EMAAR IN PAKISTAN

Emaar Properties, the leading property developer, announced three real estate developments in the cities of Islamabad and Karachi in Pakistan. The projects, with a total investment of AED 8.8 billion (US$2.4 billion), will include a series of master planned communities that will set new benchmarks in commercial, residential and retail property within Pakistan.The nation’s capital, Islamabad, is home to two Emaar Pakistan projects: the Highlands and Canyon Views. With 1,500 acres between them the Islamabad communities offer 9,000 luxury single-family town homes and villas in a range of architectural styles with easy access to amenities including retail centres, community club houses, parks, lakes, schools and mosques. Karachi will be home to Crescent Bay, a 75-acre development featuring high- and mid-rise towers for residential and commercial use, a shopping centre and five-star beachfront hotel. The towers will contain approximately 4,000 residential apartments. Mohamed Ali Alabbar, Chairman, Emaar Properties said Pakistan represented a vital link in Emaar’s global and regional plans. “These current projects are only a small and initial part of our commitment to providing world-class living and infrastructure in Pakistan,” Alabbar said. He added: “Pakistan will play an important role in the development of Emaar’s reputation in Asia, and remains one of our most significant commitments outside of the UAE.” The Highlands development is located within the Defense Housing Authority Islamabad (DHAI) Phase 1 extension and Canyon Views is within the DHAI Phase 2 extension. Offering approximately 50 separate community districts with its own individual identity, a spectrum of architectural styles ranging from Mediterranean, Tuscan, Mughal, Arabic and Spanish, will be available to select from. Crescent Bay, located within Karachi’s DHA Phase 8 and in close proximity to the DHA golf course, will also offer individual architectural styles for each tower within the development. All three projects are expected to be completed in the next four to five years.Mohammed Al Falasi, Managing Director of Emaar Pakistan said: “Our goal is to create a series of exciting developments that set new standards for commercial and residential property. Highlands, Canyon Views and Crescent Bay will set these standards and are the first of many projects that we have planned for other cities in Pakistan, which we will be developing over the next few years.”World famous master planners on the Crescent Bay development are Halcrow International with architects Norr and Holford while master planners WATG, RNL and JZMK are working on Highlands and Canyon Views projects.Architects for the Islamabad projects are Mazen N. Issa, Alexandra Hayes, Bassenian Lagoni and Saunders & Wiant. The master planners have brought inspiration from the world’s best designed residential communities to Pakistan – offering another Emaar signature landmark to the region.Al Falasi added: “Furthermore, we are aiming to preserve 20 per cent of the project area as green space, offering a haven of peace and natural beauty in the middle of a thriving community.”Emaar’s innovative offering of self-contained, amenities-rich communities have created lifestyle options that have been the first choice for many residents around the world. The integration of schools, health facilities, parks, landscaped grounds and retail centres into master-planned golf, equestrian and marina-themed lifestyles has proved a winning combination.With joint ventures and projects covering Saudi Arabia, Syria, Morocco, Egypt, Tunisia, Turkey and India, Emaar is taking its winning formula first conceived in its home base Dubai to the rest of the world.

Pakistan”s Real Estate Delegation at CityScape 06” Dubai.

The real estate agents delegation headed by Mr. Zahid Iqbal – CEO PakRealEstate.com visited the CityScape 2006 International Real Estate Exhibition and Conference in Dubai last week. The delegation has rendered singular service to the cause of development and promotion of foreign investment in real estate sector of Pakistan. Cityscape 2006, featured over 500 Real Estate companies from 32 countries – and was billed as the largest gathering of Real Estate professionals from across the globe. The highlights of Dubai business trip were:• Networking with over 150 exhibitors consisting of Real Estate agents, builders, servicing companies, associations and IT companies on one-on-one basis.• Developing a general understanding of how other real estate companies across the world do business.• Understanding the Dubai market and investment potential, industry standards, marketing & sales tactics and logistical issues and general trends of Dubai.• Positive response from several foreign investors.In a nutshell, the achievements gained by our delegation may be described as exposure i.e. knowledge gained through meetings with the best minds of property business from all over the world for 3 days. The best responses were gained from Real Estate servicing companies whose clients are increasingly interested in working in Pakistan.Another outstanding performance of the delegation was its rapport established with the National Association of Realtors (NAR) America. This Global body has a presence in over 22 countries. The said Association has agreed to come to Pakistan in order to conduct educational courses for real estate agents in Karachi, Lahore & Islamabad.The 20-member delegation also discussed possibilities of joint ventures with the top investors participating in the exhibition. These joint ventures are now in process and will materialize successfully in the very near future.Cityscape was an eye-opener for those who attended. From small ideas, to big relationships – the three day event was a success, and has convinced the delegation of the importance of attending overseas and local exhibitions.

