banks, car accessories, commercial, eateries, electronics market, fabric, gold market, Golden Chicken Restaurant, government organisations, handicrafts, high demand, home appliances, investment, Jewellery, Kashmir Ice Cream Corner, machinery, medical stores, multinational companies, office space, parking, prices, printing presses, rental, retail, River Indus, Sarafa Bazaar, Shaheed Gunj, Shahi Bazaar, shopping district, Sindh, standalone shops, stationery, Sukkur, Syed Wajeeh-ul-Hassan Naqvi, Tariq Road
Located on the west bank of the River Indus, Sukkur is Sindh’s third largest city and an important commercial hub. Retail spaces are limited and in high demand; purchase prices and rental rates appreciate by 20 to 25% every year.
Here are Sukkur’s top three commercial areas that are attracting investment from across Pakistan:
Sarafa Bazaar: Located along Sarafa Bazaar Road, Sarafa Bazaar is best known for its myriad jewellery shops, making it Sukker’s largest ‘gold market’. Shops selling fabric, stationery and handicrafts are located there as well as well-known eateries such as Golden Chicken Restaurant and Kashmir Ice Cream Corner. Commercial property options include standalone shops and retail space in low-rise buildings; parking space is limited.
Shop sizes: 50-500 square feet.
Purchase price range: Rs 28,000-35,000 per square foot.
Monthly rental range: Rs 250-300 per square foot.
Shaheed Gunj: Located on Shaheed Ganj Road, Shaheed Gunj is Sukkur’s largest electronics market; countless shops dealing in home appliances, car accessories and machinery are located there. This commercial hub also is also home to several medical stores, banks and the offices of government organisations and multinational companies. Commercial property options include office space, standalone shops and retail space in low-rise buildings with ample parking space.
Shop sizes: 100-2,000 square feet.
Purchase price range: Rs 25,000-30,000 per square foot.
Monthly rental range: Rs 200-250 per square foot.
Shahi Bazaar: Located on Tariq Road, Shahi Bazaar is one of Sukkur’s oldest shopping districts. It is well-known for a plethora of shops that deal in everything under the sun, be it fabric, groceries, handicrafts and home ware. Additionally, several clinics, printing presses and eateries have a presence there. Commercial property options are limited to retail space in low-rise buildings; parking space is limited.
Shop sizes: 50-1,000 square feet.
Purchase price range: Rs 25,000-28,000 per square foot.
Monthly rental range: Rs 180-220 per square foot.
– Syed Wajeeh-ul-Hassan Naqvi
Information provided by Fazal Associates, Sukkur
First published in the Real Estate Section of The DAWN National Weekend Advertiser on March 9, 2014.