Post-election real estate: Faisalabad reacts with overwhelming hope

Elections are over, and the times of caution and hesitation are expected ended with them. The new government is set to take over and good news, optimism, and hope is in the air – as the phrase goes. The question remains however, in what way will the market react? Are investors expected to come back in droves as they were a few years ago? How do the real estate agents – the ones on ground and among people viewing these changes? What projects to look out for in the near future?

We contacted some of the top agents in  Faisalabad to know their views on the real estate market in Faisalabad – particularly a contrast and comparison between the pre- and post-election real estate.

A time for hope; a time for optimism; the time for new policies

The market has been slow for a while. The taxation regime, the hesitation in the market as the country went through Ramazan, and then a period of political campaigning and uncertainty. We still have to wait as the new government takes charge and we get to see the broader contours of government policy. Still ahead is Eid-ul-Azha. Once all this hubbub dies down, how will the dust settle? The sweeping verdict from Faisalabad is that of hope.

All the experts agreed that it was going to be an optimistic time. Ajwa Estate & Developers CEO Muhammad Shafiq Bhatti was of the opinion that good things are expected from real estate in the near future. Meanwhile, Pakistan Estate Linkers & Developers CEO Kaleemullah Butt was also hopeful. He stated that since things are going to improve in general – the Stock Exchange has been burgeoning, the Pakistani Rupee rising, all thanks to the optimism and the youthful positivity that dominates the country. Similar results can be expected in real estate.

Khizra Estate Linkers CEO M. Saadat Nawaz Bajwa expanded and explained it further that while there is hope, there is one thing that will really boost the market: favourable policies. People in real estate have actually attached hopes with the new government and are hopeful that new and favourable policies will be introduced.

One of the significant concerns for the realtors of Faisalabad in particular are the rather high DC rates in some cases, which in turn, have caused the business to slow down in some areas. People are hopeful about the rationalisation of rates and policies, according to Bajwa.

How are investors reacting?

According to all the experts interviewed, an overwhelming number of investors are enthusiastic and willing to bring their money into the real estate. They are willing to pour their savings into real estate and already the process has begun. However, as explained above, the ones that are waiting are basically waiting to see what policies are introduced before they jump into benefit from the high wave.

What projects to look out for in Faisalabad?

According to Meezan Property Dealer CEO Tanveer Hussain, the housing schemes around Canal Road, and Satiana Road are all worth considering. There are several projects there which will see significant price appreciation and investment in the near future. Those are areas that are already doing well, pour in all the investment in waiting, and you will see the boom return in no time. Punjab Government Servants Housing Scheme is also a project worth considering, he stated.

According to Butt, Green Valley located on Samundri Road is one of the projects worth looking out for in Faisalabad. Positive trends will be observed in the project soon, he felt. The developers of the project are also developing a new project on Lower Canal Road, and he had high hopes from this project as well.

Finally, Sitara Gold City and Palm City were another two projects mentioned by Bajwa, which are also worth looking out for in the near future.

What are your opinions on the future of real estate in post-election Pakistan? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.