Zameen.com Magazine - Issue 3 - June 2014 by Zameen.com

PATRICK GROVE FOUNDER & CEO OF

SHAUN DI GREGORIO FOUNDER & CEO OF

atrick Grove is a renowned internet and new media entrepreneur who is the Co-founder and Chief Executive Oﬃcer of Catcha Group. Over the course of 14 years, Mr Grove co-founded and led four companies from start-up to initial public oﬀering (IPO), namely Catcha Media Berhad, iProperty Group, iCar Asia, and iBuy Group. The scope of these companies varies from real estate and automotive portals to ecommerce groups, and their operations span Malaysia, Singapore, Thailand, India, the Philippines, Indonesia and Hong Kong. Mr Grove is a vastly experienced entrepreneur who has invested heavily in new media ideas. Under his leadership, Catcha Group has become the largest online investor in the ASEAN region, controlling an extensive portfolio of listed and unlisted assets in excess of $1 billion. He has also been independently and widely recognised as an industry luminary in the Asian region with numerous international awards, including Global Leader of Tomorrow by the World Economic Forum; New Asian Leader by the World Economic Forum; Young Entrepreneur of the Year by the Australian Chamber of Commerce, Singapore; Asia’s Best Young Entrepreneur by Bloomberg Business Week, and Australia Unlimited’s 50 Global Achievers.

haun Di GreGorio served as the Chief Executive Officer of iProperty Group for over four years, ending in March 2014, and currently heads the venture capitalism firm Frontier Digital Ventures, in addition to serving in an advisory capacity to online classifieds businesses around the world. During his tenure at iProperty Group, Mr Di Gregorio spearheaded the transformation of iProperty Group from a small online business with a market capitalisation of $15 million into the largest listed internet company in the ASEAN region with a market capitalisation of $600 million. Mr Di Gregorio has been working with online classifieds for nearly 12 years, eight of which he spent with the REA Group as the Asia Pacific General Manager and later the International Business General Manager. He has been a non-independent, non-executive Director at iCarAsia Limited since July 2012 and is a Member of the Australian Institute of Company Directors. He holds an MBA from the Australian Graduate School of Management, University of New South Wales, and a Bachelors in Business majoring in Marketing from Monash University.

ZAMEEN.COM WELCOMES TWO NEW PARTNERS That Zameen.com is Pakistan’s leading property portal has been brought to sharper relief with a massive expression of conﬁdence from the best in the business. Zameen.com has closed a venture round with Singaporebased Catcha Group and Frontier Digital Ventures, following which both Catcha Group and Frontier Digital Ventures have acquired a substantial interest in Zameen.com. At the conclusion of the deal, Zameen.com has proudly welcomed Co-founder and CEO of Catcha Group Mr Patrick Grove, and Frontier Digital Ventures CEO Mr Shaun Di Gregorio on to its Board of Directors. Our latest partners have built up, invested in, or directly control an extensive list of assets and interests across the globe, a select section of which is featured below.

CEO’S FOREWORD

EDITORIAL EDITOR IBRAHIM SUHEYL ASSISTANT EDITOR SAMRA ZULFIQAR

a MonuMentaL MiLeStone We are proud to present the third issue of Zameen.com magazine and pleased to say that with every edition, our product continues to reach greater heights and explore newer avenues of disseminating valuable and meaningful information to our readers. With this issue of our magazine, we mark a monumental milestone in our 8-year journey: an investment deal with Singapore-based internet giant Catcha Group and Frontier Digital Ventures that has set Zameen.com even more ﬁrmly on the path to the heights of success. I welcome on board our two new Directors, Mr Patrick Grove and Mr Shaun Di Gregorio, both of whom are an honour for us to call part of the Zameen.com family. You can read more about them on the previous pages.

WRITERS ZAIN NADEEM AHSEN GHUFRAN KHAN

CREATIVE CREATIVE HEAD SABEEN ALI DESIGNERS MUNEEB IJAZ AMMAR TOOR

PR & COMMUNICATION PR & COMMUNICATION MANAGER SHAISTA ZULFIQAR

DEVELOPER ADVERTISING HEAD, DEVELOPER BUSINESS ASIM IFTIKHAR

AGENT ADVERTISING REGIONAL SALES MANAGER (NORTH) AHMAD BHATTI REGIONAL SALES MANAGER (SOUTH) MASHOOD REHMAN SALES MANAGERS (CENTRAL) KAMRAN SHEHZAD HASSAN AHMED

MANAGEMENT

The fact that such renowned names from across the world have chosen to invest in Zameen.com is further testament to the quality of the product we are providing, and a harbinger of great things to come for the Pakistani real estate market.

Regards,

Zeeshan ali khan Chief Executive Officer Zameen.com

CHIEF EXECUTIVE OFFICER ZEESHAN ALI KHAN CHIEF OPERATING OFFICER IMRAN ALI KHAN EXECUTIVE CHAIRMAN GILLES BLANCHARD DISCLAIMER Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect Zameen.com’s views. Unless otherwise noted, all artwork and ad designs printed in Zameen.com magazine are the sole property of Zameen.com Pakistan and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher.

