In previous few years, Pakistan’s economy faced a slow down from the impact of regional unrest and global financial crisis and now statistics and previous year’s performance report indicates that 2013 will prove to be a year of blockbuster growth for the economy. 2013 is just a quarter old but the market is showing some promising signs already including real estate market, trade and tourism front as well as return of investors’ confidence. Islamabad, the Federal capital of Pakistan, which is believed to be the most attractive city, is exhibiting some genuine signs of market recovery.
Islamabad is the city of bigwigs of Pakistan and is powered by a number of sectors including real estate, tourism, business and the financial hub. Let’s look at few sure signs, which point towards broader economic growth for the federal city and the country alike.
Tourism is Booming
Besides being home to Federal Government employees, Parliament House and several Politicians, the city is also a magnet for tourists. Islamabad is the only name that comes into your mind, when you want a peaceful place to unwind your tired soul. The city is becoming something more than a 9 a.m-5 p.m. city, as it adds more to its charm. The city hosts a number of tourist attractions like Margalla Hills, Saidpur Village, Daman-e-Koh, Lake View Park, Shakarparian and Pir Sohawa which attract hundreds and thousands of tourists every month. Though consolidated numbers of the tourists visited Islamabad in the first quarter of 2013, but the data indicates that Islamabad topped the country in terms of hotel occupancy level throughout 2012 and in Q1 of 2013 as well.
The government is very much interested in further boosting the numbers of tourists to Islamabad. So, it has taken a number of initiatives to enhance the country’s position in global markets. Several new hotels, shopping malls and parks have been planned to develop in Islamabad. Government is also focusing on tourism because it is considered that tourism can indirectly boost real estate sector and Pakistan government is intended to give a boom to real estate sector.
Property Prices are increasing
Certainly, you do not need any statistical proof to figure it out that property prices in the federal city are increasing. A number of residential projects and commercial developments were launched by the end of 2012 and are scheduled to start later in 2013 to entice local and international inventors. It is because government and developers are well aware of the fact that Islamabad is one of the most desired areas in Pakistan to buy properties to live in or to earn profit in the long run. The increasing demand and the peaceful environment of the capital are the two basic reasons behind Islamabad real estate getting expensive gradually. Several state of the art residential communities like Gulberg Islamabad, Bahria Town and Bani Gala are launched in previous few years to give various choices to property buyers and investors.