When one thinks of a home, one thinks well beyond its walls; one thinks of the smiles that will surround the domain, the lives that will flourish and the lifestyles that will thrive.
And all this is possible in a neighborhood, where like-minded individuals - people who share a vision of exclusive living – come together. This is what Emaar Pakistan has tapped into - an insight that will transform lifestyles of Pakistani real estate.
The joy of stepping out into a beautifully manicured garden only to be greeted by a neighbor standing at her doorstep reading the newspaper headline makes for invigorating living.
It is this sense of closeness that is being brought to Emaar’s project, Canyon Views. Located centrally between the hustle bustle of Islamabad and the homeliness of Rawalpindi, Canyon Views is a hub of activity offering one with the convenience of the city and the serenity of the countryside.
With 24-hour security and maintenance it is a complete haven of tranquility and secure luxury. The uniqueness of this new lifestyle lies in its design and architecture. Built upon inspirations of classic grandeur, Canyon Views is a collection of three villages designed in specific Portuguese, Mediterranean and Arabic architectural styles. Mirador, the Villas in Pakistan with Canyon Views face the lake creating an element of majesty to those that will reside within them.
Emaar Pakistan, the subsidiary of global property developer Emaar Properties, is one of the largest foreign investors in the real estate sector of the country with investments of over US$2.4 billion announced already. The master-planned communities launched as part of the investment bring in to Pakistan the concept of integrated neighborhoods a trend pioneered by Emaar in Dubai, its international headquarters.
Emaar Properties has expanded to Pakistan in line with its Vision 2010 to become one of the most valuable companies in the world through geographic expansion and business segmentation. Today, Pakistan is one of the key markets for Emaar, with the country already contributing to the international revenue stream through sale of Emaar Pakistan’s master-planned communities in Islamabad and Karachi.
Emaar’s approach to property development is to introduce integrated communities featuring the entire spectrum of lifestyle amenities such as healthcare, education, shopping malls and hospitality & leisure. Emaar’s projects in Pakistan – Highlands and Canyon Views in Islamabad and Crescent Bay in Karachi – are integrated communities that bring in a new lifestyle choice to the country.
Pertinently, Emaar’s projects also add to the socio-economic prosperity of the nation by creating employment opportunities and supporting the growth of ancillary industries. This complements Emaar’s vision for Pakistan to partner in the overall growth of the nation by energizing the economy through multi-faceted development.
Emaar has started sale of villas and town homes in Canyon Views in Islamabad, and also unveiled luxury residences in Crescent Bay. Master-planned by international architects and being developed by a team of Pakistan’s leading contractors and engineers, the projects have opened to strong customer response.
Canyon Views features villas and townhomes in varied architectural styles with the Mirador villas and Alma townhomes being hugely sought-after for the luxury finishes and quality fittings. The community is marked by wide open green spaces, meandering walkways and tree-frilled streets. Crescent Bay is spread over an area of 108 acres and features 45 high and mid-rise towers for residential and commercial purpose apart from shopping centers and a five star beach front hotel.
Canyon Views and Crescent Bay have already evolved as models for integrated township development in the country. Currently, contracts are being given out for a variety of construction-related aspects of the two developments. Emaar Pakistan has also reiterated its commitment to the country by hiring and nurturing local workforce in key roles of the company.
The company is introducing the latest construction technologies to the country as part of its commitment to invest in Pakistani real estate sectors in the next two decades. Most recently, Emaar Pakistan launched the Tunnel Form System, an innovative construction technique, which will help Emaar to provide quality residences.
The Tunnel Form System ensures speedy construction, whereby it takes only two days to complete a villa with high build quality and better finishes. It will also eliminate chances of any settlement of foundation and give higher tensile compressive strength to walls and roof by strengthening concrete.
Emaar’s strong project execution capacity as per plan and ability to transfer ownership as per terms has been reaffirmed when Emaar DHA Islamabad Ltd, the joint venture between Emaar Pakistan and Defense Housing Authority (DHA) Islamabad, was assigned the PE1 developer rating by the Pakistan Credit Rating Agency Limited (PACRA) and National Engineering Services Pakistan (Pvt) Limited (NESPAK).
Billed as one of the Next Eleven economies, Pakistan’s economy has undergone a drastic transformation in favor of the Services sector. This has spurred the demand for world-class property – residences, commercial, retail and hospitality which is currently being met by Emaar Pakistan.
Villa living is not merely about spatial dimensions. It also encompasses the essence of community spirit, where people live as one closely-knit neighborhood where, yet, they are assured of privacy. Emaar Pakistan is celebrating this trend-setting choice of homes with Alma townhomes in Canyon Views, Islamabad.
Trends are societal responses to long-standing needs. Sometimes, a new trend rises out of seemingly nothing but in hindsight, it is easy to relate it to expressions of interest raised by the community. This is equally true of iPods or BlackBerry – the current trends in entertainment and connectivity - as of modern living environments.
In Pakistan – as in many other developing and developed nations – the current trend in the realty market is villa living. This is not only the result of a boom in the number of upwardly mobile individuals with high purchasing power but also arises from the affinity by modern families to live in secure, gated, amenity-rich communities. Villas also add a spatial dimension to living – which is equally important in setting the new trend. After all, space is an expression of personal freedom, of creative choices and of pushing one’s limits to the next higher level.
For Pakistan, villas and gated communities also have a historical and cultural significance. It can be traced back to the country’s heritage wherein villages – the first of human communities – were nothing but people living together in independent dwelling units. These villages then evolved as townships and cities with a range of lifestyle amenities.
