The Growing Demand for Housing in Islamabad
Islamabad, Pakistan’s capital, is witnessing rapid urbanization, driving up the demand for housing. The city, designed to accommodate a limited population, now faces the challenge of accommodating a growing number of residents. With a current urban population growth rate of around 2.777% annually according to theWorld Bank, Islamabad has become a focal point for migration from other regions, as people seek better job opportunities, education, and healthcare. Despite its planned infrastructure, the housing sector in Islamabad struggles to meet demand. The need for more living spaces has never been challenging to this extent, and modern high-rises, like Goldcrest Views, are emerging as viable solutions to address this issue.
Housing Needs and Statistics: Understanding the Demand
Housing in Islamabad reflects a broader national issue of demand outpacing supply. According to the World Bank, Pakistan has a housing shortage of approximately 10 million units, with a significant proportion of this deficit concentrated in urban areas. Annually, the demand for new urban housing units is estimated at 350,000, but only 150,000 units are built, resulting in a substantial gap. This shortage has led to over 40% of the urban population living in substandard conditions, such as informal settlements and slums, exacerbating socio-economic and health issues. (Dawn ePaper).
According to data from the Pakistan Bureau of Statistics, Islamabad’s population continues to grow, reaching about 2.3 million with a growth of 2.8% people in recent years especially in 2023, with the majority residing in urban areas. This demographic shift has exacerbated the need for effective urban planning and more housing solutions that can accommodate the diverse population moving into the city.
Urban Housing: A Multifaceted Challenge
The housing market in Islamabad reflects broader national trends:
- Rising Population Density: Islamabad’s urban areas are densely populated, and with over 95% of residents living in city regions, the space for new developments is becoming limited.(A multiscale Analysis of Housing demand by Abid Rehman & Faisal Jamil)
- Housing Affordability Issues: A large segment of the population faces housing costs disproportionate to their income levels. For instance, more than 60% of the housing demand is from lower-income groups, who often find themselves priced out of the market.
- Need for Better Infrastructure: Despite Islamabad’s well-planned city structure, access to quality infrastructure such as efficient transport, commercial hubs, and essential services remains uneven, further complicating the housing scenario.
The demand for quality, affordable housing in Islamabad is particularly acute for middle-income and lower-income groups, many of whom are left without feasible options. While traditional housing models remain out of reach for these groups, innovative solutions like Goldcrest Views are emerging as a promising alternative.
Examples from Developed Countries: High-Rises for Sustainability
- Singapore: One of the most urbanized nations in the world, Singapore has limited land but a high population density. The government adopted a model of vertical development early on, building high-rise residential buildings equipped with community spaces, gardens, and essential amenities. These buildings are designed to maximize space while maintaining environmental sustainability through green building technologies and efficient energy use.
. - New York City, USA: New York has long been known for its skyline dominated by skyscrapers. High-rise residential buildings in Manhattan help accommodate the city’s large population within a compact area, reducing urban sprawl. The city’s zoning laws have evolved to encourage the development of multi-use buildings that combine residential, commercial, and recreational spaces, fostering a sustainable and vibrant urban ecosystem.
These examples show that high-rise living can effectively accommodate growing urban populations while promoting sustainability. Adopting such models in Islamabad can help the city manage its rapid growth, reduce environmental impact, and provide quality housing for residents.
Urbanization and the Need for High-Rises
Pakistan needs new urbanization model: ADB
As cities grow, various approaches have been tried to meet the housing demand, including expanding the city limits, creating new suburban developments, and building affordable housing schemes. However, many of these solutions have had limited success. Expanding the city horizontally has led to increased urban sprawl even in Islamabad, which puts pressure on infrastructure, creates long commutes, and reduces green spaces. Building new suburban developments can also be costly and resource-intensive, often failing to provide quick and scalable solutions to urban housing needs.
The concept of high-rise buildings offers a sustainable and efficient alternative. By building vertically, cities can house more people within a smaller area, making better use of available land. High-rises also allow for the integration of modern, eco-friendly technologies that can reduce energy consumption and minimize environmental impact.
The high rises were first introduced in Karachi where the population is the highest in Pakistan. For the first time in Pakistan, the Giga group has introduced the Goldcrest Views project as the upgrade model of Goldcrest Dubai. It not only provides international standard luxury apartments for a living but it creates a living experience with top-of-the-line amenities while being in proximity to international schools, hospitals, shopping malls, and main highways like GT Road, Ring Road, and Kashmir Highway.
