Lahore where on one hand is a
home to various historical buildings from the prehistoric times of Mughals, also
adds a lot of plazas to its real estate roster. The infrastructure of the
metropolis has largely changed because of the various changes that real estate
sector has brought for it. And with increasing number of plazas, Lahore where it
is spawning horizontally, also reaches the vertical highs with its high-rise
buildings. Zameen.com, a well-known property portal of Pakistan, observes
movements in the real estate sector of Lahore and its property analysts are
witnessing an increasing demand of plazas in the city.
You can deem it a trend in Lahore that plazas here are dedicated for specific
niches and businesses. For example, the Latif Plaza is a home to jewellery and
ornaments. Haifz Centre remains steadfast to the trading of mobile phones,
computer devices and other gadgets of the similar nature. Arfa Tower, is devoted
to the I.T education and last but not the least, Aurgia Complex outshines for
clothing trades. Moreover, there are plazas in Lahore which are solely meant for
parking the vehicles. I guess, the city needs a food plaza too. Although, it has
a food street, but a particular plaza dedicated for the food items and
restaurants would be a good addition to the list.
Lahore also nestles plazas meant for varied purpose. There are plazas which
offer commercial spaces to the business and on the other hand also provide
abodes to the residents. Plus, some plazas are hostels to some students who come
to Lahore for pursuing their study programs. The City Tower, Gold Mine Plaza and
The Mall of Lahore are such few examples.
Even the investors find their earnings prospects in plazas and treat them as a
real estate trading item. But It is also not true that with these plazas running
aground the other properties, plots and houses for sale in Bahria Town, DHA,
Gulberg, Johar Town and other posh localities of Lahore are losing their glamour
in the eyes of investors. Nevertheless, the plazas still get a reasonable share
from the investors.
The LDA (Lahore Development Authority) needs to come forward to play its role in
upholding the plaza sector further. Plus, the laws and regulations need to be
devised for catering to the encroachment issues and the cleanliness of plazas.
And last but not the least, safety laws are needed to be formulated, so that the
risks related to the fire, electrical glitches, sanitation and other perils
could be avoided.