A New Era for Malls in Pakistan?
Tim Forbes
UK & Pan-European Real Estate Headhunter I Investment I Asset Management I Development I Fund Management I M: +44 (0)7745 289 997
Pakistan is a country that seems to polarize opinion amongst westerners. Our International expansion and adventure has led us to Dubai, Milan, Istanbul, Prague and of course Cannes, however when I told friends and relatives about our upcoming business trip to Lahore, it is fair to say there was some concern. Media portrayal of the country is almost exclusively negative and generally little is known of the country beyond what is seen on the occasional news story.
We, however were intrigued by the amazing project that our clients had described to us and ignoring some advice to the contrary, flew to Lahore to see for ourselves.
After a sleepy overnight flight, a drive through Lahore’s bustling city is something of an extreme wake up call. Cars, tuk tuks, bikes and people intertwine in a somewhat chaotic fashion, seemingly headed for collision at every turn although I have to point out that we didn’t see a single accident.
The purpose of our trip was to visit the Nishat Emporium shopping mall development in Lahore. This is a truly fascinating development and it is a rare honour to be involved in a project which genuinely has the potential to change shopping behaviour in a whole city or even country. Pakistan is a country mostly devoid of purpose built retail and leisure destinations, however come the early part of 2016 this will all be a thing of the past as the Nishat Emporium opens its doors for the first time.
Visiting the development was an incredible experience and we were shown a heartfelt welcome by all the people we met during our stay. Over a not so local meal (TGI Fridays!) we had the opportunity to speak with some young Pakistani professionals and there is a real sense of optimism for the future of the country.
As I sat with my colleague Julian Long in the departure lounge of Lahore airport , we reflected on our experience and compared it to the expectations we had just 3 days earlier. We both found ourselves genuinely disappointed to be leaving so soon and having seen so little of this intriguing and vibrant country. I had thought of this as a “once if a lifetime” type trip, now I am looking forward to my next visit.
Head of Internal Audit | ACA, Fellow Public Finance Accountant
9 年Mr. Tim you should have visited the Iconic project of Islamabad (the capital city of Pakistan) "The Centaurus" that comprises of Mall plus residential apartments. It was previously headed by Mr. Anton Dekker (GM MAlLL) who just left the organisation 7 months back. You would be delighted to see that it is the biggest Mall in Pakistan till today covering lease able area of around 380,000 sqft. Please do visit islamabad next time.
Executive Housekeeper Centaurus Mega Mall And Residential Furnished Appartments Tower A,B
9 年nice to see your comments
Chief Turnaround Officer (Shopping Malls)
9 年I fully agree....
UK & Pan-European Real Estate Headhunter I Investment I Asset Management I Development I Fund Management I M: +44 (0)7745 289 997
9 年Thank you for the comments and Phil, I look forward to seeing you in London at the ICSC conference next week.
Executive Real Estate Professional
9 年It is indeed a country with great opportunities. I am also quite happy that management has involved team of experts to bring in the best practices to run a retail destination. I & many other Pakistanis must be looking forward for this positive change.