An important landmark in the history of Islamabad real estate. This will have huge impact on Zone 2 prices. Regular flights to start on 19/20 April.
https://www.thenews.com.pk/latest/301698-first-flight-lands-at
Good job by PMLN government!!!
This thing has been exaggerated by dealers. It's impact won't be that huge, prices have already skyrocketed. How many people will get benefit from airport??
But obviously prices will gradually increase on long term but won't overnight.
True! Agreed with Naeem. Zone 2 dealers and developers have marketed it as if the flights will take off/land from the boulevard of their society. No one will highlight their lack of progress but still increasing rate. Although I am a beneficiary of this New Airport Bubble but I believe in real development of the land and not rely on miracles to hide their in-competencies.
Imtiaz and Naeem: I tend to partially agree with you, but considering the mentality of our buyers, who for some unknown reason prefer to live on the runway (in rest of the world it is quite the opposite). But my assessment is not that of bubble, but more of long-term effect that is in part due to development of infrastructure taking place in the zone. Some of the contributing factors may be:
- Widening of Kashmir highway
- Metro extension up to airport
- construction of new roads in zone 2
- possible completion of Margala road
- possible initiation of Rawalpindi bypass.
- industrial/economic activity related to CPEC
This will boost entire Zone 2 and nearby CDA sectors (I-16, etc.) The winner among these will be the one who will focus on quality of development and management.
Totally agreed with naeem and imtiaz sir. This boom nothing but a mechanism to make fool out if innocent customers. Same old pathetic tactics, no on ground development and just capitalize everything on airport as if it would bring all facilities with every plane landing and taking off. Every other society in zone 2 is pathetic in development and very efficient in marketing airport.
Isloo sir apart from 1 or 2 projects u have mentioned, for rest i would say, hanooz dilli door ast.
I think, we have kind of a realistic picture of the current situation by combining all the comments posted here so far.
Isloo: You are right, I mentioned Bubble in a sense that a quick upwards movement of the prices in short term may have a downward trend too, probably for a shorter period, affecting those who have less holding power and they may not yield the expected return. Also, for small investors or common people their hopes are boosted, while in reality the sustainable growth and infrastructure can take longer time to develop. The case of B-17, where prices went up quickly, came down quick, at some point they became negative for some people but are now reflecting a more realistic value.
Falcon: Yes, this is what I perceive, since the Airport thing will get out of the bag in a couple of weeks and I think than all those societies claiming to be '5 - 7 km' away from airport would need to work hard for their money.
Yes, a slightly far off (15 - 20 km away) location from mainstream (noisy, polluted and congested) city life can be a blessing. The major issues in Pakistan is fuel prices, traffic congestion and broken roads put people off (adding up more cost and time for the commute)
No one goes to Airport on daily basis, so obviously the prices will comes down to some extent in next few months. But in long term Zone 2 will remain in main focus of the Guanine buyers. Zone 1 is out of reach to 99% of the population. And rates in Zone 5 are also high as compare to Zone 2.
True that Airport in itself will have a direct impact on a minority only. However, the fact is that connections and road networks for the airport also provides an opportunity for otherwise remote, under developed land to be utilised to cater for the housing needs. Now its up to the land owner/developers how much they utilise this opportunity. Big brands like Bahira, DHA etc. Are minting some big bucks because they made efforts to develop and deliver. Once off societies only focus on once off revenues and no future plans.
I hardly see any society in Zone 2 (except for may be 1 or 2 odd exceptions- thats also on paper) promising or delivering on Security, Water ,and basic utilities whiles prices are on an upward trend on almost daily basis without any work for months.
Yes, theses societies failed to deliver as far security, water, utilities etc. Etc. Biggest culprit is Top City which hasn’t even given possession and successfully created fake market hypes.
In my humble opinion more than the airport the real strength of zone 2 is the proximity to military industrial complex extending from attock wah and its neighboring areas and havelian. Infrastructure development and rising middle class population with extra bucks is the key.
There is no denying that Zone 2 has more potential for future development and it has to grow over time and years to come. The issue here is that societies have been exploiting infrastructure or road networks, increasing prices each day and decreasing the development and utility provisioning.
Believe me, once the new Airport dust is settled, some new development and mega-project lollipop will be out soon to try to mint more money and hide their lack of development.
Very well said by Imtiaz. When dust settles Zone-II will be nothing more than Gulzar-e-quaid, airport society and other surrounding areas near the old airport. No facilities and over-populated. No green areas etc. Etc.
JDM, also the thing that has been most overlooked or ignored for the Zone 2 now and in future is the lack of available water. More population growing there will make it even more serious, unless some solid measures are taken to meet the short fall from now
Prices in mumtaz city and top city are declining before official inauguration. Now what you will call it…
Call that Artificial Spikes that’s going to happen again and again when the market moves on the basis of news, rather than the development. Places already developed have stable, slower upward movement.
I am sure dealers already moving their shops. When prices fall, they all disappear like tomatoes on eid.
Sounds good
At the end of the day, there will be only BTs/DHAs/May be Gulberg and part of DHA valley will be nice places to live in calm and esthetic environment.
I cannot understand why living at top of the airport is greatest in the world?
Is it 24/7 noise of landing/taking off of planes or something else luxury?
Why people moved away from the Benazir airport?
This is all dealers’ engineered product.
Abdul Qayyum Sb. I think of same thing. Totally agree with you.