Real estate in Gujranwala is booming rapidly

[Salman]

Real estate in Gujranwala is booming rapidly

http://nation.com.pk/blogs/01-Oct-2016/a...ng-rapidly

A heads-up for buyers and builders: Real estate in Gujranwala is booming rapidly


The Gujranwala real estate is developing remarkably. City Mayors Statistics ranked it 27th in the list of top 100 World's Fastest Growing Cities and Urban Areas from 2006 to 2020, exhibiting a growth rate of 3.49%. With various Gujranwala property projects, the city’s realty market has observed a boost during the last couple of years.

Hosing Societies

Developed societies such as Citi Housing Society have shown the maximum profit margin. According to Kings Real Estate Chief Executive Officer (CEO) Hassan Basra, prices of properties in Citi Housing Society spiked 50% in the last two years and sale-purchase activity in the locality is underway at a good pace in the locality. With phases I and II now complete, extensions are under-development.

Some more developing Gujranwala real estate projects are noteworthy. Fazaia Housing Scheme, which was officially launched in 2013 and is located near Alipur Chowk and Nawab Chowk, has already taken the city property market by storm. DHA Gujranwala, on the other hand, has also received a colossal response from investors.

Of all the under-development societies, Master City is showing rapid development at the moment. It has only been a year since its launch and the balloting has been completed, proving to be one of the most promising society in town.

Gujranwala Malls

A handful of high-end malls are operational in the city. For instance, Kings Mall is famous among the residents of Gujranwala for its amazing facilities including cinema, food court and grocery store. Faraz Centre, located near Rahwali, is another development which falls in the similar category.

Some other projects are in the pipeline. Saremco Mall, for instance, is situated at an ideal location with a park and a zoo situated nearby. It is a mixed-use building offering apartments, shops and offices. Providing the best shopping and residential experience, mixed-use buildings have already been a success in other cities such as Karachi, Lahore and Islamabad. However, the success of mixed-use buildings can be gauged in Gujranwala with the passage of time as more projects are completed.

Houses in Gujranwala

Even the housing sector of Gujranwala is fraught with immense potential. According to Basra, if investors shift their focus towards making houses, it will be a bit costly but the return will be remarkable.

Zameen.com, a property portal in Pakistan, recorded an increase of 6.38% in the rates of 10 Marla houses in Gujranwala over the last year. Considering these stats, investors can realise good returns by capitalising on the housing sector of Gujranwala.

Gujranwala real estate is among a few markets that enjoy a handsome portion of overseas investment. The investment prospects are humongous, as Gujranwala’s property sector is still nascent. Hence, it is advisable for genuine buyers and builders to keep this city in mind as it has all it takes to be the next big thing in the province of Punjab as far as the realty sector is concerned.