PRINTER The Fortune Productions Suite No 3-4, 1st Floor, Barket Centre, Royal Park, Lahore

Contents 12 06 18

COVER STORY COUNTRY HOMES: SAVOUR THE SPACE

neWs stories

featured ProPerty airline avenue

19 23

featured ProPerty sa gardens

Market rePort a year after the general elections

feature story Power to the people

feature story alive in a smart world

featured agents

feature story Women in Pakistanâ&#x20AC;&#x2122;s real estate

Classifieds

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CLIFTON BEACH PARK PHASE II TO BE COMPLETED BY END OF APRIL karachi: The second phase of the 3-kilometre Clifton Beach Park will reportedly be completed by the end of April. Karachi Metropolitan Corporation (KMC) Administrator Mr Abdur Rauf Akhter Farooqi said the park would add to the beauty of Clifton Beach and provide better recreational facilities to the people. The administrator also said that coconut palms would be planted along the boundary of the park and lampposts would be installed to ensure it was well-lit. According to sources, the estimated cost of the project was Rs 70 million.

PUNJAB CM INAUGURATES WALTON OVERPASS Lahore: Punjab Chief Minister Mr Shahbaz Sharif inaugurated the Walton Overpass on April 20. This 872-metre overpass has been built within the short period of 62 days, at a cost of Rs 700 million. The chief minister told reporters at the inauguration that the development of the overpass was part of the master plan to make Ferozepur Road signal-free. He said further that due consideration would be given to transparency, speed and quality of future development projects as well.

KMC CLEANING UP KARACHI’S COASTAL AREAS karachi: The Karachi Metropolitan Corporation (KMC) has launched a campaign to clean up the city’s coast on an emergency basis. During this campaign, the greenbelts of South Zone, Beach

ROYAL ESTATE ENTERS INTO SALE AGREEMENT WITH EMAAR PAKISTAN

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View Park, Bilawal Chaurangi, and other areas will be cleaned up. Earlier this month, KMC Administrator Mr Abdur Rauf Akhter Farooqi had visited the city’s coastal areas and told Parks and Horticulture Authority Director General Mr Jameel Durani to take eﬀective measures to beautify and clean them up.

PUNJAB GOVT TO DEVELOP 800-ACRE KNOWLEDGE PARK IN LAHORE Lahore: Punjab Chief Minister Mr Shahbaz Sharif has said the Punjab government plans to develop a ‘Knowledge Park’ on 800 acres of land in Lahore, housing Institutes of medicine, engineering and information technology. According to a handout, the chief minister said several foreign educational institutions had shown interest in setting up their campuses at the facility, which would also boast a modern research centre.

CDA PLANS TO BUILD PARKING PLAZAS, OVERPASSES iSLaMabaD: The Capital Development Authority (CDA) plans to construct five overpasses and two underground parking plazas in Islamabad to ease parking and traffic issues in the Federal Capital. CDA Chairman Mr Maroof Afzal unveiled this plan at a meeting with a delegation from the Islamabad Chamber of Commerce and Industry. Designs for the proposed overpasses and parking plazas had been finalised and construction would commence soon, he added.

Lahore: Royal Estate has signed an agreement with Emaar Group to sell their projects in Pakistan. “Royal Estate is pleased to have signed an agreement with Emaar Pakistan, because Emaar Group is internationally recognised and trusted for its ability to execute large-scale real estate projects,” said Royal Estate’s Chief Executive Oﬃcer (CEO) Mr Raheel Ahmad. “Emaar Pakistan’s upcoming projects in Lahore will be signiﬁcant for the real estate sector of the city. The developer’s projects in Islamabad and Karachi hold great investment potential and will also play an important role in the progress of the country,” he added. Emaar Pakistan recently launched the sale of its new project La Parasio & Prados in Canyon View, Islamabad. A ceremony was held in this regard at Pearl Continental Hotel on May 10 and 11, which Royal Estate also attended.

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KMC RAZES ENCROACHMENTS IN EMPRESS MARKET

LAHORE COMMISSIONER SUMMONED IN PLEA AGAINST LAND ACQUISITION

karachi: The Anti-encroachment Task Force (ATF) of the Karachi Metropolitan Corporation (KMC) razed over 100 illegal stalls on a footpath near Empress Market in Saddar.

Lahore: The Lahore High Court (LHC) summoned the commissioner of Lahore Division in a petition against acquisition of land for the Metro Bus project. The petitioner had claimed that the government had taken 19 marlas of his land near Qurataba Chowk in Mozang without compensation or due process. He had also stated that he was not issued a notice before the land was acquired. The LHC summoned the commissioner on April 18 to look into the matter.

ATF Senior Director Mr Bilal Manzar told a news agency that more than 2,000 stalls were removed from the same road a week earlier, but more had cropped up since. He said the KMC was particularly watchful in areas it had already cleared up to ensure that the encroachers would not return.

KMC THANKED FOR LAUNCHING ANTI-ENCROACHMENT DRIVE karachi: Tahiri Mosque President Mr Nooruddin Bhai has thanked the Karachi Metropolitan Corporation (KMC) administrator and the Karachi commissioner for removing encroachments from Empress Market. In a meeting with KMC Anti-encroachment Director Mr Mazhar Khan, Mr Nooruddin – the leader of the Bohri community – was briefed on the actions taken to remove encroachments from the area. Mr Khan said that encroachers would not be allowed to return to the area.

