Jones Lang LaSalle real estate services in Pakistan

Located on the crossroads between centuries old Chinese Silk Route and the ancient Indus Civilization, Pakistan is also strategically placed to be on the trade route between Central Asia, Middle East/Europe and the Far East. With over 1,000 kms of coastline, along the Arabian Sea and the Gulf of Oman, it currently provides alternative port facilities to the region’s newly emerging business hubs in the Middle East.

Pakistan is home to 170 million people and has emerged as the sixth most populous nation in the world.  With strong macro economic fundamentals, the economy has grown at a CAGR of 7% over last five years, making it the most emerging market after South Korea in the ‘next eleven’ (N-11) countries that have been identified by Goldman Sachs and form the largest upcoming economic block, along with BRICs economies, i.e. Brazil, Russia, India and China.

Resilient in policies of trade and investments, Pakistan has witnessed sharp increase in growth in the tourism & hospitality, construction, real estate and banking & services sectors over the last decade. This has significantly changed the structure of the economy from it being agriculture based in 1990’s to a strong service oriented structure in current times. This has lead to a strong human resource and capital development, whereas other competitive economies of the region have focused on enhancing the manufacturing and industrial base.

Despite economic volatility and political instability over last few years, Pakistan has received large foreign direct Investments and portfolio investment that find their way into the major bourse and in different sectors, especially the energy, telecommunication and real estate markets.

Since 2000, Pakistan’s real estate sector has grown buoyantly with consistent increase in the capital values. Due to Government’s successive investment into construction and banking sectors, a ripple effect of new schemes and developments all across the country has been observed, especially in the metropolitan cities of Islamabad, Lahore and Karachi. Infrastructure initiatives for transport and housing are being executed and cover other smaller urban and suburban areas, where affordable housing schemes have been announced. Demand for residential and retail assets is buoyant as population growth in middle income group (estimated to be largest buyers group) is high. Ever changing lifestyles coupled with retail oriented urban developments in all cities and development of hotels has highlighted the demand from tourism industry.