Upper-Middle Class Housing: Luxury and Affordability
One of the significant challenges for Islamabad’s housing market is providing affordable yet high-quality living spaces for the upper-middle class. Traditionally, luxury apartments have been out of reach for many due to high costs. However, projects like Goldcrest Views are changing this narrative by offering flexible payment plans and a range of unit sizes that cater to different family needs.
Goldcrest Views is designed to provide modern, luxurious living without compromising affordability. With options ranging from Studio, 1-bed to 4-bed apartments and penthouses, it accommodates various demographics, including young professionals, families, and even investors looking for vacation homes. The project offers a lifestyle that blends comfort, convenience, and security, making it an attractive option for those seeking modern living spaces in the capital.
Key Features of Goldcrest Views:
- Luxury Living Spaces: Each apartment is crafted with high-end finishes, modern layouts, and state-of-the-art fixtures. The design focuses on maximizing comfort while providing stunning views of the city. Residents can enjoy spacious living areas, natural lighting, and meticulously planned interiors.
- Security and Smart Solutions: The property boasts a two-layer security system, smart surveillance, and emergency protocols to ensure a safe environment for all residents. It integrates modern technology to enhance safety and convenience.
- World-Class Amenities: Residents have access to amenities such as fitness centers, recreational areas, indoor and outdoor pools, landscaped gardens, and more. These features not only enhance the living experience but also promote a sense of community.
Accessibility and Location: Situated near key transport routes, Goldcrest Views ensures easy access to commercial hubs, educational institutions, and healthcare facilities. This prime location boosts the property’s appeal, making it an ideal choice for both residents and overseas investors.
Goldcrest Views A Solution to Urban Housing Challenges
The introduction of Goldcrest Views, the high-rise project in Islamabad is addressing the housing shortages in Islamabad. By offering premium yet accessible housing options, it caters to the needs of various demographic groups:
- For Young Professionals: Studio and 1-bedroom apartments are ideal for individuals or young couples starting their careers. The proximity to commercial hubs and transport networks adds to the appeal, making it easier for residents to commute and live comfortably.
- For Growing Families: With 2-bedroom, 3-bedroom, and 4-bedroom options, families can find spacious apartments that cater to their needs for larger living areas, privacy, and child-friendly facilities.
For Investors: Penthouses and larger units present opportunities for investors seeking properties with high rental yields and long-term capital appreciation. Goldcrest Views has also positioned itself as a property that appeals to overseas Pakistanis looking for a vacation home, given its proximity to tourist destinations like Murree and the Northern areas.
Giga Group: Building the Future with Goldcrest Views
Giga Group, the developer behind Goldcrest Views, has set a new standard for urban living in Islamabad. The project is part of a broader vision to transform the urban landscape by introducing high-rise developments that cater to contemporary lifestyles.
Goldcrest Views embodies Giga Group’s commitment to sustainability, innovation, and community-focused living. By offering flexible payment options, the project makes luxury living more accessible to the upper-middle-class segment, which has traditionally been underserved in terms of affordable yet premium housing solutions. The project’s emphasis on smart infrastructure, safety, and green spaces aligns with global trends in urban development, making it a model for future high-rise projects in Islamabad and as a whole in Pakistan.
The Role of High-Rises in Sustainable Urbanization
High-rise buildings are essential for sustainable urban growth, as they offer a solution to the challenges of overcrowding and land scarcity. By building upwards, cities can better manage resources, maintain green spaces, and reduce the environmental impact of urban sprawl. Projects like Goldcrest Views demonstrate that high-rise living does not have to compromise on quality; instead, it can enhance the urban experience by providing residents with all the modern conveniences within a single development.
Goldcrest Views: The Future of Housing in Islamabad
The housing needs of Islamabad are a microcosm of broader challenges faced across Pakistan. Rapid urbanization, population growth, and economic pressures have led to a demand for innovative solutions that can address the city’s housing shortfall while maintaining a high standard of living. Goldcrest Views, with its modern design, strategic location, and flexible payment options, represents a step forward in meeting these needs.
As Islamabad continues to grow, the importance of well-planned, sustainable urban developments cannot be overstated. High-rise projects in Islamabad like Goldcrest Views not only cater to the housing needs of the growing population but also create fruitful Investment opportunities for overseas, E-commerce because the project is in the capital territory. It promises investors various factors like high rental yields, property appreciation, and capital gains, especially for Overseas Pakistanis. The prime location of the project and its proximity to main highways like GT road, Ring road, and international standard schools, hospitals, and shopping Malls like Giga Mall provide housing and set new benchmarks for luxury, comfort, and community living. It offers a vision of what the future of urbanization in Pakistan could look like—a future where high-quality housing is available to all, without compromising environmental sustainability or quality of life.