How to Sell Your Home at the Highest Possible Price?

Making a mistake in selling a home can cost you hundreds or thousands of rupees in lost profit. Often home sellers make the same mistakes over and over. Avoiding these mistakes is easy and takes little time and effort on your part. Take the time with your home sale and follow the guidelines in this report.1. Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your home without looking desperate and making yourself a target for low bidders really pays off. Know all there is to know about the market before listing and work hand in hand with the right real estate professional. Ensure that you are not settling for the first offer through the door.2. Best Home in the Neighborhood: Your home is one of your most personal possessions. Don’t be blind to flaws and needed cosmetic improvements. This will cause overvaluing of the home, hurting its chances to be sold. Getting in touch with the right real estate agent gives you a well informed third eye that will help you price your home at a fair market price.3. Limited Home Viewing: Buyers want to view a home on their own time schedule. Unfortunately their time schedule does not always coincide with your time schedule. Leave a lockbox or key with your agent so your home can be shown when you are not around. You never know if the one who got away was your buyer.4. Restrain Emotional Decisions: Don’t allow a few thousand rupees to ruin a sale. That money will mean very little to you in the long run. Take a look at the big picture and react rationally. Use sound business judgment!5. Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in selling your home. Spending Rs.10, 000 on new carpet might add another Rs.50, 000 to the price of your home. Get an objective point of view from your real estate professional. They can provide you with a list of items that will maximize the profit of your home sale.6. Disclose Property Flaws: Property disclosure laws require sellers to list any flaws required by your state. If you are unaware of flaws or attempt to cover them up, you risk losing the sale and finding yourself in court. Get professional assistance from your agent who can introduce you to qualified inspectors and ensure the smooth sale of your home.7. For Sale by Owner: Most homeowners who decide to sell their own home do so because they believe they can save the commission paid to the real estate agent. Everything has a price and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the "For Sale by Owner." Furthermore, many costly mistakes can be avoided with the right guidance.8. Refusing to Trust Your Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right Realtor, you can relax and trust their judgment. The right agent is a valuable team member who will protect your best interests and make your sale as profitable as possible.9. Know Your Market: Most homes that do not sell in their first period are priced too high. Conversely, most homes that sell quickly are priced too low and cheat the homeowner out of profits. You need to understand the market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom. A professional agent knows the market, just as you know the market for your business.10. Choosing a Realtor Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Choose an agent with a strong track record and aggressive Marketing Plan. A top producer knows the market well and can generate many buyers. Selling your home is one of the most important decisions you’ll ever make! Base it on good, sound business sense and the rewards will add up. Before you make one of your most important decisions regarding your home sale shouldn’t you become as informed as possible? By aligning yourself with a top agent you ensure that all the important issues and seemingly insignificant but....very important....details are handled professionally. Your home sale should not be a grueling ordeal. The more informed you are the better chance you have of making a sound business decision.

