Expert Interview: Muhammad Zahid Munir of Wapda City Associates

Zameen.com interviews Wapda City Associates CEO Mr Muhammad Zahid Munir to analyse Faisalabad’s real estate market in detail

Faisalabad’s real estate market is one of the major emerging property investment avenues in the country. With the addition of new housing projects such as Citi Housing Faisalabad, new investment opportunities have also opened up in the city.

In order to discuss the ins and outs of Faisalabad’s real estate market in detail, Zameen.com sat down for a chat with Wapda City Associates Chief Executive Officer (CEO) Mr Muhammad Zahid Munir. We are thankful to Mr Munir for enlightening us on the important aspects of Faisalabad’s property market.

Mr Munir started his real estate career in 2000 with a partner, when the city’s property sector was booming. Where on the one hand Mr Munir is a well-known realtor, on the other he is also a property investor. He started Wapda City Associates almost 2 years ago and today his real estate agency enjoys a reputation for being one of the leading real estate firms in Faisalabad.

Zameen.com: What is the current scope of investment in Faisalabad’s property market and which areas are witnessing good investment activity?

Muhammad Zahid Munir: I see Faisalabad’s real estate market doing quite well these days, as a number of property investors are in the market at the moment and sale-purchase activity is also impressive.

Compared to relatively smaller housing communities such as Paradise Valley, Eden Gardens and Model City, bigger societies such as Wapda City, FDA City and Citi Housing are witnessing good investment activity.

I would like to point out that after the launch of Citi Housing Faisalabad, investment activity and prices in almost every locality was affected adversely, but Wapda City was the only society where investment activity and property prices were not affected by the launch of Citi Housing.

So, from where I see the market, these three societies are getting a major portion of the city’s overall real estate investment.

Zameen.com: Where would you suggest people invest for the short term and long term and why?

MZM: To invest for the short term or the long term is the investors’ discretion. However, I would suggest Wapda City and FDA City for both short- and long-term investment.

Wapda City is a high-end area located on the Canal Expressway, and the same road is linked to the proposed airport site and also to an industrial zone, making the society worthwhile in terms of investment. Furthermore, the proximity of the society to the Motorway makes its location even more impressive.

On the other hand, in FDA City the prices of properties are almost half of those in Wadpa City, which is why I would suggest budget investors consider FDA City for both short-term and long-term investments. Though the society is not yet fully developed, I believe with further infrastructure development the property rates will increase here.

Zameen.com: What part does Zameen.com play in the growth of real estate agents? How do you benefit from the portal’s services?

MZM: Zameen.com is playing an important role in the development of the real estate market. What I find most impressive is that when someone searches for properties on the internet, Zameen.com appears on the top of the results in search engines.

It is also a beneficial platform for the real estate agents and it connects them with property buyers and sellers. I would like to tell you that I have closed a number of deals since signing up with the portal, and this is one of the reasons that I tell my friends working in the real estate market to avail Zameen.com’s services.

This interview was originally published in the May 2015 issue of Zameen.com Magazine. Please click here to subscribe to the magazine today!