What is Lease?
Lease is described as a legitimate/contractual document that outlines the term where one party (owning an asset) accepts to rent property from the other one (the lessor). In other words, A lease ensures the lessee (the renter) use of an asset and guarantees regular payments (lease rental installments) from the lessor (the property owner) for an agreed period of time. Except there is a renewal of the sale or contract of an asset to the lessee, both the renter and the property owner should comply with the terms of the agreement for the lease to remain valid.
Types of Leasing
There are two main types of the lease which are currently being used in Pakistan:
A lease is categorized like a finance lease if it transfers the ownership of assets to the lessee. For instance, a finance lease may be the car lease in which lessee makes periodic payments to the lessor, and after a particular period of time, say after five years, the possession of the vehicle is transferred to the lessee. As in real estate sector, lease agreement for renting a shop is approximately 20 to 25 years in Pakistan.
In an operating lease, the asset is provided to the lessee by the lessor to use that for a particular period of time. At the end of that period, the asset is returned by the lessee to the lessor, and it remains the property of the lessor.
Usually, the lease term is short compared to the useful life of the asset or piece of equipment being leased. For instance, an aircraft that has an economic life of 26 years may be leased to an airline for five or six years on an operating lease.
Ijarah is an Islamic form of lease in which the lessor grants the right to the lessee to use the asset for a particular period of time against payment of lease rentals. By the end of the lease terms, the lessor may transfer the ownership of an asset to the lessee. All kinds of assets ranging from home machines to heavy appliances and commercial buildings can be leased under finance/operating lease and Ijarah.
Leasing Companies in Pakistan
Leasing companies come with the contract that provides possession rights of the specific property. The leasing business is growing in Pakistan due to the awareness campaign regarding its scope and benefits. The advantages of a simple procedure, flexibility, and tax benefits facilitate the customers. Leasing companies in Pakistan include Natover Lease and Refinance Ltd, Askari Leasing Limited, Orix Leasing Pakistan Ltd, Atlas Lease Limited, Dawood Leasing Company Ltd, Network Leasing Corporation Ltd., Askari leasing Limited, and several others.
Through their websites, you can easily find out the updated contact information of leasing companies operating in several cities of Pakistan. Cost-effectiveness and time is something crucial for the customers which is what leads them to select their specific leasing company. Clients look for detailed Leasing companies catalog that gives them a concise overview of all the registered leasing companies in Pakistan.
Shop Available for Lease in Islamabad
Islamabad is known as one of the beautiful capitals worldwide. It is known for the high-standard and elite lifestyle of its residents. Moreover, natural beauty, along with serenity, is another positive point of this city. A few decades ago, Islamabad experienced much of population influx.
As a result, many housing schemes and commercial projects have begun to maintain the overall cycle of life. People from far away & less developed areas have moved and started living in the capital to enjoy the facilities and a better living standard. Though, several commercial centers have also started to entertain this influx of population.
The following Shopping Malls offers shops for lease with the best offers.
Located on the main Grand Trunk road, in the heart of the twin cities (Rawalpindi and Islamabad), Giga Mall is one of the most visited and loved public Malls. Giga Mall Islamabad is known to offer its visitors a fun shopping trip with family or friends. Visitors can explore over 200 plus national and international brands such as Nike, Adidas, Levis, and many more. The Mall has transformed the shopping experience of millions of visitors each year. A leader in retail, entertainment, and attractions, and it is one of the top tourist’s stops across the whole country and is known around the globe. Several shops are still up for leasing at Giga Mall, and you should get in touch with the management of the mall if you are interested to lease a shop at great rates.
D-mall offers six floors of great commercial experience to its visitors. This mall stands out from the rest as it has the first, and one of its kind indoor water park inside a mall in Pakistan. Apart from shopping, the mall offers wonderful water slides and an array of water-based attractions, making it an ideal place for children to have fun while you shop at your leisure.
D-mall is the latest and advanced commercial venture project of Al-Ghurair Giga. The mall consists of local and international brands in large and spacious retail shops. Present in the heart of Grand Trunk Road, DHA Phase-2, situated right next to Giga Mall, makes D-mall easily accessible. Thus, many investors prefer investing in this ideal locality. Several shops are available for leasing at D-mall and one should contact Al Ghurair Giga, which is headquartered in DHA Phase II, if they are interested in getting a spot here.
Blue Area is known to be the central business district of Islamabad and one of the busiest commercial hubs of Pakistan. Huge buildings, wide and clean roads are characteristic features of the Blue Area in Islamabad. You will find many commercial buildings, shopping centers, and towering plazas in the area.
Amazon Mall is considered to be a remarkable grand commercial project. It is a pioneer of theme Malls in Pakistan, based on the Rainforest Theme. It is believed to be a heaven for the fun-loving and adventurous shopaholics.
Located in the outskirt of DHA Phase-2, it is a masterpiece of state of the art architecture and modern engineering technology. It is accessible from Grand Trunk Road, thus making it present in high profile commercial area. Amazon Mall is giving a unique indoor shopping experience along with hyper-market, world-class brands, wellness club, children play areas, business complexes, and rooftop restaurants.
The Aquatic Mall
The Aquatic Mall is known to be the first marine-themed mixed-used commercial and residential venture. It is initiating the bar high for future developments. Still under development, this mall will be Pakistan’s tallest aquarium Shopping Mall. It is facing Giga Mall in DHA Phase-2. As located in the vicinity of DHA, it is considered to be ideal for investment. Aquatic Mall has a food court, corporate offices, shopping areas, children play area, water-theme Park, serviced apartments, pool, cinema, and much more under a single roof. It must be recognized that the marine ambiance would accompany all of these.
Centaurus Mega Mall
The Centaurus Mall is an iconic entertainment, retail, and lifestyle destination that excites visitors with its vibrant mix of entertainment and retail segments. The mixture of the stunning architecture, the size, leisure, quality of shopping, and convenience will drive this Mall to commercial success and transform the modern shopping experience. The Centaurus Mall is located in the heart of Islamabad, which makes it easily approachable from all aspects. This world-class Shopping Mall, comparable to any international Mega Mall, is developed based on the “One-Stop-Shop” concept.