DHA Lahore every rose has its thorn
DHA Lahore every rose has its thorn
DHA Lahore is undoubtedly the most successful of societies in entire Pakistan. DHA Lahore has delivered where others have failed, it has attracted billions of investments from all over the globe and people all across Pakistan trust the name. There is no other society which comes up to the expectations as DHA Lahore, the only one close enough is Bahria Town which has earned a bad name for market manipulation and drastic price changes.
Every investor who puts his money in DHA Lahore is sure that his hard earned money is safe. This very security and safety ensures DHA Lahore to be the magnet of investors from all over Pakistan. However there is a flip side to the coin as well , which is actually not very pretty.
Like every other developer DHA Lahore has also met a few failures as well but they always get the benefit of the good will. I believe that for a land lord while safety of his money is the main issue in Pakistan but at the same time returns on his investments is equally important. DHA Lahore however is not doing enough to keep its legacy and in my personal opinion the private public sector is fast coping up and in future they will give a real challenge to the market leader.
The market is changing and Defence Housing Authority of Lahore needs to change with it or else it may lose its lucky charm. It needs to deliver on its promises and play its role as the top most developer of the country, which has been missing for some time now. Since 2016 when the property market of DHA Lahore went to stand still, it seems like the developer did as well.
It is important for them to understand that with every new failure they lose a bit of investor confidence, let me highlight these for the ease.
- Possession of lower portions of phase 7 of DHA Lahore took half a decade more than what was promised.
- 100% possession of DHA Lahore Phase 8 is still not clear even after 2 years since it was announced.
- The future of Phase 8 ex Park View commercial files is still hanging in the balance after years of wait.
- 9 Prism development was supposed to be completed by 2019 but we still see it as a far cry.
- Development of parking areas on Broadway Phase 8 has not been completed.
- Balloting of 4 Marla commercial files of Broadway is no where to be seen.
- Phase 8 Z ivy green development is facing delays.
The list goes on and on and it is time to give a wake up call to the giant, it could have done so many things as a developer to revive the real estate market in DHA Lahore but it has not stood up to its expectations. This complete lack of interest to promote or create activity in real estate by the developer itself is incomprehensible and unjust to the people who have invested huge amount of money. DHA Lahore can easily create activity in many areas by just showing interest and completing developments, building support infrastructure and showing healthy activity in various phases, theme park in Phase 7 can be a good start and I can list a lot more which can really benefit the existing phases.
While I understand that there are a few which are not actually in the hands of the developer but there are a lot of other things that can be done. Most of us did expect that DHA Lahore will do the needful to keep its boat afloat during these times but unfortunately so far it is all quiet. It is high time that the developer takes interest in the interest of the people and actually do an effort to revive the real estate market of DHA Lahore.
Captain (Retd) Shahnawaz Yaqub Bhatti
Investment Consultant and CEO at Imlaak
Mob : +92 333 1717170 ( Whatsapp)
Skype : Shahnawaz.yaqub
