Abstract:
1.1 The students group was appointed by Pak Gulf
Construction (Pvt.) Ltd. to conduct a market survey of
Islamabad covering the retail and commercial sector of the
city to assess the prospects of launching a shopping mall in
the Capital city.
1.2 The Centaurus shopping mall (the Mall) is likely to be
the leading shopping mall in Islamabad as there is no other
indoor shopping mall in Islamabad which provides high
quality shopping and entertainment facilities under one roof.
1.3 Based on our research, we found that the commercial
lease rates in the vicinity of comparable shopping places are
in the range of Rs. 300 to Rs. 500 per Sq. ft. depending on the
size of the shop and its locality. The security deposits for such
type of property ranges from Rs. 800 to Rs. 1200 per Sq. ft
and advance ranges from 6 months to 1 year’s rent of the
shop. More detailed analysis of commercial rates of
Islamabad property is presented in Section 4 of this report.
1.4 We understand that the shopping mall will consist of
five floors and each floor will have its own distinct
personality. To devise an appropriate tenant mix will be the
key to the success of the shopping mall as there will be few tenants (Anchor stores) which will
contribute significantly towards the footfall of the shopping mall, whereas there will be numerous other
tenants which will attract only certain buyers, but may be of high value transaction holders. Based on
our analysis in Pakistani real estate market generally and Islamabad’s real estate market specifically, the
proportion of property/ space cost in total turnover of trading and entertainment businesses is high as
compared to middle east.