CDA CHIEF TELLS ENVIRONMENT WING TO IMPROVE GREENBELTS iSLaMabaD: Capital Development Authority (CDA) Chairman Mr Maroof Afzal has told the authority’s Environment Wing to take concrete measures to improve the greenbelts in the Federal Capital and plant seasonal flowers at major avenues and squares. Mr Afzal also told the Sanitation Directorate to ensure garbage disposal in and overall cleanliness of Islamabad on a daily basis.

LHC APPROVES ACQUISITION OF LADY WILLINGDON HOSPITAL’S LAND FOR OVERPASS

BAHRIA RESTRAINED FROM BUILDING OVERPASS, 2 UNDERPASSES IN KARACHI karachi: The Sindh High Court (SHC) has once again restrained Bahria Town Karachi from carrying out construction work on an overpass and two underpasses in Clifton because of the latter’s failure to acquire an Environmental Impact Assessment (EIA) report on the projects. An application was submitted to the court by the Defence Housing Authority (DHA) in this regard, responding to which the SHC issued orders to stop construction. The court told the Karachi Metropolitan Corporation (KMC) to obtain the EIA report from the Sindh Environment Protection Agency (SEPA) and also told SEPA to prepare the report in accordance with the relevant laws.

ENCROACHMENTS REMOVED IN SHAH FAISAL TOWN karachi: On orders from Karachi Metropolitan Corporation (KMC) Administrator Mr Abdur Rauf Akhter Farooqi, the corporation’s Anti-encroachment Task Force (ATF) launched a drive in Shah Faisal Town to remove various illegal shops, pushcarts and cabins. The operation was supervised by ATF Senior Director Mr Bilal Manzar, and other senior officials of the task force were also present on the occasion.

INDUSTRIAL UNITS IN RESIDENTIAL AREAS CAUSING HEALTH PROBLEMS

Lahore: The Lahore High Court (LHC) has granted approval to the Punjab government for the acquisition of 2 kanals and 11 marlas of Lady Willingdon Hospital’s land for the construction of Azadi Chowk Overpass.

Lahore: Industrial units, especially steel factories, in residential zones of the provincial capital are reportedly causing health problems for residents.

The court said that the provincial government had proposed to make alternative arrangements for the hospital within 45 days, and that an estimated Rs 8,811,345 would be spent to provide substitute facilities for the ones that would be razed to make way for the bridge. The court added that the hospital’s buildings were not protected under the Antiquities (Amendment) Act of 2012 or the Punjab Special Premises (Preservation) Ordinance of 1985.

Serious objections against the existence of industrial units in residential communities have been raised by the City District Government and other departments, but no practical measures have been taken so far to remove these factories. According to a survey, various steel units are operating in Badami Bagh, Daroghawala, New Saggian, Rashidpura and other residential areas in the city, significantly increasing environmental pollution.

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NOCs FOR 566 SHANTYTOWNS IN PUNJAB DEFERRED

DHA LAHORE OBSERVES CLEANLINESS WEEK

Lahore: The Matrooka Waqf Imlaak Board and other government departments have stopped proceedings on Noobjection Certiﬁcates (NOCs) for some 566 registered kachi abadis (shantytowns) in Punjab.

Lahore: In order to encourage residents and businesses to maintain cleanliness, the Defence Housing Authority (DHA) observed a ‘Cleanliness/Dengue Awareness Week’ from April 27.

The board’s 510 shantytowns and another 56 had applied for ownership of their land and sought NOCs from the Ministry of Defense, Pakistan Railways, District Coordination Oﬃce (DCO), Immigration & Passports, Forest Department, Communication & Works, Lahore Development Authority, Livestock Department, Housing Department, Muslim Auqaf, Agriculture Department, and the Department of Fisheries. The applications received some attention before the general elections and upon the release of the schedule for the local government elections, but the matter was deferred as soon as the schedule for the local government elections was cancelled. In Lahore alone, there are 132 shantytowns on Auqaf Department land that have not been regularised because NOCs have not been issued, along with seven others on land belonging to various departments. These include shantytowns in Jallo, Muslim Colony in Faisal Park, Zia Colony in Township, Warispura in Shahdara, Kot Muhammad Hussain, C Block Johar Town, and Peter Gil Colony. Residents of shantytowns in Bahawalnagar, Lodhran, Okara, Hafizabad, Kasur, Mandi Bahauddin, Sialkot, Faisalabad, Sheikhupura, DG Khan, Mianwali, Sargodha, and Bhakkar also await the fulfilment of promises made before the general elections.

An inauguration ceremony for the campaign was held at Civic Commercial Area (CCA), H Block, Phase I, attended by the DHA administrator, DHA Residents Association president, Walton Cantonment Board CEO, DHA oﬃcials and residents. In order to raise awareness about dengue, community-based activities were held during the campaign.

