Anarkali Bazaar, antiques, bags, Bano Bazaar, books, carpets, Churi bazaar, commercial property, crockery, curtains, Delhi Gate, Dhoni Ram Lane, eateries, educational institutions, electronic appliances, fabrics, Gumti Bazaar, handicrafts, handmade khussas, hospital, Kesra bazaar, Landa Bazaar, Mall Road, mosques, Parking space, Retail space, Shah Alam Gate, Shah Alam Market, shops, Suha Bazaar
Commercial property in Lahore’s historic bazaars continues to be in high demand due to steady investor interest – despite the increasing number of high-end retail space in malls. This is because people from across the city continue to frequent these bazaars – irrespective of their income level. Property options include standalone shops and retail space in low-rise buildings. Prices increase by 10 to 15% every year, while rentals increase by seven to 10%. The projected monthly rental yield ranges between eight to 10% of the purchase price.
Three markets of Lahore that continue to attract investors include:
Anarkali Bazaar islocated near Mall Road and offers antiques, books, fabrics and handicrafts. Located within Anarkali Bazaar are Bano Bazaar, well-known for jewellery shops as well as fabric and Dhoni Ram Lane which specialises in high-end crockery.
Facilities include: Banks, eateries, educational institutions, a hospital, mosques and parking space.
Shop sizes: 50-1,000 square feet.
Purchase price range: Rs 12,000-23,000 per square foot.
Monthly rental range: Rs 100-200 per square foot.
Landa Bazaar is located opposite Delhi Gate, and is Pakistan’s largest flea market. Everything under the sun – be it bags, carpets, curtains, crockery, electronic appliances, handmade khussas, tents and even tractor parts – is available there.
Facilities include: Banks, clinics, eateries, mosques and educational institutions.
Shop sizes: 30-3,000 square feet.
Purchase price range: Rs 10,000-20,000 per square foot.
Monthly rental range: Rs 80-200 per square foot.
Shah Alam Market is located near Shah Alam Gate. Shops primarily deal in crockery, electronic appliances, homeware, jewellery and perfume. Smaller markets within Shah Alam include Gumti Bazaar, known for artificial jewellery, Churi Bazaar for bangles, Suha Bazaar for gold jewellery and Kesra bazaar for metalware.
Facilities include: Banks, eateries, mosques, parking space and schools.
Shop sizes: 25-2,000 square feet.
Purchase price range: Rs 10,000-19,000 per square foot.
Monthly rental range: Rs 70-200 per square foot.
– Syed Wajeeh-ul-Hasan Naqvi
Information provided by EZ Real Estate, Lahore.
First published in the Real Estate Section of The DAWN National Weekend Advertiser on May 18, 2014.