Adnan replied on Thursday, April 5, 2012 05:08 AM
Dear Maqsood
Dubai property boom followed a boom in real estate throughout the world, and the collapse started from UK subprime market into the US mortgage crisis, into Scotland and to the rest of the world. I was in Dubai during the recession and there were more buildings than people, there still are. In Lahore DHA on the other hand, the development is based on the fact that the population of Lahore has risen from 5 million in 2005 to around 10 million in 2012. As DHA is the most reliable and best developer, therefore, it is only natural for genuine buyers as well as investors to put their bets on DHA as the prime real estate. If you look at the history of all DHA sectors, each sector has taken less than 5 years to fill up with houses to conjestion from the date of possession of plots. In case of phase 7, for example, if the handover of plots happens in 2013 (which it should), we will see major construction and development boom until it is full by 2016. Also, due to the unrest in Karachi, a lot of people are winding up, specially Punjabis that moved to Karachi long time ago for business or work, are coming back to Lahore and need housing. My two uncles are among these people who were being harassed by Bhatta Khors in Karachi, so they left for Lahore and are now in the process of buying property. Therefore, DHA Lahore will not be another Dubai and there is genuine demand available for DHA, IT IS NOT A PROPERTY BUBBLE. |
