Commercial Property Boom in Defence & Clifton


Commercial Property Boom in Defence & Clifton

Karachi, considered a major business hub of Pakistan has several commercial pockets strewn across the city and has a lot to offer in terms of real estate property; outlets in multi-story shopping malls, functional and aesthetically designed standalone retail in varied pocket ranges. The demand of commercial property has escalated by nearly 30% in the last 5 years as more and more foreign brands are entering the market.

Commercial options ranging from 5 to 10 million in the southern region of the city include:

Clifton

The commercial areas of all the 9 blocks of Clifton are well established and considered as one of the most thriving business points of the city with a large consumer turnover. Standalone shops, multi-storied malls, plazas and shopping centers are abundantly available with varied flavors and setups. Malls offer ample parking, round the clock security, lifts and escalators. Shopping centers and plazas usually have minimal parking facilities.

  • Shops sizes: 50 to 600 square feet
  • Price Range: Rs 15,000 to 100,000 per square foot.

Defence

Spread across 8500 acres and divided into 8 phases, each area has a marked commercial pocket. Some of the flourishing markets include Zamzama, Tauheed, Stadium, Saba, Badar, Nishat, Shahbaz, Bokhari, Ittihad, Jami, Phase II-Ext. and Sunset Commercial Area. The setup in these areas is usually based on ground plus 3 and 4 floors structures with showrooms on the ground floor and office space above.

  • Shops sizes: 200 to 600 square feet.
  • Price Range: Rs 6,000 to 60,000 per square foot.

Note: This information is provided by Mr. Muhammad Shafi Jakvani, CEO – Citi Associates. Price variation is due to many reason including location, dimension, and availability of particular type of shops in particular area. It also based on demand and supply and some time follows the market trends as well. All prices are assessed from ongoing market, it can be changed any time and there is no guarantee for any differ. It could vary according to some individual’s need.

Citi Associates – Real Estate Consultancy, Brokerage and Investment Services

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