and possessions have already been announced for several blocks. The community features plot cuts in various sizes such as 5, 7, 10, 12, 20 (1 kanal), and 40 marlas (2 kanals). According to Mr Basharat, 7 and 10-marla plot cuts are popular among buyers and he recommends the same to investors looking for short-to-medium term gains. As for prices, a 7-marla plot cut ranges between PKR 8 million and PKR 11 million, 10 marlas between PKR 9.5 million and PKR 16 million, and 20 marlas (1 kanal) between 17.5 million and 25 million.
Gulberg Greens – An overview
This state-of-the-art Gulberg Green scheme comprises 5 Blocks (A, B, C, D, and E) as well as an Executive Block. It features plot cuts for farmhouse developments; available in 4, 5, 10 kanals. These properties come in price range between PKR 65 million (PKR 6.50 crore) and PKR 160 million (PKR 16 crore). Additional facilities planned for the project include 5-star hotel, mega shopping mall, corporate buildings, underground electrification and drainage, and solar-powered street lights.
So, is Gulberg Islamabad worth investing in?
As Mr Basharat puts it: Yes, it is. He says that the locality offers unique investment prospects; all of which can be availed by both genuine buyers and investors. The local property marketplace saw a surge in the immediate wake of the lockdown period and Mr Basharat and his peers are anticipating a tremendous increase in property prices in the next four years. Those who invest now will score solid gains, they will be the winners, he says.