Karachi, the city of lights, has been playing a vital role in the development of the country. It contributes a considerable share in GDP and is famous for being Pakistan’s hub of business and economic activity.
It is said to have an integral part in the county; Although, the past of the city hasn’t been so good where it has faced massive downfall. Despite the fall, the city didn’t collapse and gradually moved towards progress. The infrastructure of Karachi has been greatly improved over the years, part of which can be attributed to the master plans proposed for Karachi. However, no master plan could successfully be landed, nevertheless, the city has shown improvement in different aspects.
Karachi, being the city biggest city of Pakistan has been facing the problem of overpopulation since the beginning. To counteract this problem, numerous housing societies have been brought to existence. This led to a skyrocketed advancement in the construction and real estate business in Karachi.
Being a Karachiite, you must be aware of the uptrend shown by the real estate in the city. But do you know what factors boosted real estate to such a degree? Generally speaking, there are always some factors that either uplift or degrade a particular sector. Fortunately, the so-called factors have been nice to the real estate sector in Karachi. Well, without further ado, let’s mention these factors.
Formation of Housing Societies:
As aforementioned, the increase in demand for housing led to the establishment of housing societies across the city. The increased housing invited investors which correspondingly improved the real estate sector in Karachi.
Development in Gwadar:
Within the past few years, there’s been immense development in Gwadar. The development found its way to this small fishing city all for its potential to control the trading route of the world. Thus, the progress being witnessed by Gwadar can be accredited to the port, which is all set to turn the expensive trading route upside down. Considering its potential, numerous investors from all across the world are showing interest in the port city and have lent a helping hand in its development.
With the construction of the Makran Costal highway, the distance between Gwadar and Karachi has been reduced to only 7 hours. Being in such proximity, it is not wrong to say that the development of Karachi coincides with that of Gwadar. The testament lies in the steep trend shown by the graph of Karachi’s progress in relation to the growth of Gwadar.
New Cricket Stadium in Gwadar:
With the development of the new cricket stadium in Gwadar, the real estate in Karachi is greatly benefited. The reason being the proximity of the cities. Cricket fans from different countries come to the Gwadar’s stadium and having Karachi nearby, they don’t mind visiting the city of lights. Hence, the progress of real estate in Karachi all along!
Attractions in Karachi:
Yet another factor enhancing the real estate sector is the tourist spot in Karachi. Tourists from different regions visit the city for its attractions including:
- Quaid-e-Azam House Museum- A historic place, being actively visited to relive the history and admire the life of the great leader
- National Museum of Pakistan- This place bears a variety of art, models, and exquisite sculptures portraying Pakistani culture.
- Express Market- A vibrant market that is always busy and full of people. This market is famous for selling literally anything, whether be pets or clothes, it has got it all!
- Ibn-e-Qasim Park- Being the largest park in Karachi, it is visited by a huge number of people. For recreational activities, people make their way to this park.
The factors are not limited to these and are much more in number. As the real estate in Karachi marked new standards, there has been a tremendous increase in return on investment (ROI) and profitability. Keeping in view the ROI, let’s have a look at hot investment areas in Karachi.
Hot Investment Areas in Karachi:
The property worth in Karachi usually shows an uptrend, however not every investment area in the city is bound to show such a trend. That is, there are some hot investment areas in Karachi that are tagged with the word “Profitable”.
Scheme 33:
This area holds about 293 housing societies. With such an immense number of societies, it is no wonder why it is blessed with every basic amenity. The location further adds up to its worth, being located in the very center of the city and thus reaching out to the extremities with ease.
Scheme 33 offers both residential as well as commercial properties. As the area is blessed with everything needed to uplift its worth, the high return on investment is speculated by the investors who show their keen interest in this place.
Gulistan-e-Johar:
Housing a large share of the population, this place has a lot to offer when it comes to residential and commercial plots. The dense population residing in the area, allows it to be highly important from a commercial point of view. The commercial and residential plots offer an incredible returns on investment. Therefore, this area is considered one of the lucrative areas to invest in Karachi.
Bahria Town, Karachi:
This place doesn’t need an introduction as it’s one of the finest gated communities in Pakistan. Be it location or the facilities, Bahria town has been outstanding in every aspect. It offers a wide range of commercial as well as residential properties. Investing in a property within Bahria town is destined to show an uptrend and that is probably why it is highly favored by the investors.
Final Thoughts:
In a roundabout, Karachi has everything to offer whether be related to business or recreational activities. This city is the future of Pakistan, being the main wheel in driving the economy. The importance of Karachi is exceeded to such an extent that the development of the country is proportional to the development of Karachi.
Being a Karachiite, you should have the apprehension of the above-mentioned profitable areas, attractions in the city, and that how crucial your city is for the country.
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