Real estate consists of land and the buildings on it, along with its natural resources. The business of real estate is the profession of selling, buying, or renting land, housing, or buildings. Real Estate in Pakistan is a thriving sector of the economy, and Pakistan spends about $5.2 billion on construction every year.
According to the Pakistan Bureau of Statistics, construction output accounts for approximately 2 per cent to the GDP of Pakistan, with housing representing less than half of that total. Real Estate Agents are performing an essential part in the economic development of the country.
Real Estate Business in Pakistan
Due to the rise in population and the need for urbanization, residential properties are in high demand. This has led to more and more people, wanting to invest in real estate. The increase in demand is the reason why Pakistan is considered home to Asia’s largest real estate investors.
Most of the revenue generated from the real estate business in Pakistan is gathered from within and overseas Pakistanis. The Real Estate sector has not yet delved more into the new technological and marketing advancements taking over the world. Ironically, there is not even a single housing society in Pakistan that has an office abroad.
The government has taken few steps to ensure that the real estate business in Pakistan continues to advance by introducing awareness campaigns through various methods to help the people understand the various terminologies of the real estate business and to assist them in solving the issues they face in the business across the whole country.
Another step in the development of this sector is the introduction of expos and festivals. These festivals are not only a platform for people to sell and buy, but an opportunity for them to learn about the market and get knowledge about the real estate industry.
How to Start a Real Estate Business in Pakistan
Many people are interested in starting with some small scale business from home through the means of some capital. But starting any business for a short period with a large amount of money would be the biggest blunder of your life. In such circumstances, we would advise you that you should always try to catch with some business ideas through which you make a profit and much high standard value in the market places. These days, the popularity of real estate business is getting high among the people. But the main question arises on how you can start with the real estate business in Pakistan!
Create a Professional Name
At first, you should be giving attention to offering the most suitable name for your company. Try to keep it professional and attractive to grasp the attention of the customers or clients. Along with the name, you should start considering some solid business plans. Your business plan is the main thing that can either give your business a boost in the market or can even give a drop to it in just one night.
Carry out Market Research
Try not to neglect to bring out with the detail market research. This is one of the essential steps in establishing any business in the market. This is mainly because of the reason that this market research will help you with the understanding of the environment in which you have been working. You should be completely aware of your competition in the market and what kind of services they are providing to improve their business.
Search Property Dealers
You should carry out the research work to note down the names of the property dealers in the market places. For this purpose, you can properly make the use of the real estate directory or internet, as well.
Compare Your Charges
Whichever services you are giving to your customers, you must always set it with the rates by comparing it with the rest of the Pakistan real estate market holders. Whatsoever services they are providing in the high rates, you should make sure that you should be making them an offer at affordable rates.
Create Your Portfolio
Last but not the least, comes the most creative part that is all about the creation of the portfolio. In the portfolio, you should be discussing the whole history of your business, your experiences all along with the services which will be provided in your real estate business for the customers.
So this is all we have ended up with the discussion of some of the helpful and important tips that will definitely help out the beginners in starting the real estate business in the country.
Islamabad Real Estate Projects
The Federal Capital City of Islamabad currently has a glut of new construction programs. The capital already holds the title of one of the most costly properties in Pakistan. Not just the real estate, but every other commodity in the city is more costly than it is anywhere else in Pakistan. Due to this and various other reasons, this city is truly meant for the upper-class.
Al Ghurair Giga Pakistan (Private) Ltd -AGGPPL is a leading business group; involved in Banking, Real Estate, Textile, and Gold Refining. AGGPPL’s primary focus in Pakistan is real estate mix development, which includes multimillion USD projects – Giga Mall Islamabad and Goldcrest Dubai.
The largest mall of Islamabad, Giga Mall, is a multistory complex that has more than 200 local and international brands under one roof. Besides, it has a Food Court, a kid’s play area, and a state of the art Cinema. Located at the prime location of G.T.Road, Giga Mall provides a shopping experience like never before. On the other hand, Goldcrest is a unique 17 Multi High-Rise Residential Towers Project, out of which 07 are under construction. The posh locality of the whole project goes to say that it offers state-of-the-art amenities such as mosque, bowling alley, hospital, gyms, daycare center, clubhouses, laundry, sauna, Jacuzzi and swimming pools. Two clubhouses with food courts and laundry services help you minimize your domestic chores
Defence Housing Authority
Defence Housing Authority is considered one of the largest real estate and property development organizations administered by the Pakistan Army, originally aimed to develop housing for retired and current military personnel. DHA is nationally known as the corporate that has strived to provide an opportunity to live a luxurious and innovative modern living. Relying on the elements of strategic urban planning, sustainability, and development, it has carved out its commercial and residential projects.
Till now, DHA has developed and opened its chapters in seven major cities of Pakistan. These societies are in Islamabad, Lahore, Karachi, Peshawar, Bahawalpur, Gujranwala, and Multan. The best part is, DHA society provides the best amenities to its customers.
By offering modern designs in the construction of houses, infrastructure, and essential facilities, it has introduced a new life in “Defence living,” that is beautifully vibrant, energetic, attractive, and conveniently livable.