Due to the scarcity of large, vacant plots in Pakistan’s urban centres, investors are now looking towards land located along highways to establish agricultural, residential and industrial developments. Consequently, demand for property along highways has increased by almost 40% in the last five years and prices by 35%.
Here are four highways in Pakistan along which vacant land is available and attracting investment. Utilities including electricity, gas, sewerage and water are available there.
1. Faisalabad-Khanewal Motorway (M-4) links Faisalabad with Multan. Land is suitable for agricultural use due to the availability of efficient irrigation systems, highly fertile soil and proximity to vegetable markets and cold storage facilities. Plot sizes range between: 1-500 acres. Purchase price range: Rs 1.5-5 million per acre.
2. Islamabad-Murree-Muzaffarabad Expressway (E-75) extends from Islamabad to Muzaffarabad. Land is suitable for housing projects, hotels and recreational avenues; several tourist attractions including Ayubia National Park, Bara Kahu, Chattar Park and Rawal Lake are located nearby. Plot sizes range: Rs 1-4 million per acre.
3. Lahore Ring Road Expressway is an orbital corridor in Lahore; its surrounding areas are ideal for establishing gated residential communities, as well as warehouses due to proximity to major wholesale markets, airport, dry-ports and a railway station. Available plot sizes: 1-100 acres.
Purchase price range: Rs 5-8 million per acre.
4. Ratodero-Gawadar Motorway (M-8) is partially constructed and will eventually link Ratodero to Gwadar. Nearby land is ideal for industrial estates since plot sizes measuring up to 1,000 acres are available. Plot sizes range between: 1-1,000 acres. Purchase price range: Rs 0.5-2 million per acre.
By Syed Wajeeh-ul-hassan Naqvi. Information provided by EZ Estate, Lahore.