IHC GREEN-LIGHTS RAZING OF SHANTYTOWNS iSLaMabaD: The Islamabad High Court (IHC) issued orders to the Capital Development Authority (CDA), the interior secretary, and the inspector general to raze all shantytowns in the capital by April 23. The IHC also told top federal oﬃcials to continue the operation against shantytowns and submit reports to the court at the next hearing. During a recent hearing of a petition submitted by a shantytown resident seeking to halt the operation, the IHC stated that no one had the right to claim something was legal when it was not. The court also expressed displeasure at the CDA’s negligence, because of which these shantytowns had mushroomed in the first placed.

G11/3 APARTMENTS HANDED OVER TO ALLOTTEES

CDA TO CONDUCT COMPUTERISED BALLOTING OF ALTERNATE PLOTS IN I-14

iSLaMabaD: The Housing and Works Ministry has handed over keys and possession letters for 19 apartments in G11/3 to the allotees.

iSLaMabaD: The Capital Development Authority (CDA) informed people whose plots in Sector I-14 come under double allotment, resizing or deletion that computerised balloting for the allotment of alternate plots would be conducted for them. The balloting was held at the Pak-China Friendship Centre on April 29, and the results were announced through couriers and the CDA’s website.

“It is commendable that possession has been given in one of the stalled projects of Pakistan Housing Authority Corporation (PHAF). The completion of this project is proof that our team can execute the rest of the stalled projects as well,” Mr Usman Ibrahim, Minister of State for Housing and Works, said at a ceremony held to issue possession letters. He also said three new residential projects would soon be started by the PHAF in Islamabad.

‘DEVELOPERS’ FOCUS SHIFTING TO SMALLER CITIES’ Lahore: Pakistan’s real estate market is witnessing a developmental shift as private developers increasingly focus on smaller cities, says Saigal Estates Managing Partner Mr Shahwar Khan. Discussing property trends with Zameen.com, Mr Khan said Bahria Town, City Housing and Grand City were all launching

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residential societies in various cities outside of the three major ones, such as Gujranwala, Sialkot, Faisalabad, Nawabshah, Sukkur, Hyderabad, Kharian and Mirpur. He said further that with the launch of state-of-the-art residential societies in smaller cities, their residents would enjoy better facilities and would have less of an incentive to move to Lahore, Karachi or Islamabad.

newS STORIES

BAHRIA TOWN KARACHI LAUNCHES COMMERCIAL HUB

progress of construction work on six overpasses. During his visit, he told the project director to pick up the pace of work in order to ﬁnish well in time.

karachi: Bahria Town has launched ‘Midway Commercial’, the central commercial hub of the development, featuring commercial units of 5 marlas (120 yards2) available for booking on a ﬁrst-come-ﬁrst-serve basis.

The project director told Mr Afzal that two of the six overpasses had been completed and construction had begun on the third overpass. The chairman was told that the recent spell of rains had aﬀected the pace of work, but every eﬀort was being made to complete the project in time.

The 12-month payment plan is as follows: Size Down Payment 4 instalments (quarterly) total

5 marlas Rs 7,000,000 Rs 2,500,000 Rs 17,000,000

Possession for these commercial units will be provided within six months, as proposed by Bahria Town Karachi.

ENCROACHMENTS IN BALDIA TOWN REMOVED karachi: On orders from Karachi Metropolitan Corporation (KMC) Administrator Mr Abdur Rauf Akhter Farooqi, the KMC’s Anti-encroachment Task Force (ATF) undertook an anti-encroachment drive in Baldia Town and removed illegal shops, cabins and pushcarts from Sector No 9, Bismillah Chowk and other areas. The operation was supervised by ATF Senior Director Mr Bilal Manzar, and other ATF oﬃcials were also present on the occasion. National Assembly Member Mr Salman Mujahid also visited various areas where the anti-encroachment operations had been carried out and praised the ATF’s performance. He said encroachments would not be allowed in the city and antiencroachment actions would continue.

DEFENCE RESIDENTS SOCIETY OFFICIALS VISIT DHA CITY karachi: Defence Residents Society (DRS) officials visited various sectors of DHA City on Super Highway under the supervision of DRS President Mr Zafar Iqbal. Project Director Mr Muhammad Rafiq briefed the officials on the status of development work at DHA City and informed them that the entrance gate, Defence City Karachi (DCK) Directorate, visitors’ centre, DCK central facility building, and staff accommodation were in the final stages of development. Work on infrastructure development plans for the provision of basic facilities would be completed soon and possession would begin by 2016, he added.

CDA CHAIRMAN INSPECTS CONSTRUCTION OF KASHMIR HIGHWAY OVERPASS iSLaMabaD: Capital Development Authority (CDA) Chairman Mr Maroof Afzal visited the Kashmir Highway to inspect the

LDA FILES COMPLAINT AGAINST TMAs FOR ALLEGEDLY CONCEALING RECORDS Lahore: The Town Municipal Administrations (TMAs) of Lahore have allegedly concealed records of 97 housing schemes from the Lahore Development Authority (LDA), an oﬀence for which the latter has ﬁled a complaint with the Municipal and Housing Departments. The Ferozewala TMA has allegedly not submitted records of 77 housing schemes and, according to a report, these records have been concealed on purpose. The report claims that the records were not being provided to the LDA because of irregularities in the approval process of the housing schemes in question. The LDA has sought help from the municipal secretary and the housing secretary to take action against the TMAs that have failed to submit the records.

