Housing Crisis in Pakistan

Housing Crisis in Pakistan - Affordable Housing Solutions For Customers?

Rising inflation has filled Pakistan’s economic atmosphere with uncertainty, and the real estate sector is no different. Like most commodities, real estate prices are also soaring on account of the rising costs involved, and hence prices for residential plots in Lahore have seen a steep rise in 2022. Whether it is plots on installments or properties available on single payment, housing societies in Lahore as well as across Pakistan are struggling to offer affordable housing solutions to customers.

What is truly challenging for real estate developers and housing societies is to manage the rising costs associated with development. Development costs are expected to continue rising in the coming times, however the buying capacity of the customers not only remains the same, but in actual terms has reduced. A declining trend however is also observed in the joint family structure, which means that the demand for residential properties is on the constant rise. The rising cost of living however is the prime reason for the current housing dilemma since the growing demand for residential real estate is thwarted by a declining capacity to purchase.

The need of the hour therefore is to provide smart and affordable housing solutions in a market which is becoming increasingly constrained by price considerations. Where customers are plagued with concerns over unannounced changes in prices, Al Jalil Developers has held steadfast to their promise of delivering quality housing solutions on affordable rates. A huge gap between demand and supply of affordable residential products has been bridged by Al Jalil Developers, which has launched various high quality housing projects under its banner. Al Noor Orchard Housing Scheme and its subsidiary projects take the lead in this regard. Despite its prime location and premium features and amenities, Al Noor Orchard has dedicated all its efforts on keeping the prices at a stable low when there has been a rampant increase in prices by most housing societies in Lahore.

Al Noor Orchard Housing Scheme has launched various sub-projects under its banner to suit the needs of different section of the market. One of the most successful of these projects has been West Marina which has been very popular in the real estate market in Lahore on account of its high-end offerings as attractive price structure. This sub-project is further bifurcated into West Marina Cottages and Villas and West Marina Executive which cater to the needs of overseas and local sections, which are customers with a higher demand for executive living standards. Al Noor Orchard also launched another sub-project by the name of Marina Sports City and its variant Marina Sports City Residencia in 2022 which was even more well-received in the real estate market. Marina Sport City has emerged as truly the most unique housing projects in the Pakistan’s real estate market with a specific focus on providing high-end sports facilities at the most affordable rates to the masses and developing the sports infrastructure and talent for the nation at large.

The strength of a nation’s character lies in how resilient it is in the face of adversity. Times may be tough, however it is these testing times during which we must stand by our nation and people more than ever. Al Jalil Developers has resolved to do its share by providing affordable housing to the masses despite all odds. There is no mountain too high or burden too great that we cannot overcome together If we all similarly decide in our capacity as individuals and groups, to go above and beyond to help make things easier for our people.