One Homes acquires prime land to build $180 million mega mixed-use development in Islamabad

Founded by entrepreneur Zeeshaan Shah, the group has over $400 million worth of projects in the country

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Published: Mon 24 Jul 2023, 3:40 PM

One Homes, a leading UK based property investment and development company, has made another significant investment in Islamabad's luxury residential market. The group plans to build a mega one million square feet residential and hospitality-led development along the Murree Expressway. The east of Islamabad known for its picturesque landscapes remains the capital's most desirable yet final untapped frontier. This is set to change due to multi-billion infrastructure investments underway which will unlock the area for controlled development.

Aqib Hassan, co-founder and chief commercial officer at One Group, outlined the company's strategic acquisition. He said: "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."

Due to mega infrastructure investments under way, the capital's eastern frontier has become the cities latest investment hotspot. The area boasts the landscapes of Murree and infrastructure upgrades will now slash travel distances to the heart of the capital will by up to 60 per cent. Experts predict prices in the area will be the fastest growing in the capital with upwards of 100 per cent growth potential in the short-medium term.

When asked about comparing this with the group's other projects, Hassan said: “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”.

One Homes recently pre-launched a mega resort-style living concept in DHA Islamabad consisting of 255 apartments and townhouses. Construction at the project is currently underway and scheduled for completion in 2026.

Elaborating on the investment climate in Pakistan, Hassan said: “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."

According to official data land prices in Islamabad have surged by up to 1,000 per cent in the past decade, yet despite this remarkable growth, prices in Pakistan remain a fraction of those in comparable markets in the region showing tremendous room for growth. Hassan added: “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. Recent projects include One Canal Road, Lahore and One Serene Residences, DHA, Islamabad.

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