Presently, our society is going through an interesting transitional phase whereby the generation of ‘baby boomers’ is starting to enjoy their retired life and the Generation-Y is now in the proverbial driver’s seat. The ratio is three to one, with the young people joining the workforce for every person entering the retiring age.
These days, more people from the current generation are beginning their independent lives and starting their own families. Furthermore, with 66 million are under the age of 15 and 114 million are under the age of 25, out of a total population of 220 million, this upcoming workforce has a plethora of new ideas, the ability to learn quickly, and great potential to adopt new technologies.
More and more rural area dwellers migrate to the city to look for work-related opportunities and a place to live. That, coupled with the growth in the pre-settled population of the area has resulted in the growing demand for the real estate sector.
Moreover, there are strong prospects in real estate, although our planned area today is a half percent – 3,500 to 4,000 sq km of the total area which is worth $2 trillion, but there is a potential of $3-4 trillion more. If the right investment is made in Pakistan – still a developing country – we can achieve about 20% land appreciation compared to 5 – 13% in the rest of the global markets.
Currently, the Pakistani real estate industry has answered in kind to this growing demand in terms of the sheer number of real estate projects in and around the big cities these days. Over the last few years, the Pakistani real-estate industry has experienced exponential growth with numerous projects looking to have a sizeable share of the urban area market.
Pakistani Real Estate sector is one of the most prolific in the East Asian market that boasts up to $5.8 billion a year in construction, which is an amount that makes up almost 2% of the country’s GDP.
But, Pakistan is facing multiple challenges. Starting from outdated laws, lack of regulation, and complicated taxation, the policy-making is weak at a national level with a lack of entrepreneurship ecosystem and public-private coordination. Currently, in Pakistan, 70% of the investments are in non-productive sectors and 45% of court cases are related to real estate.
Today, there could be more than 100,000 estate agents but only 437 are registered with excise and taxation. With a myriad of options available to the public, it is fairly challenging to make a decision while ensuring favorability of the aspects such as value for money, practicality, environment maintenance & security, profitability, etc.
That is where Graana.com comes in. It is a web-based property portal that facilitates the sale and purchase of real estate and helps buyers make an informed property decision. Graana.com was conceived by Mr. Shafiq Akbar, a Cambridge graduate and a prolific entrepreneur who boasts a rich experience as an integral part of various major organizations both at home and abroad.
After spending 15 years in the UK, Mr. Akbar made his return to Pakistan with a resolve to create a positive impact on the real estate market. With this conviction, Mr. Akbar created more than 600 jobs for the Pakistani youth but also established a conglomerate of 7 companies.
In an interview with ProPakistani, the Graana.com Director, Mr. Farhan Javed, gave us an insight into the company’s competitive edge. As per his responses, the following are some of the elements that make Graana.com one of the better choices in terms of real estate transactions and consultancy.
After a careful examination and assessment of the dynamics of the real estate industry in Pakistan, the foundation for this much-needed service was laid. Basically, the customers have been longing for a real estate platform that offers an all-encompassing solution and assures maximum convenience and confidence.
Enter Graana.com! Graana’s story begins with Shafiq Akbar’s dream of transforming the way Pakistan’s real estate operates. True to Mr. Akbar’s vision, transparency and security speak of Graana.com. The unique business model makes it stand out from the crowd. The verified listings and their strict moderation make Graana.com Pakistan’s smartest property portal.
Graana also offers unique investment opportunities with unprecedented estimated annual gains and a 100% money-back policy. These factors ensure risk-free investment for our valuable customers. We provide a return-match promise on our projects which means you can’t get a better low-risk return anywhere else.
The goal of Graana.com is to develop a product that provides safe and transparent property transactions and result-oriented profitable deals for every Pakistani who needs to buy, sell, rent, or invest. Graana.com carefully researches and curates the latest offers and facilitates smooth transactions so that you never have to deal with real estate woes again.
Graana.com is built with a customer-first interface meaning we underwent rigorous testing and growth hacking to ensure we deliver what we promise. The focus has always remained to apply cutting-edge technology and platform economics in the real estate sector to make Graana.com the smartest property portal in Pakistan.
Also, we firmly believe that GIS (Geographic Information System) is the future of real estate in Pakistan as it will ensure transparency and security. The digitization of the property records initiative will help in transparent land records management with a single-window to handle land records which will include maintenance and updating of maps, surveys, and registration of property.
It can also aid the online approval of plans and occupancy certificates. Also, Graana is working on Artificial Intelligence, an innovation that will answer all your queries related to real estate.
The land is one of the few assets the price of which appreciates over time. For people who are looking for good investment opportunities, the property is the perfect option to invest in. Graaana.com does provide additional benefits such as annual gains, a transparent buy-back, and a money-back policy meaning you can liquidate your investment in the short-run.
These features are one of a kind not only in Pakistan but the global real estate market as well. The Pakistani real estate market is growing and revamping by leaps and bound. Graana has also introduced RE 2020, an action plan for Vision 2030, where the primary objective is to digitize the real estate sector.
Vision 2030 is a collaboration between the Iqbal Institute of Policy Studies and Graana.com. Under this program, a digital catalog has been developed for the commercial land inventory of Pakistan. This real estate development potential is valued at one trillion dollars by 2030. Also, 250 billion dollars can be generated through land investments alone, and an estimated 20 million housing units are required in the next 10 years.
An additional 250 billion dollars can be generated by construction activities that will boost the establishment of local construction materials and supplies industry.
Graana.com has quickly cemented itself as one of the market leaders. Currently, Graana is the marketing partner for the following real estate projects in twin cities (soon launching in Lahore and Karachi):
- Amazon Outlet Mall (Completion this year)
- Imarat Builders Mall (To be completed soon)
- Mall of Arabia (In progress)
- Florence Galleria (In progress)
- Golf Floras (Launching soon)
Future of Graana
Graana is one of the few platforms that has its game plan for sustainability etched in stone. According to Mr. Shafiq Akbar, Chairman Graana Group of Companies and CEO Graana.com, Pakistan could create over one trillion dollars under the Vision 2030, build the housing sector and provide jobs and training to the 70 million youth of Pakistan.
With the initiation of Vision 2030, investors will come to Pakistan and more than 250 ancillary industries of real estate will also grow and help to create employment in the country.
Also, due to the government’s initiative towards digitization, the process of land acquisition will speed up and it will also help in building up local revenues through property tax billing and collection and also by providing conclusive titles to landowners.
The real estate industry is on a steep upward trajectory with no apparent signs of slowing down anytime soon. With its contemporary approach towards market development, Graana is poised to become the biggest name in the entire real estate industry.