Over the last five years, several new commercial hotspots have emerged in Lahore. The demand for, and value of, commercial property in these areas has increased by 25 to 35% in this time and they are consequently attracting investment from across Pakistan.
Here are four areas where commercial property is available within a price range of Rs 5 to 10 million:
1. Abdul Haque Road stretches between Shahrah-e-Nazria-e-Pakistan and Canal Road. Several banks, bakeries furniture stores, grocery stores and restaurants have a presence there. The recently established Nishat Emporium Mall as well Expo Center are also located along the road.
Available property options: Standalone shops and office and retail space
Outlet sizes range between: 100 and 2,000 square feet
Purchase price range: Rs 50,000-70,000 per square foot
2. PIA Main Boulevard traverses through PIA Colony and serves as a major commercial hub due to the presence of several restaurants and stores dealing in a variety of goods including computers, fabric, groceries and mobile phones.
Available property options: Standalone shops and retail space
Outlet sizes range between: 100 and 1,000 square feet
Purchase price range: Rs 40,000-70,000 per square foot
3. Raiwind Road cuts through several residential districts located on the outstkirts of Lahore. Commercial enterprises suchas banks, car showrooms, hardware stores, restaurants and offices are located there and are increasing in number steadily.
Available property options: Standalone shops
Shop sizes range between:50 and 5,000 square feet.
Purchase price range: Rs 40,000-60,000 per square foot
4. Shahrah-e-Nazria-e-Pakistan runs through several residential
Neighbourhoods including Johar Town, Judicial Colony and Wapda Town. It is dotted with banks, beauty salons, educational institutions, homeware stores and retail stores, in addition to several restaurants.
Available property options: Standalone shops and retail space
Outlet sizes range between: 100 and 2,000 square feet
Purchase price range: Rs 60,000-90,000 per square foot
By Syed Wajeeh-ul-Hassan Naqvi. Information provided by EZ Estate, Lahore.