Today, these integrated communities are being recreated – from scratch, through ingenious master-planning, to create secure gated neighborhoods that ensure the overall welfare of residents apart from meeting their diverse lifestyle needs. At the forefront of setting this new trend in Pakistan is Emaar Pakistan, the country subsidiary of global property developer Emaar Properties PJSC. Emaar is one of the largest foreign investors of real estate in Pakistan sector and has unveiled multi-billion dollar investments in Karachi and Islamabad.
In Islamabad, Emaar Pakistan has rolled out Canyon Views with construction currently ongoing. “Canyon Views addresses the lifestyle choice of modern Pakistanis, who prefer the comfort of villa living in secure, integrated neighborhoods of Emaar Pakistan. “By pioneering the concept of integrated communities in Pakistan, we are clearly setting a trend – a much-desired trend, indeed.”
Emaar Pakistan’s pioneering master-planned communities have ushered in a new lifestyle concept to the country: Designer living in integrated neighborhoods.
As the country moves into a new era of economic and social growth that is powered by the riders of information technology and financial services, Pakistan’s young and upwardly-mobile population has redefined their preferences for their living environments.
The home one lives in, the office space, the community centers – all are an extension of one’s individuality. It is in this context that the master-planned communities introduced by Emaar Pakistan assume significance.
Emaar Pakistan’s path-breaking initiative of ushering in a distinctive lifestyle to the country is now a benchmark for modern community living. Discerning customers now have the option of choosing a living and workplace environment that truly reflect their personality.
The basic philosophy of Emaar in creating these dynamic neighborhoods is to ensure integrated lifestyle environments for residents. The operative word is ‘integrated’ with Emaar creating self-sustaining communities that feature the array of amenities that add to the quality of living.
From a modern family’s perspective, an urban lifestyle environment must feature educational institutions for the children, healthcare facilities for all, leisure and retail choices, entertainment options, fitness facilities and a sense of community living with a vibrant community centre.
The world over, preferences of community living are changing. Today, driven by high purchasing power and the need for luxury living, youngsters seek convenient lifestyle options. This can be provided only through integrated lifestyle environments, which is a core competency of Emaar.
Emaar’s ‘designer’ communities offer all these advantages to residents. This approach of Emaar to create a new lifestyle has been one of the catalysts of the property boom in Dubai, the company’s home market. Emaar’s master-planned communities in Dubai are home to several Pakistani expatriates, who value to the convenience and luxury offered within the neighbourhood.
“Living in an integrated community means that customers, who pursue high-value, high-stress jobs, are assured of a relaxing living environment where their needs are proactively identified and taken care of,” said Mr McCartt. “For overall well-being our communities feature play areas and fitness facilities, and for families there are varied entertainment choices, hotels, community centres, schools and hospitals. These are not randomly assigned. All the amenities within our neighbourhood are carefully planned and positioned for maximizing the welfare of residents.”
Emaar is recreating the same successful ‘Dubai model’ in Pakistan with its master-planned communities – Highlands and Canyon Views in Islamabad, and Crescent Bay in Karachi. These projects are part of a US$2.4 billion investment real estate in Pakistan country by Emaar.
Designed by international architects, the three projects are marked by world-class build quality in an integrated setting. Emaar’s focus on quality and in creating a new lifestyle choice has earned the trust and interest of customers. The launch of Mirador villas and Prados townhouses in Canyon Views received overwhelming investor response. Homes at Crescent Bay, similarly, are poised for strong public acceptance.
The new standards of living rolled out by Emaar are now a benchmark in residential developments in Pakistan. And Emaar’s approach to Designer Living has brought to the country a vibrant lifestyle choice that appeals – both to families and trendy youngsters.
The purchase of an office building represents an investment in commercial real estate. The purchase of a shop in Pakistan is also an investment in commercial real estate.
Investors who want to examine the real estate in Pakistan should first learn something about the nature of development in Pakistan. At the present time, Pakistan has experienced growth in what is called "urban sprawl." Pakistan could benefit from the creation of urban centers, but those who hope to build such centers face roadblocks, roadblocks in the form of government regulations.
Of course not all of the real estate and properties in Pakistan is commercial real estate. One can, for example, find plots of open land for sale within Pakistan. Some of those plots are meant to hold residential buildings. Some of those plots are expected to hold commercial buildings. A third group of the open plots have been set aside for industrial use.
Some open plots are on land that shows no signs of planned development. Other plots might well be on land that already contains one or more roads. Obviously, a plot of land located on a corner would be an excellent investment. The investor might want to speak with local authorities about possible changes in the existing traffic patterns.
Sometimes such changes are needed, if an investor hopes to lure shoppers into a planned commercial building, such a large shopping center. The person who chose to purchase such a plot would need to consider how to make the most money from that plot before buying such a plot, an investor might want to consider the traffic patterns in the area.
The owner of a plot cannot always put a commercial or industrial building on that plot. The owner of a plot might want to build a town house on that plot. The owner of a corner plot might decide to build an apartment on that plot. Either type of residence could provide the plot owner with a dependable income.
If one decides to buy land in Pakistan, and if that plot of land is not in a big urban center, then the land owner might want to offer accommodations to travelers. A plot of land on an island would be a good place to build a vacation bungalow. A plot of land near a scenic spot would seem like the ideal spot for a hotel.
A hotel has the ability to bring conventions and added money to any region that has agreed to the building of that hotel. An investor who intends to put up a hotel should make an effort to emphasize the degree to which a hotel can benefit a local economy. An improved economy in Pakistan would no doubt arise from the building of more hotels in that country.