KMC INITIATES ACTION AGAINST ILLEGAL STRUCTURES karachi: The Karachi Metropolitan Corporation (KMC) has initiated action against the owners of 50 commercial buildings in Saddar with illegal warehouses and shops on designated parking spaces. The occupation of parking spaces has caused massive traﬃc problems in the area. KMC Administrator Mr Abdur Rauf Akhter Farooqi said the corporation had completed its survey of commercial buildings and initiated action against the buildings in question. He added that any lease agreements related to these parking spaces would be terminated and a citywide survey would be conducted to identify and correct similar problems.

LDA PLAZA, OTHER PROPERTIES SEALED OVER NONPAYMENT OF TAXES Lahore: The Excise & Taxation (E&T) Department has sealed several properties over their owners’ failure to pay property taxes. On orders from Director Mr Akram Sheikh, the E&T team sealed LDA Plaza on Egerton Road, Shimla Hill View Hotel, Khalid Plaza in Anarkali, Ghazanfar Marriage Hall, and several other properties.

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SAVOUR THE SPACE out on the serene and peaceful bedian road, a 10-minute drive from allama iqbal international airport and removed from the legendary bustle of Lahore, lies an address that is sure to capture the imagination of those who seek their very own island of blissful luxury and tranquillity. Developed by chohan real estate with an exclusive, discerning clientele in mind, country homes is a special project that spans 533 kanals of prime land on main bedian road, split into 100 plots of varying sizes. the special part is that these sizes begin with a whopping 4 kanals and go up to full 20-kanal plots, perfect for those who prefer wide open spaces and lots of room within their homes.

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Inside the majestic gates of Country Homes – yes, it is a gated and walled community – lies a flawless infrastructure, complete with wide, carpeted roads and all the basic utilities required for comfortable modern-day living, including underground electricity. The latest security systems employing CCTV monitoring, coupled with armed guards on duty in their designated check-posts 24/7, ensure that residents feel safe and secure at all times. This peace of mind is what makes Country Homes such a wonderful abode of tranquillity, because one can only truly relax and unwind when one isn’t worried about safety and security. The charms of city life are also readily accessible, since DHA is a stone’s throw from Country Homes. In fact,

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Country Homes is nestled among several other prestigious housing projects such as Eden Avenue, Bankers Town and Spring Meadows, and is directly adjacent to DHA Phases 9 and 10. The development has been approved by the Lahore Development Authority (LDA) and offers immediate possession of plots, and construction has already begun on several houses. Country Homes is a highly economical choice compared to similar developments offering large plots for farmhouses and luxury homes, with prices that are highly likely to make you do a double take. Set in lush, green surroundings, the development offers its residents community parks, an exclusive club house, a mosque, and convenience stores. Tennis courts, gazebos,

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a golf course, snooker and billiard facilities, and a mini cinema make Country Homes an ideal place for families to enjoy themselves together, and the abundance of space allows residents to host parties and functions without worries. Sometimes, words fail to describe the aura of a certain place. We place Country Homes squarely in that category, and therefore recommend that you experience first-hand its beautiful, tree-lined streets for yourself and feel the openness seep through into your consciousness, stripping away the trappings and frustrations of cramped city life.

about chohan reaL eState Chohan Real Estate are well-recognised, leading developers and real estate agents based in Lahore, with their head oďŹ&#x192;ce and six branches in the provincial capital. Starting out in 1985 with the

Property type

Price range

4-Kanal Residential Plot

PKR 22,000,000

8-Kanal Residential Plot

PKR 44,000,000

12-Kanal Residential Plot

PKR 66,000,000

16-Kanal Residential Plot

PKR 88,000,000

20-Kanal Residential Plot

PKR 110,000,000

aim of meeting the demand for stylish and comfortable living, they have since grown to become one of the oldest and most consistent organisations in the industry, processing numerous projects with a 100 per cent success rate. At their core is a deep understanding of the importance of responding to change, based on which their highly qualiďŹ ed and experienced agents provide unmatched assistance to a huge clientele.

location map

CALL NOW +92-42-111-124-124 +92-42-111-172-172 +92-42-35729990

zameen project listing Zameen iD: zameen.com/np/704-173.html city: Lahore construction Status: Complete Price: PKR 22,000,000 - PKR 110,000,000 visit www.zameen.com for more information

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AIRLINE AVENUE

The watchfully planned Federal Capital of Pakistan has a distinct taste in residential developments, where the bar is set high enough for not just any project to qualify, let alone compete with the existing iconic housing societies. Surfacing high above the rest of the newly launched real estate developments in Islamabad is Airline Avenue, a project of Landmark Builders and Developers. While it is hard to offer investors a combination of tempting amenities in a city that is literally teeming with modern housing societies adorned with some of the best residential facilities on offer, Airline Avenue sure has some very charming features lined up for its potential investors and dwellers. The society is located at a convenient 15-minute drive from Zero Point and enjoys a highly accessible address along the Motorway (M2) Interchange near the New Benazir Bhutto International Airport. Although the sound location of this project is a big factor, attracting the attention of more and more investors, there is a lot more that they can expect from the society.

