There is no denying the fact that real estate is one of the most diverse and evolving niches all around the globe. It is a sector that is playing a very key role in producing good economic opportunities and establishing a niche that is trustworthy from an investment point of view.
With the passage of time and as the population keeps on expanding, cities are subjected to growth at an unprecedented rate. Now it is impossible to cater to the ever-growing needs of the population in the current scenarios by using the traditional methods of real estate.
That is when the concepts of smart city in Lahore and vertical development come into the picture to play a productive part. Today we will be exploring the perks of vertical development and will dissect whether the hype is justified or not.
Before proceeding further with the topic, let us first discuss what vertical development is in the real estate sector. A vertical real estate development is a concept where the structures are not horizontally covering a wide space, but are rather long covering less land.
The best possible examples of vertical real estate are skyscrapers and tall buildings. This is what leads to enhanced land utilization and transforming the cities.
In modern times and considering the current real estate problems, vertical developments are a necessity for any city. They are necessary because they manage urban expansion. The concept of vertical development is now known as a vertical city and this concept will be developed by the capital smart city Management.
A vertical city will be a single high-rise building that will encompass the whole population in one place. This will not only reduce the carbon footprint but will also enhance the overall appeal of the cities.
Before moving further it is important to comment on how cities in Pakistan are making more and more room for better real estate projects. These real estate projects are not only sustainable but affordable as well. For instance, the Capital Smart City Islamabad payment plan is a clear example of sustainable and affordable real estate.
If there is one problem that is common in most of the mainstream cities it is the availability of limited land. As more and more people continue to migrate to these cities, the land falls short because of the violation of the land rules.
But consider a scenario, rather than developing traditional and horizontal real estate structures, tall buildings take less land space. When a structure is upward, it can accommodate more people in a vertical space. All of this leads to the following perks:
- Optimized Infrastructure Utilization
- Improved Transportation Network
- Enhanced Public Services
- Increased Availability of Main Life Utilities
We can easily witness this trend taking over the main cities such as Dubai and UAE. Both of these cities are embracing the prospects of vertical developments and leading to a transformed skyline. One of the biggest marvels which is also a tourist attraction and a vertical development is Burj Khalifa.
Vertical developments are known for driving more wealth in the cities. They do so by serving as mixed-use developments. A mixed-use development is a rather novel type of real estate. In this one, a single building is used for residential, commercial, and recreational purposes.
When all of these things exist in a single space, people do not have to waste money in terms of commute. These buildings tend to leave the spectators in a spell. Not only do they serve as a potential place for people to invest, but also expand the prospects of economic growth.
Pakistan is a country in which real estate is growing at an exponential rate. Therefore it is not difficult to grasp that vertical real estate is on an all-time rise in this country.
As we have discussed before, better land usage is undoubtedly the biggest perk of investing in vertical development. This is a premium need for cities in Pakistan because of the shortage of land and violation of the land rules.
Another perk of vertical developments is that they are paving the way for a more better and refined infrastructure. This will lead to better availability of better transport, water and sanitation systems, and so on.
Hence, it is proved that vertical developments are the answer to modern real estate problems.
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