Quality Infrastructure
When it comes to real estate, you must have heard the quote that real estate value is all about its location. While location is the major determinant of real estate value, other key factors such as amenities, infrastructure, and accessibility also play a vital role in its determination. However, one of the most negligible aspects in this regard is resources supply such as electricity and the availability of infrastructure. Power supply and real estate appreciation are directly related as the regions having continuous power supply have higher real estate value.
Importance of Infrastructure in Real Estate:
What is Infrastructure?
Infrastructure refers to all the basic facilities and amenities that help a society or an area function smoothly. This includes all the facilities such as communication, transportation, and resources (water, gas, and electricity) supply.
Infrastructure and Real Estate:
Quality infrastructure contributes to higher real estate value attracting more potential buyers, tenants, and investors. Additionally, the areas with quality infrastructure have a higher demand in the real estate market.
Benefits of Reliable Electric Supply for the Real Estate Sector:
Attracting Potential Buyers and Investors: Reliable electric supply can significantly boost the potential of any real estate property. Considering the case of Bahria Town; one of the pioneering housing projects in Pakistan, it was a huge success due to its provision of quality infrastructure. The project came with a promise to provide its residents and investors with zero load-shedding. Today, many newly introduced housing societies such as Park View City, Blue World City, Capital Smart City, and New City Paradise are also offering this facility to get your hands on load-shedding free housing.
It is one of the many factors that allure potential buyers and investors to invest in any real estate property.
Improved Quality of Life: Continuous power supply not only eases the completion of everyday chores but also improves the quality of life. It has been found that areas with zero load-shedding have lower crime rates due to improved educational and commercial facilities and the availability of street lights.
Development Potential: As areas with power supply attract potential investors, it signals growth potential associated with the area. It particularly becomes true in the case of commercial real estate as businesses require a continuous power supply for efficient performance. That is why emerging housing projects along with promising zero load-shedding also include dedicated commercial areas and IT zones in their master plans.
Sustainability and Energy Efficiency: As we are living in an environment and nature-oriented world, those real estate projects manage to garner huge buyers and investors that offer sustainable sources of electricity production such as solar panels or smart grid systems. Energy-efficient practices are the latest in trend and help real estate developers to make their projects a success.
Role of Collaboration between the Public and Private Sectors: Creating and upkeeping a dependable power infrastructure necessitates a partnership between governmental bodies and private sector organizations. Governments have a vital responsibility in guaranteeing a steady electricity supply by overseeing the creation and execution of power generation, transmission, and distribution networks. On the other hand, private sector entities, such as power companies and developers, play their part by investing in infrastructure ventures, enhancing current systems, and incorporating cutting-edge technologies to ensure effective power delivery.