to head to another place to satisfy your recreational needs.

heaLth & recreation The elaborate health and recreation facilities are perhaps the best-selling factor of Airline Avenue, as the project has evenly addressed the recreational needs of people belonging to all age groups. The society features a mini golf club, table tennis facilities, chess and snooker clubs, kidsâ&#x20AC;&#x2122; gaming zones, gymnasium, temperaturecontrolled swimming pools in commercial centres, and a radio-controlled aircraft flying club complete with a control tower and runway.

coMMerciaL coMfort Much of todayâ&#x20AC;&#x2122;s popular lifestyle culture revolves around having access to modern shopping centres and related commercial facilities. Airline Avenue has not ignored the fact that people love shopping. With modern shopping centres, semi-commercial boulevards and local sector shops, the residents of Airline Avenue will never be short of their regular dose of shopping.

why airLine avenue?

other GooDneSS

Good lifestyle and recreation go hand-in-hand, and attempting to sell a residential development that fails to attain a perfect equilibrium between the two would be a useless endeavour. Looks like the developer of Airline Avenue has deeply pondered the idea of what discerning investors would want in a perfect housing community. Be it dining out or hanging out, Airline Avenue will give you very few reasons

Airline Avenue has an elaborate underground wiring and sewerage system, so residents will never have to worry about staring at wires dangling off rickety poles or sewage bubbling out on to the streets. The societyâ&#x20AC;&#x2122;s developers have also been mindful of the parking needs of the residents and have reserved enough space for car parking in the public and commercial areas.

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With fool-proof security employing the latest CCTV technology and trained personnel, living in Airline Avenue means complete peace of mind with nothing, literally nothing, to worry about in terms of security. Maintenance is another thing that demands minimal attention from Airline Avenue residents because the societyâ&#x20AC;&#x2122;s efficient maintenance staff ensures that everything works like a well-oiled machine, including the proper and timely disposal of garbage. The big question at the end of all this is how much you will pay to reserve a plot in this society, which is as close

Property type

Price range

5-Marla Residential Plots

PKR 1,500,000

10-Marla Residential Plots

PKR 2,900,000

1-Kanal Residential Plots

PKR 5,400,000

7.33-Marla Semi-commercial Plots

PKR 3,665,000

7.5-Marla Commercial Plots

PKR 7,500,000

to a perfect abode as it gets. Well, with a 30-month instalment plan, this sweet deal is very affordable, which means you better hurry up.

location map

CALL NOW +92-42-111727362 +92-51-2514942 +92-51-2514943 +92-321-9454980

zameen project listing Zameen iD: zameen.com/np/698-172.html city: Islamabad construction Status: Under Construction Price: PKR 1,500,000 - PKR 7,500,000 visit www.zameen.com for more information

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SA GARDENS The brilliant execution of a charming idea

We have increasingly come to associate a complete residential experience with only the largest cities in the country and their satellite towns, which has not been the case for a good while now. The speed with which these major cities are expanding has been matched almost step for step by more outlying settlements, and Zameen.com is glad to feature one such development that has caught its eye. SA Gardens, located on main GT Road near Kala Shah Kaku, is the brilliant execution of a charming idea. A 20-minute drive to the urban centre of Lahore, the development oﬀers its residents several unique features that demand attention from anyone looking to invest or settle down.

acceSSibiLity One of the key features of SA Gardens is the fact that its primary entrance lies on main GT Road,

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giving residents a highly convenient route to Lahore proper practically at their doorstep. The development is a short, 2-minute drive from Kala Shah Kaku Motorway (M2) Interchange, which provides another high quality route without the hassle of traﬃc jams and other assorted frustrations of major thoroughfares. Allama Iqbal International Airport is also a 20minute drive away via the Lahore Ring Road Interchange. All of these options combine to give SA Gardens the sort of accessibility that other satellite developments often dream about.

afforDabiLity SA Gardens is in advanced stages of occupation and development, a fact that makes the price tag so much more feasible. The development is a great bargain for the amenities and facilities it oﬀers, and investors can rest assured that they

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made the right choice that is likely to give them excellent returns on investment.

Property type

Price range

3-Marla Residential Plot

PKR 450,000 - PKR 550,000

faciLitieS

5-Marla Residential Plot

PKR 750,000 - PKR 850,000

Now let’s talk about the good stuﬀ.

10-Marla Residential Plot

PKR 1,700,000 - PKR 1,900,000

SA Gardens is a complete housing society with all utilities and amenities up and running. A full hospital complete with emergency room is available to all residents 24/7, wide open parks invite residents to relax, and easily accessible, trendy shopping areas ensure that the dwellers of SA Gardens are a happy lot of consumers. The development also features schools and a sports complex, community mosques and other religious facilities such as an Al-Huda Centre.