The new face of real estate

Change is essential in today’s business world. During the past few years the developments in information technology and other related fields have tarnished many myths and traditional thinking; Real Estate, being a vital part of the economic activity in Pakistan, is no exception to this rule.The Real Estate industry’s new face is rapidly catching up with the changes in the technological domain; in other words Pakistan real estate industry is trying to catch up. Over the years real estate portals multiplied in Pakistan and Pakrealestate.com pioneered this new era of real estate industry. Many more are in the pipeline while the operating ones have earned the customer’s confidence.The IT revolution is penetrating all facets of the industry and is propelling the industry into un-chartered territory. The companies now can conveniently forge business links or enter into some kind of partnerships with overseas counterparts or within Pakistan. It can be said that IT had added a global face to the real estate business. This affected the industry in many ways i.e. the increase in the quantity of available information has led to better quality information which, in turn, has led to better-informed consumers. Armed with more information, consumers are demanding more specialized services as well as better service from real estate agents. As the Real Estate industry grows, it will be more dependent on Information Technology to lead the way. IT can connect people, places, and information instantly – and this has particularly served Pakistan's Real estate industry because of the large expatriate community which is always looking for good investment options back home. Purchase or sale of a home or investment in property is a significant financial event in your life. But you no longer need to roam the city backstreets in the scorching sun to find a home. Just log on Pakrealestate.com, where real estate in your desired destinations anywhere in Pakistan is just a click away.

Foreign investment in Pakistan real estate

Pakistan real estate market has never been so conducive and friendly to foreign investment as it is now. Some of the world best developers are in the market with ambitious and grandiose projects. It will necessarily result into the revival of the industry which is a bit sluggish in the aftermath of the boom. Keeping in view the growing purchasing power of the consumers the developers surely will get positive response. In addition to this these mega projects also generate thousands of jobs and their span is spread over many years, so these will act as catalyst in the revival of the associated industries. More than 40 industries are associated with construction industry; therefore, the construction activity means healthy economy and prospering industries.Here is a brief description of the major foreign real estate investment made in the country or in the pipeline.Canyon View & Highlands Islamabad:These are being undertaken in DHA Islamabad by the leading Dubai property developer Emaar. These projects are spread over an area of 1,500 acres and offer 9,000 single family luxury town homes, villas, retail centers, community centers, parks, lakes, schools and mosques etc. Canyon Views is located within the DHA Islamabad Phase II extension and Highlands within the DHAI Phase I extension. The Two projects offer 50 separate community districts with exclusive architectural styles ranging from in Mediterranean, Tuscan, Mughal, Arab or Spanish. Canyon Views and Highlands are a part of US$ 2.4 billion investment in Pakistan which is a part of the Emaar”s Vision 2010 of becoming one of the world”s most valuable companies through focused expansion and diversification.Crescent Bay Karachi:Crescent Bay Karachi is a mixed commercial and residential project and spread over an area of 75 acres. It is situated in DHA Phase VIII in close proximity of the DA Golf Club and being developed as a part of US$ 2.4 billion dollars investment by the UAE property giant Emaar PJSC. The towers will contain nearly 4000 residential flats. The project offers individual architectural styles within each tower. It also offers a shopping center and five star beachfront hotels. Diamond Bar Island City:Diamond Bar Island City is another ambitious project of the Emaar Properties Dubai. It is being developed on two islands near Port Qasim Karachi with an estimated outlay of US$ 43 billion. The government of Pakistan has approved the project. Under this project Emaar will construct homes and apartments at Bundal and Buddo Islands which are spread over an area of 12,000 acres and this project will complete over a period of 13 years.The island will be linked to the DHA Phase VIII through a bridge at a cost of US$ 50 million. The islands are located at a distance of 1.5 kilometers from Karachi”s DHA phase VIII. The initial plan envisages about 15,000 homes that will be sold to the public interested in the new city. In addition to this commercial plazas will also be constructed there to promote commercial activity.Sugar Land City Karachi:This is another ambitious and futuristic development planned at the Hawksbay Karachi. It is spread over an area of 60,000 acres and shall be developed by a Dubai World affiliate Limitless. The development envisages shopping malls, plazas, apartments, town houses, Beaches, Resorts and Hotels etc. Phase I of the project will involve investment of US$ 20 billion over the period of next 10 years and 2,000 hectares of waterfront property and other phases are expected to attract much larger investments. It will contain a defined and carefully weighted balance of residential, commercial, recreational and entertainment facilities.