Allama Iqbal Road is a bustling commercial hotspot which stretches from Jheel park to Kashmir road and passes through Khalid bin Waleed Road and Tariq Road. It is named after Sir Muhammad Iqbal, Pakistan’s national poet, who envisioned Pakistan’s creation and whose 140th birthday will take place on November 9.
Clothes, jewellery and a whole lot more…. Allama Iqbal Road is lined with stores of every kind, which deal in fabric, fashion accessories, jewellery, shoes and sportswear. Nearby are the well-known Dupatta Gali, Kurta Gali and sunar Gali which are especially popular during the wedding season; prices are lower there when compared to other shopping hubs in Karachi.
A significant number of salons, catering to men and women, as well as auto- repair shop, banks, car showrooms, educational institutes and wedding halls also have a presence, in addition to a few small parks.
A foodie’s delight… A plethora of roadside eateries, as restaurants can be found there. Food on offer ranges from snacks such as bun kababs and samosas to desi barbeque and mithai. If these choices are not enough, you can head to the nearby Tariq Road, a foodie destination of sorts with plenty of choices including burgers, Chinese food, falooda, kulfi, nihari and shawarmas.
The real estate take… Commercial property options include standalone shops and retail space in low- and high- rise building. Residential property options include high-end apartments which have been established within the last five years and houses built on 250 and 500 square yards plots. Demand for, and the value of, property increase by nearly 20% each year. Rentals are high and increase by 12 to 14% annually.
In a nut shell…. With a wide range of foodie and shopping options, Allama Iqbal Road is a one – stop destination for people living in Karachi.
By Uzma Khateeb Nawaz
REAL ESTATE PRICE GUIDE
SHOPS
|
SALE | RENTALS |
300 sq ft | 6-12 million | 80,000-90,000 |
500 sq ft | 15-32 million | 120,000-200,000 |
1200 sq ft | 35-60 million | 400,000-600,000 |
OFFICE SPACE
SHOPS | SALE | RENTALS |
1,200 sq ft | 32-45 million | 280,000-380,000 |
1,800 sq ft | 50-65 million | 3800,000-650,000 |