Farhan Aziz Khawaja, the Managing Director of Punjab Small Industries Corporation announced the government’s plan to turn South Punjab into an industrial hub.
According to news report, the Managing Director briefed the media about the government’s intention of developing no less than eight industrial estates in the less privileged part of the province. Southern Punjab, which comprises of districts Rajanpur, Muzaffargarh, Layyah, Dera Ghazi Khan, Rahim Yar Khan, Bahawalnagar and Vehari etc, is the poorest part of Punjab. Setting up Industrial Estates within these areas would not only help raise the standards of living of these people but also give substantial value to Pakistan real estate.
How does it affect real estate?
It is common sense that before buying property, you make basic inquiries about the availability of water, gas and electricity. Nobody wants to even consider purchasing a plot that does not have gas! That’s exactly the case with the properties in these areas, which, rest assured, is going to change with the government’s new development project.
The development of the said industrial estates can greatly benefit the realtors and investors in Southern Punjab. It might come as a surprise to some of you, but the ugly truth is that South Punjab is where most of the people are still deprived of basic human rights. The availability of drinking water in most of these areas is scarce. The establishment of industrial estates there presents a prospect of the availability of drinking water. The water supply to this area will definitely add to living standards and thus the property value of surrounding areas.
The other amenity expected to be bestowed upon this most neglected part of Punjab is the supply of gas. Most of the districts in South Punjab are not linked with the gas supply line. By turning parts of these underdeveloped districts into industrial hubs, the government will have to install a gas pipe lines in the areas, which will definitely benefit the surrounding areas and give some boost to the real estate in Pakistan Electricity, that’s one high voltage word which might just really change the fortune of the people of South Punjab. It is impossible to set up any kind of industry without power supply. With the virtue of these industries, if and when electricity finds its way to any of the real estate property surrounding the areas, one can be sure that the prices of these properties would surge.
All of the above mentioned things would definitely give a wakeup nudge to the value of properties in Pakistan.