The trend of establishing multi-purpose sports grounds gaining traction in Pakistan and their number has increased by an estimated 20% in the last three years.
There sports grounds are considered to be lucrative investment options as return on investment (ROI) ranges between 25 and 35% over a period of one year. Furthermore, their value appreciates by 12 to 15% every year.
If you are thinking about establishing a multi-purpose sports ground, factor in the following:
1. A sports ground can only be established on a commercial or an amenity plot; plots sizes usually range between six and 10 acres (29,040 and 48,400 square yards respectively).
2. Approximately 10 to 20% of the total of total area is built-up, and dedicate to a stadium or a viewers’ enclosure, changing rooms, gymnasiums, fitness centers and cafeterias.
The remaining space is used to serve as grounds where sports such as cricket, football and hockey can be played, as well as jogging tracks, swimming pools and tennis courts.
3. The cost of established a sports ground ranges between Rs 90 and 120 million. The annual maintenances costs usually amount four to six percent of the total cost.
4. Areas where sports grounds are increasingly being established include:
Islamabad: Sectors F-10 and l-9
Karachi: Clifton, Phase VIII, DHA and Gulshan-e-Iqbal
Lahore: Phase III and V, DHA Johar Town
5. The price ranges (Per square Yard) of sports ground are as follows:
Islamabad: Rs 70,000-100,000
Karachi: Rs 80,000-150,000
Lahore: Rs 65,000-100,000
By Uzma Khateeb Nawaz. Information Provided by Karachi Estates