Investors in Pakistan are allotting more capital to the real estate industry. They are concentrating on a specific set of cities that share the traits of transparency, good governance, a quality education system, and novel city design. As a result, Multan is becoming the talk of the town and a prime focus for these investors. This city is one of the most well-known cities in Pakistan, attaining fast development in its infrastructure due to stable socio-economic and political affairs. More and more people are moving here from surrounding regions due to the city’s lucrative opportunities. Consequently, real estate investments are becoming dense in this area. Many residential and commercial projects are flourishing and shaping the bright future of Multan. Moreover, the city has emerged as a low-risk destination for investment in Pakistan, adding more to its reputation and distinction. It can adapt to fast global changes and trends and show good productivity in growth sectors. All these factors have resulted in Multan acquiring a strong and prominent position as one of the most developed cities in Pakistan.
Reasons You Should Invest in Multan
Choosing the correct investment in the fastest-growing urban panorama requires intelligent strategy and smart decision-making. Selecting the best locality is significant in this process as it can influence property value, the lifestyle of residents, and market trends. For this purpose, Multan offers the best residential and commercial real estate opportunities. Multan is the 5th largest city in Pakistan by population. The city is developing at an accelerating rate. Multiple real estate projects are either rising or are under construction. The city’s quick adaption to advancements in technology and trending lifestyles has also led to the development of various housing localities. This city is the centre of commercial enterprise, making it a hub of foreign investments. Moreover, this city’s thriving real estate market has attracted government interest in spending funds on establishing the city’s infrastructure, roads, schools, and so on. As a result, the city’s urban landscape is rapidly growing. For example, DHA Multan has the potential to boost the real estate market and attract local as well as foreign investments. Moreover, a housing society in Multan has observed a 15% increase in housing prices over the years (Altaf, 2016). The increasing real estate activities in Multan are creating business opportunities and leading to the country’s economic growth. This city’s real estate has massive potential and is full of profitable opportunities. From a development and economic perspective, Multan is considered one of the safest and best cities for real estate investments.
The following are the reasons one should invest in the real estate sector of Multan.
High Investment Possibilities
The real estate market of Multan is expanding at an exponential rate and has minimum saturation. As a result, this city offers massive space, greater potential, and investment capacity. There are multiple investment options, such as residential and commercial projects connected with the main city and not far away. Moreover, agricultural land is also seen as a larger part of real estate projects leading to a surge in prices in a short period.
Growing Demand
Punjab’s real estate can make Rs. 400 billion in tax revenue (Mughal, 2022) and Multan is contributing massively to this market. Multan is the cultural, economic, and religious centre of southern Punjab. This region’s property is high in demand due to growing infrastructure projects. This has led to a cost surge in housing prices, improved living standards of residents, an increase in demand for land, and a rapid rise in foreign and local investments. This region is also in demand on administrative grounds resulting in the construction of various projects in and around the city.
Contemporary Developments
Multan is renowned for quick technological adaption and modern developmental projects. These projects are remarkably reliable, highly maintained, and skillfully landscaped. For example, a residential housing society in Multan provides world-class amenities and modern features in prime locations leading to massive investments. Moreover, these contemporary developments are accessible from all exit points of the city thus making them ideal for investors.
Commercial Growth
Commercial activity is rapidly growing in Multan. Infrastructures like Metro cash and carry, Ramada, and PC hotels are creating an influx of traffic for these places leading to the growth of surrounding businesses. Commercial-based projects in the city are also growing, boosting the economy, and attracting more investors and similar businesses. For example, IMARAT Group, one of Pakistan’s leading real estate groups, has announced the construction of its fourth hotel, Fairfield, by Marriott in DHA Multan.
Cost Surge
The development and growth of new infrastructure projects, along with the upgrading of the sewerage system have led to a price increase of 100% to 150%. The majority of people from nearby regions and cities are moving to Multan due to the availability of motorway linkages, quality education, and a modern environment. This is causing a rise in demand for housing units in the city as a result. The government and multiple real estate companies are showing interest in this real estate market which is causing a surge in property value and cost as well. This city is expected to stand up to the modern character of a metropolis leading to great profits for the investors.
Future Trade Center
Multan has the potential to become a centre for future trade and infrastructure projects once CPEC is fully functional. This project will lead to overall development in the region, attracting foreign entrepreneurs and investors. The demand for commercial, residential, and agricultural infrastructures will increase as a result leading to an economic boom in the country.
Way Forward
The government should provide incentives to the real estate industry and make the process of local and foreign investments hassle-free, transparent, and digital.
Need for digital mapping of the entire city.
New development and infrastructure projects in Multan should follow and adapt green practices, modern trends, and vertical development to attract prospective clients.
The government should strengthen its taxation, housing, urban planning, and development policies to keep the saturation low in the real estate market of Multan.
Conclusion
Multan has become one of the hottest trends in the real estate market of Pakistan. Increasing political activity, job opportunities, high employment, and a low saturated market have accelerated the city’s real estate value and demand. Moreover, investments in this city are growing rapidly due to modern developments, updated amenities, market trends, and investment opportunities. For example, investment in Marriott international hotel will not only boost tourism in this region but also contribute towards social productivity and business growth. As a result, Multan is emerging as a leading city in Southern Punjab regarding future investments, easy instalment plans, and profitable returns. This city is expected to grow even more and has the potential to take Pakistan’s stagnant economy to next level.
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