In recent years, Islamabad has seen a large influx of migrants, many of whom are looking for a place to call home. This has created an acute housing crisis in the city, and many people have turned to Faisal Town phase 2 as a solution. While it may be an attractive proposition on the surface, is it really an affordable property project? In this blog article, we will explore this question in further detail and look at some of the factors that can affect its affordability.
What is Faisal Town Phase 2 Islamabad?
Faisal Town phase 2 Islamabad is a government-sponsored affordable property project started in May 2016. The project covers an area of 9.5 hectares and has a target capacity to accommodate over one million people. The apartments will be available at an initial price of Rs150,000 per square feet and the project is expected to completed in 2020.
The development comprises of two towers which will have a total built up area of 5 million feet. There are plans to set up commercial and residential premises within the complex as well. The project has been designed by world renowned architects such as Zaha Hadid, Rem Koolhaas and Norman Foster.
Over 50 percent of the flats are reserved for lower income families and there are plans to appoint a Primary Health Care center within the complex as well. Faisal Town Phase 2 Islamabad is situated close to important government offices including the Prime Minister’s House, Parliament House, Supreme Court and Presidential Secretariat.
The Faisal Town Phase 2 project
The Faisal Town phase 2 project is a mixed-use development in Islamabad, Pakistan. It consists of an upscale shopping mall, a convention center, and luxury apartments. The project has been criticized for its high prices and lack of affordable housing.
The Faisal Town phase 2 project was proposed in 2015 by the city’s governing party, the Pakistan Muslim League (N). The project was approved by the Islamabad Capital Territory government in December 2016. Construction began in January 2017 and is scheduled to be completed in 2020.
The project is located in Faisal Town, a commercial district near the presidential palace in Islamabad. The shopping mall will have 150 stores and restaurants, a movie theater, and a sports complex. The convention center will have 800 rooms and a capacity for 5,000 guests. The apartments will have 1-, 2-, or 3-bedroom units with granite countertops and four bathrooms per unit. Prices for apartments range from $310,000 to $1.2 million.
Some critics of the project say that it is too expensive and that there are no affordable units available. Others say that the prices are reasonable given the location and amenities offered by the project.
The estimated cost of the project
The estimated cost of the project is PKR 1,500 million. The developer has already raised PKR 750 million from local and international investors. The remaining amount, PKR 1,250 million, will be financed through a loan from the Export-Import Bank of China.
The Faisal Town phase Islamabad development is located in the federal capital of Islamabad. It comprises a total of 511 acres and will have an estimated population of 800,000 by 2025. The development consists of a mix of residential areas, commercial hubs, schools and hospitals.
The homes in the development will come in different prices categories starting at PKR 100 million for a single family home to PKR 500 million for a villa. There are also luxury apartments available starting at PKR 2 billion. With all these options available, it is evident that Faisal Town phase Islamabad is an affordable property project.
How the developers are planning to fund the project
The developers of Faisal Town phase Islamabad are planning to fund the project through a variety of mechanisms such as selling the land plots, issuing bonds, and attracting foreign direct investment. They are also considering various other options such as launching a public-private partnership (PPP) in order to reduce the cost of construction.
The developers believe that these mechanisms will allow them to complete the project at a lower cost than traditional methods such as government borrowing. They also note that this approach will allow them to attract a wider range of investors, including private companies and foreign investors.
Overall, the developers believe that they can complete the project at an affordable price point given their planned financing options. They are hopeful that this approach will help them to achieve their goal of creating a high-quality community with a wide range of amenities.
What kind of amenities will be available in phase 2?
Phase 1 of Faisal Town included a library, hospital, mosque, schools and commercial establishments. Phase 2 will include an amphitheater, botanical garden and recreational areas. There will also be a mix of affordable and luxury properties available.
How much does it cost to purchase a property in Faisal Town Phase 2 Islamabad?
If you are looking for an affordable property project in Islamabad, Faisal Town phase 2 might be the right choice for you! This development offers a variety of residential options that range from apartments to villas. You can also find commercial spaces here, making it a great option if you’re looking for a place to start your own business.
