Social life has changed a lot in the 21st Century. Now, we don’t prefer good restaurants to meet our friends, rather prefer shopping malls to chat, and do our retail therapy, with friends and acquaintances. Looking at malls in Islamabad and in other major cities of the country, they become places for entertainment and food than shopping.
With rising standards of shopping malls in Pakistan, and the trend of corporate towers, they are becoming more than just a place to purchase/shop… now these state-of-the-art buildings have larger-than-life showrooms, entertainment arenas, fulfillment centers, clinics, cinemas, restaurants/cafes/bistros, corporate offices, high-end beauty salons, gyms, suites, recreational centers, day-cares, clinics, forex, and what not.
Every metropolitan city in the world has a number of shopping malls that are more of an attraction for residents and visitors alike. Despite the technological revolution of online shopping, shopping malls have managed to fascinate shoppers.
Also, families often visit for shopping, dinners, lunch, breakfast, and high teas; these days, you will find the best local and international hotels and restaurants in a mall.
Not only the shoppers, but even the retail outlets in Pakistan, businesses, and other corporate professionals have also started adopting the new norms of working, incorporating more collaborations, interactions, and community building.
The winning retail and corporate strategy is to offer time, convenience, comfort, and of course, the all-in-one experience to shoppers under one roof. Now, a mall is the epicenter of trade, entertainment, and amenities, located in commercial premises.
Here comes the changing dynamics of shopping malls, and how corporate towers are shaping the future of the corporate world and improving community building among brands and businesses.
The Future of Shopping Mall… building High-paced Business Communities
Now, malls are everywhere…. talking about all the major cities of Pakistan, we have 8 malls in Islamabad, 10 in Lahore, and around 8 malls in Karachi, that are at par. Talking about these malls, we have showrooms, big brands, high-life gyms, health centers, offices, restaurants, cafes, and entertainment blocks.
For shoppers, it’s a one-stop solution for a better lifestyle, and the same is the case for retailers and businesses. Here’s how being located in a mixed-use building/corporate tower helps businesses and retailers to have better visibility and connections.
Why Businesses need to Locate in a Shopping Mall
Malls have become the catalyst for community building and a center of improved connections. These are the benefits of being located in a corporate tower.
- Co-location: A corporate tower provides a centralized location for businesses and retailers to run their businesses. This can create a community among the occupants/businessmen/entrepreneurs of the tower, as they are able to interact with and support each other in their respective capacities.
- Networking: Having a multitude of businesses, associated with different niches, opens a myriad of opportunities to each other close in a corporate tower; having a presence in the same business center provides opportunities for networking and collaboration. Retailers and businesses can share resources, knowledge, and ideas, and can even form partnerships to work together on differently-related projects.
- Increased foot traffic: We all know that a corporate tower can attract a significant amount of foot traffic, especially if located in a busier neighborhood. This can be beneficial for retailers and businesses located in a shopping mall, especially small and mid-sized/emerging labels. So, try to locate your business in a mixed-use building – to enjoy maximum visibility of your business and drive sales.
- Community Events: Running a business from a corporate tower means attending seminars, workshops, and other social gatherings, of different and related topics and occasions. These events also provide an opportunity for businesses to connect with the wider community, and create a sense of belonging among the occupants of the tower.
- Shared Amenities: A shopping mall often provides shared amenities to its occupants, like conference facilities, meeting rooms, communal areas, cafes, instant elevators, etc. These facilities can be used by all the retail outlets in Pakistan and businesses of the tower – to hold events and build networks, and relationships with other businesses.
Overall, a mixed-use building can be a great asset for community building and collaborations for businesses.
You must be thinking about what makes a corporate tower the perfect catalyst for community building.
What is the DNA of a Shopping Mall/Corporate Tower?
To leverage the significant amplification and economic growth from a corporate tower, ensure the mall should have;
- Parking Facilities, pref. both indoor and outdoor
- 24/7 security and surveillance
- Corporate amenities, like meeting rooms, conference centers, separate entrances, speedy elevators, etc.
- Located in an easy-to-access neighborhood… within the reach of public transport.
Keeping them in mind, we are coming up with Citadel 7, the tallest corporate tower in the Blue Area, Islamabad, located in the center of main Jinnah Avenue and Ibn-e-Sina Road, and in close proximity to the Metro station, Faisal Masjid, PIMS, and other landmarks of the capital city.
Invest in the Malls/Corporate Towers, not in General Shops
Apparently, the malls are not only a platform for community building but also the right prospect for investment. The malls are the safest and most secure investment opportunity for those looking for a low-risk and high-rewarding investment option in Pakistan.
If you’re new to property investment, you should look for malls, as demand for mixed-use developments in Pakistan is at an all-time high, and has drawn the attention of domestic and overseas investors alike. Secondly, statistically speaking, the prices of retail units have also seen a significant rise in the last decade, across the country.
Investing in Citadel, the next mall in Islamabad will give you an expected annual capital gain of 18% on your invested capital.
Some of the oscillating benefits of investing in malls/corporate towers are;
- Diversification of Portfolio.
- High Return on Investment.
- Reduced Risks.
- Longer Agreements.
- Least Maintenance.
Wrapping Up!
Invest in commercial centers and give your business, a NEW IDENTITY!