2-Marla Commercial Plot

PKR 1,200,000 - PKR 1,500,000

The development is walled and gated with 24-hour security and also features a sophisticated underground electricity system and on-call maintenance services. In case all that was not enough, SA Gardens boasts a McDonald’s restaurant as well! It is safe to say that the modern family unit would be completely at home here.

oPtionS The development features so many options that it is highly unlikely for potential buyers to walk away because they failed to ﬁnd what they were looking for. Its range of land and home options is impressively diverse and extensive, with model houses also available on convenient, walletfriendly instalment plans. With everything set up for an ideal life to proceed at SA Gardens, we recommend that you begin the process of setting up your dream home without further ado.

location map

CALL NOW +92-323 7811811 +92-301 4307531

zameen project listing Zameen iD: zameen.com/np/722-175.html city: Lahore construction Status: Complete Price: PKR 450,000 — PKR 1,900,000 visit www.zameen.com for more information

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Market REPORT

PakiStan’S ProPerty Market

A YEAR AFTER THE GENERAL ELECTIONS i

lurches after the elections or the announcement of the budget. Even the ongoing correction failed to have much of an impact on prices in Bahria Town, which largely progressed at their own pace.

Let us, then, analyse the performance of the realty sector a year after the 2013 General Elections of Pakistan.

Wapda Town and LDA Avenue I, on the other hand, have had a fantastic year in terms of property prices. With development work underway, both have experienced impressive growth in the prices of 1-kanal plots, with the former stabilising towards April 2014.

n hindsight, the general elections held on May 11, 2013 have had a largely positive effect on both the real estate market and the stock market of Pakistan. The new government, which has a reputation for being rather pro-business, helped property prices touch new highs in the second half of 2013, which subsequently and largely stabilised in the first quarter of 2014.

riSeS anD faLLS in Lahore DHA Lahore is perhaps the single most important community in the city in terms of real estate and has consistently been the most looked-up area per Zameen.com’s search trends. In DHA Lahore, the average price of a 1-kanal plot was Rs 11,807,331 in May 2013, which climbed the charts rather sharply in later months after the formation of the new government. By November 2013, ﬁve months after the elections, prices of 1-kanal plots had shot up 21.75% to Rs 14,377,440. From this point onwards, prices experienced a slight correction and, as of April 2014, are hovering around the Rs 13,500,000 mark.

the housing sector presents a similar story. Given the kind of luxury taxes the Punjab government has levied on houses of 2 kanals or more in Category A areas (mostly upscale areas such as Gulberg, Cantt and DHA), one would have thought it safe to assume that their prices would have suffered but, interestingly, Zameen.com’s data shows a 19% increase in prices of 2-kanal houses in DHA between May 2013 and April 2014. Housing markets in upscale communities performed well before, during and after the elections and recorded considerable price rises for 1-kanal houses before stabilising towards the end of the year. Between May 2013 and April 2014, 1-kanal houses in DHA and Bahria Town registered 16.36% and 14.71% increases in prices respectively. The rent for these houses in DHA shot up by a whopping 54.02% during this time period, which is a clear indicator that DHA still retains its status as the most sought-after address in Lahore.

Average Prices of 1-Kanal Houses in 2014

Property prices in Bahria Town Lahore saw less of an upsurge, or a surge any which way for that matter, following the general elections. Between May 2013 and April 2014, prices for 1-kanal plots did rise 16.50% but there were no sudden

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Localities

Avg Sale Prices

Avg Monthly Rent

Rental Yield

Cantt

36,663,523

112,596

3.78%

DHA Lahore

33,520,769

120,487

4.31%

Johar Town

26,981,235

118,685

5.28%

Bahria Town Lahore

25,701,511

88,250

4.12%

Market REPORT

uPS anD DownS in iSLaMabaD Our Q1 2014 market report showed a mixed picture for Islamabad as well, where prices depicted a steady market in all but a few areas. In-depth study of the last 12 months shows a similar pattern following the general elections, where prices for 1-kanal plots have held steady in the top performing areas of Islamabad.

F-11 was the one glaring exception to this trend with the recent bullish form of the prices of 1-kanal plots in the neighbourhood. The year 2013 did not come with any extraordinary dividends for Islamabad in general, and most of its popular neighbourhoods carried this stability into 2014 except for F-11, where residential plots recorded a 10.14% rise in prices in the ﬁrst four months of 2014. For Bahria Town Islamabad and E-11, replicating F-11’s performance has been an elusive task. Prices for 1-kanal residential plots in Bahria Town have dropped 18.87% since January 2014 and prices that had been rising in E-11 since December 2013 have also slowed down. the housing market has fared better in Islamabad during the last 12 months than plots. Prices of 1-kanal homes in F-11, G11 and E-11 went up by 11.32%, 43.28% and 24.61% respectively during this time. Similarly good performance was witnessed in the rental market in the ﬁrst four months of 2014, with all three CDA sectors posting decent rental yields.

Average Prices of 1-Kanal Houses in 2014 Localities

Avg Sale Prices

Avg Monthly Rent

Rental Yield

F-11

63,408,572

189,709

3.60%

E-11

58,188,889

167,475

3.46%

G-11

57,251,111

171,889

3.61%

karachi continueS to reGiSter Growth Law and order in Karachi may not have been up to the mark

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over the last 12 months, but that did little to slow down the property market in the city. Compared to Lahore and Islamabad, Karachi has deﬁnitely had a better run with consistent improvement in property prices. In DHA Karachi, 1-kanal plots showed a bullish trend. In May 2013, the prices for residential plots of this size stood at Rs 19,811,940; by April 2014, these prices had increased by 27.96%.