One advantage of this development is that it’s close to many popular attractions and amenities. You can easily access all of the city’s main shopping areas and restaurants, as well as major religious sites. Plus, the infrastructure is up to date and well maintained, so you won’t have to worry about low maintenance costs or any other bumps in the road.
Overall, Faisal Town phase 2 is an affordable property project that offers great value for your money. If you are interested in learning more about this development or purchasing a property there, please don’t hesitate to get in touch with our team at Property Pakistan. We would be happy to help you figure out what’s best for you!
Is Faisal Town Phase 2 Islamabad an affordable property project?
The Faisal Town Phase 2 Islamabad development is a large-scale property project that is being developed in the central part of Islamabad, Pakistan. The project is estimated to cost $1.5 billion and will include residential, commercial, and recreational facilities. The development will be divided into two phases, with the first phase expected to be completed by 2020.
The Faisal Town Phase 2 Islamabad development is an ambitious undertaking and it has generated a great deal of controversy. Some people feel that the development will have a negative impact on the environment and social life in Islamabad. Others argue that the project will create jobs and improve the economy of Islamabad.
It is difficult to say whether or not the Faisal Town Phase 2 Islamabad development will be an affordable property project. The price tags for some of the apartments have already reached $4 million per unit, which is significantly more expensive than other major housing projects in Islamabad.
Price Range of Properties in Faisal Town Phase 2 Islamabad
There are a range of properties available in Faisal Town phase 2 Islamabad that fall into different price brackets. The cheapest apartments start from Rs120,000 while the most expensive ones cost Rs2 million. However, if you’re looking for a luxurious property, you will have to pay upwards of Rs5 million.
The majority of properties in phase 2 Islamabad are family-friendly and feature two or three bedrooms. A few apartments cater to singles and couples, but the majority of units are designed with families in mind. In terms of location, all areas within Faisal Town phase 2 Islamabad offer great amenities and public transportation connections.
Location and Transportation
Faisal Town, Islamabad is a brand new investment project located in the heart of the federal capital city. The development offers a range of luxurious and affordable properties for sale or rent.
Commuting to and from Faisal Town is easy thanks to a variety of public transportation options. There are many bus routes that go close by and the metro system is only a few minutes away. Drivers can also find Uber available here.
The property market in Islamabad is slowly recovering after experiencing several years of stagnation. This makes Faisal Town an attractive option for those who are looking to invest in Pakistani real estate.
Security and Maintenance
When it comes to security and maintenance, Faisal Town phase Islamabad is a top pick. The town boasts of an impressive array of facilities that make it one of the most secure and well-maintained projects in the city. From state-of-the-art surveillance systems to 24/7 security patrols, residents will be ensured complete peace of mind. In addition, regular maintenance works are carried out to keep the property clean and fresh. All in all, Faisal Town phase Islamabad is an excellent choice for those looking for quality security and convenience combined.
Amenities and Community Life
Faisal Town Phase Islamabad is a development project that promises to be one of the major landmarks of the capital. The development comprises a mixture of residential, commercial and recreational areas, with all amenities close by.
The infrastructure is fully developed and ready for occupancy, with schools, hospitals and markets all within walking distance. ample parking spaces are also available on site.
From an investment perspective, Faisal Town Phase Islamabad is undoubtedly an affordable proposition. The total cost of purchasing an individual plot ranges from Rs 2 million to Rs 5 million, making it an ideal option for first-time home buyers or investors looking to enter the market without breaking the bank.
Moreover, due to its prime location in Islamabad – just a few minutes’ walk from both the diplomatic and administrative districts – Faisal Town Phase Islamabad is ideally situated for businesses seeking to expand their operations into Pakistan’s largest city.
So, is Faisal Town phase 2 Islamabad an affordable property project? The answer to this question largely depends on your budget and specs. If you are looking for a luxury property with all the bells and whistles, then it may not be the best option for you. However, if you are looking for an affordable city center property that has all the amenities you require, then Faisal Town phase 2 Islamabad may be a good choice for you.