UK's 'One Homes' invests $180m in a luxury mega mixed-use project in Islamabad
Islamabad's luxury residential market has been further boosted by a significant investment from One Homes, a leading UK-based property development company. Along the Murree Expressway, the group plans to build a massive development of one million square feet for residential and hospitality use.
There remains a significant untapped potential in Islamabad's east, which is well known for its picturesque landscapes. In the near future, a multibillion-dollar infrastructure investment is expected to enable controlled development in the region.
Aqib Hassan, Co-founder and Chief Commercial Officer of One Group, outlined the company's strategic acquisition. He stated:
"We are thrilled to have made this latest acquisition, which adds over 4,000 units to our development portfolio in Pakistan.
At One Homes, we leave no stone unturned in identifying key locations that offer not only a superior lifestyle but also offer significant investment upside potential”
As a result of mega infrastructure investments under way, the capital's eastern frontier has become the latest investment hotspot. The area boasts the landscapes of Murree and infrastructure upgrades will now slash travel distances to the heart of the capital by up to 60%.
Experts predict prices in the area will be the fastest growing in the capital with upwards of 100% growth potential in the short-medium term.
When asked about comparing this with the group's other projects Aqib commented:
“Every acquisition must excite us more than the last, that’s a prerequisite to acquiring. Particularly on this, development the serviced residences model that we’re exploring, which will be a first ever in Pakistan will make this one of its kind and a perfect product for our overseas Pakistani clientele.
It’s also our biggest prime city development to date, so the scale means we will be able to really create and deliver something really special”.
A mega resort-style living concept with 255 apartments and townhouses was pre-launched by One Homes in DHA Islamabad recently. The project is currently under construction and is scheduled for completion in 2026.
Regarding the investment climate in Pakistan, Aqib shared his views:
“We have an unwavering focus on Pakistan backed by a solid understanding of the economic fundamentals. As an experienced international group, we can’t be distracted by media sentiments.
We understand the opportunity case of Pakistan and you will be hard placed to find any other location in the world with as much growth potential”.
In the past decade, land prices in Islamabad have surged by as much as 1000%, yet prices persist at a fraction of those in comparable markets in the region, indicating tremendous growth potential, as per data reports.
Aqib further elaborated:
“Whilst others have been fearful over the last 24 months we have been quietly building up our land bank. We have added upwards of $200 million to our gross development pipeline and now our confidence in Pakistan in the tougher time will pay dividends in the months ahead”.
One Homes, part of One Group, is a leading foreign investor in Pakistan. Founded by entrepreneur Zeeshaan Shah, the group has over $400 Million worth of projects in the country. Among the group's recent projects are One Canal Road in Lahore and One Serene Residence in DHA, Islamabad.