Impressive price increases were also seen for plots in Gulistan-e-Jauhar and Gulshan-e-Iqbal as well, where scarcity of land pushed prices up. Price graphs for these areas show a considerable jump in April 2014, which may continue into June as well. In terms of rental prices and, more specifically, average annual rental yield, Clifton unsurprisingly remains the most promising location. For 1,125 ft2 and other smaller apartment units in the locality, average rental yield was 5.98% in 2014. This, by far, is the highest return any residential unit has exhibited in 2014 anywhere in Pakistan.

the coMinG MonthS With the annual budget just around the corner, June is shaping up to be an uneventful month and any significant rise in prices or investment seems unlikely. This expected quiet period could likely continue into Ramadan, after which the market is likely to rev up. Zameen.com Co-founder and CEO Mr Zeeshan Ali Khan reckons the market could pick up in the latter half of 2014 on the back of overseas Pakistanis returning home for Eid, giving buying and selling activity a boost. Mr Khan, who keeps a keen eye on the very happening realty sector of Pakistan, expects 2014 to end on a positive note for the market.

feature STORY

IBRAHIM SUHEYL

T ALIVE IN A

T R A M S D L R O W rely u s t u b ly w lo s As prosperity of the d n a L e h t o t y makes its wa see the o t g in n in g e b Pure, we are s wake it in e iv r r a o ls ďŹ ner things a

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feature STORY

You are not entirelY to blame if these words conjured in Your head images similar to scenes from back to the future, with a talking house that does everYthing on its own. that is actuallY prettY much exactlY what we are talking about here

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feature STORY

the ludicrous notion that women are somehow lesser contributors to anY industrY has been largelY left behind

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feature STORY

NAGHMA GUL

et’s get something straight right off the bat: this will not be your run-of-the-mill man versus woman article pitting one gender against the other to the inevitable detriment of one. Instead, this will be a far more positive piece of writing, focusing on the good that comes from egalitarian practices in the professional world. I think the ludicrous notion that women are somehow lesser contributors to any industry has been largely left behind now.

In every professional ﬁeld, women have made it to the top and shown the world how wrong it was in not giving them a chance. The glass ceiling lies shattered, if you will, across the world. Pakistan has also embraced women’s talent with open arms and it is no longer just a distant ideal practised abroad. Truth be told, I am simply loving this positive attitude and the recognition women are receiving left, right and centre, be it Flight Lieutenant Ayesha Farooq, the first female war-ready pilot in the Pakistan Air Force, or Sharmeen Obaid-Chinoy, who won the Academy Award for her brilliant documentary Saving Face. For decades, Pakistan has been portrayed as an intolerant, chauvinistic nation and has been stigmatised for it. Unfortunate incidents are given massive coverage across the globe and the immense good of everyday life in this country gets lost in the hubbub. The sad truth of the matter is that these things happen everywhere in the world, without exception, but certain nations are always singled out for some

it is mY personal experience that women have an edge when it comes to convincing buYers or sellers during propertY deals male-dominated ﬁeld. Some credit must be given to the men, who have welcomed this change with grace and respect. Not that women couldn’t have broken through if they hadn’t been so cooperative, mind you, but increasing literacy might have played a major role in this change. When I first visited the mine site where I was going to work (my career of choice before I moved to real estate investment), I was quite apprehensive about the villagers’ reaction to working under a woman. To my surprise, they did not treat me any differently than they treated male bosses, and we ended up working like a well-oiled machine. It turned out to be a great experience. Today I see a lot of female presence, direct or indirect, in the real estate sector, and it is my personal experience that women have an edge when it comes to convincing buyers or sellers during property deals. My dream used to be an organisation where women would come together to work on their own, but after observing a merit-driven atmosphere of mutual respect in the industry, I no longer think such an organisation is necessary.

reason or the other. Good, then, that we have women like Ms Obaid-Chinoy and Flight Lieutenant Farooq to show the world the much, much larger picture no one is willing to see. This is a topic I can wax eloquent about for as long as I please, but I won’t put you through that. Instead, let’s put the spotlight on the real estate industry of Pakistan, which has pleasantly surprised me by including women in what has always been a

Right now, the property market in this country might not be rising very sharply, but such is this industry, booming one day and steady the next. Our feminine hearts are taking it well, and we will go with the ﬂow. After all, we’ve invested the same time, money and eﬀort as real estate agents of the opposite gender, so the results – good and bad – are the same for us regardless of the fact that we’re women. The author is a Rawalpindi-based investor who is a regular-reader-turned-contributor of Zameen.com. She can be reached via her email address: gultooti@hotmail.com

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Power SAMRA ZULIFQAR

GENERATORS OVERALL RATING

UPS OVERALL RATING COST ECO-FRIENDLINESS

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COST ECO-FRIENDLINESS

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SOLAR PANELS OVERALL RATING COST ECO-FRIENDLINESS

bY the end of 2015, solar energY will be as cheap as grid electricitY in half of the countries across the globe

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PictoriaL STORY

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