Zeta Mall Islamabad, located in front of Giga Mall and DHA Islamabad

26 January, 2021 – Islamabad

 

Introduction

Zeta Mall and Apartments is a mix use mega commercial project in Rawalpindi/ Islamabad by Zaraj Group Builders, located exactly opposite Giga Mall on GT Road. 

Zeta Mall is the only CDA approved project in the entire Zone V Islamabad: NOC # CDA/D-BC-II-6(21)/ZHS/Zone-V/2018/311. Zeta is surrounded by hugely populous areas like DHA Phase 1 to 5; Bahria Town Phase 1 to 8; Zaraj Housing Society; Rawat etc. 

It is an 11 story building with two parking floors in the basement (B1, B2); five floors of mall (LGF, UGF, 1^st, 2^nd, 3^rd) and four floors of the apartments (4^th, 5^th, 6^th, 7^th). 

It is called Zeta-1 because Zeta-2 will be built on the adjacent plot which is also of 17 kanals (330×240 feet) and the two malls will be connected at the level of third floor level (food court) through a bridge. 

It is going to turn the Zeta Mall into one of the largest (if not the largest) malls of the twin cities. 

Zeta has two cargo lifts; four passenger lifts and one escalator right in the middle of the mall.

 Many local and international brands are already approaching the management to reserve the space.

Location, Location and Location

The holy grail of the real estate is location, location, location and Zeta Mall fully justifies that mantra.

 One cannot ask for a better location than this. Mere location of Zeta Mall catapults it into one of the most wanted investments; just in front of Giga Mall Islamabad on the main Rawalpindi Lahore Grand Trunk Road and nestled between DHA and Bahria Town. 

What else are you asking for? I dare you to point out any better location than this.

 

About the Builder — Zaraj Group Builders

I don’t need to tell you how important is the track record of the builder in any project. 

It is a no brainer. Zeta Mall is being built by Zaraj Group Builders which are the owners of the highly reputable Zaraj Housing Society — the mall is being built on its entrance. Zaraj Housing is fully populated and was built almost twenty years ago and is one of the upscale and sought after neighborhoods of the twin cities.

 ZGB owners are known for their commitment to project development, delivery, maintenance and passion for real estate. Numerous projects within Zaraj Housing Society bear testimony to this like Rania Heights, Zaraj Villas etc.

Completion Timeline

The project is scheduled to be completed by 31 December 2023 but the management is determined to handover the keys by 31 October 2023. 

I can assure you at least of one thing: Zeta will be completed earlier than many other projects in its neighborhood which were launched much before Zeta. Which are those projects? Well lets not name them. We at Zeta should mind our own business

Currently bed has been laid and the first slab is likely to be laid by 28 February 2021.

 ZGB has their own batching plant, construction machinery and have hired a retired brigadier as the project director who is efficiently handling the whole construction process.

Price Structure and Payment Plan

Zeta Mall and Apartments is being offered on a three years installment plan. 

25% down payment at the time of booking and the remaining 71.5% in 11 equal quarterly installments while the remaining 3.5% at the time of possession (25 + 71.5 + 3.5=100). 15% extra charges will apply in case of corner.

 ZGB give you in writing at the time of booking that they would pay rent if Zeta Mall is delayed even for a month beyond three and a half years. The language on booking form terms (clause 18) and conditions is “the completion of the project is planned to be completed in 3 years, subject to condition of force majeure, strikes, riots, war and other conditions which are beyond the control of the Management of Z1. This also includes changes in the fiscal policy of the government, non-availability of materials/lobor, etc. In case of delay in project completion on part of Z1 for more than six months except the above said reasons, the Management of Z1 shall be liable to pay monthly rent at prevailing market rates subject to the conditions that the allottee has paid his payments and installments strictly according to the schedule without any delay.” 

Down payment and installments can be paid in cash, cross check, draft and pay order. ZGB has accounts in MCB, ABL and Bank Alfalah. 

Pay Order should be made in the name of “Zaraj Group Builders”. 

Remember allottee can sell his unit at any time to a new purchaser and the transfer will occur in the office of Zeta-1 after clearance of all the outstanding charges due up till that time. 

 

Please contact me (Ch Mehmood) at 03336555444 for account numbers (if you need) or for booking good location shops and apartments or anyother details

 

Future Profit and Rental Prospects/ Projections

Zeta has huge potential both in terms of price appreciation and rental value. Price structure at which it is being offered is very competitive and, in my view, current prices will double in three years’ time. 

For today’s (January 2021) price of Rs. 50500 per square foot at third floor (food court) is highly reasonable. A 205 sft shop has been sold for Rs. 10,350000 which is likely to fetch you a rent of at least Rs. 150,000 to 200,000 per month. 

Isn’t that phenomenal? 

But remember price structure will be revised steadily by the builder over the course of next three years. These projections are real, trust me! Just visit Giga Mall and ask any kiosk what rent is he paying. It is almost double than what I am projecting for Zeta Mall.

 It is because malls have massive footfall and visitors and shoppers are not only from Rawalpindi/ Islamabad but all over Pakistan. Malls like Centaurs, Giga, Zeta etc. are not only shopping heavens but tourist attractions as well and people from the surrounding towns and all over country visit these iconic destinations.  

Floor Plans and Details

 Zeta Mall (remember it is Zeta 1. Zeta 2 will be launched after few months) has a total of 11 floors: two parking floors in the basement; B1 and B2 with a total parking capacity of 800 cars. Five floors of the mall itself having 353 shops: Lower Ground Floor, Upper Ground Floor, 1^st, 2^nd and 3^rd floor (food court). Four floors of the luxury apartments having 141 apartments: 4^th and 5^th have 1 and 2 bed flats while 6^th and 7^th floors have 2 and 3 bed apartments.

It is likely that the entire fourth floor is converted into one bed apartments only. The proposal is already at works and is likely to materialize

Lower Ground Floor

It has a total of 38 shops. Rest of the floor is reserved for the parking and has a capacity for 86 cars. LGF is at the ground level if you enter the mall from the backside. 

Imagine how lavishly planned Zeta Mall is: more than half of the LGF floor is given for free. They could have built another 60 shops and earned loads of money but chose not to. 

Any run of the mill builder in Pakistan would have done that. Mind you this parking is other than the two parking floors in the basement and the parking space in front of the mall. 

This floor is likely to be occupied by some grocery store and shoppers would park their cars on the same floor, grab a trolley, shop and drive off without the hassle of dragging their trolley through elevator (lift) and escalators. You would not find this luxury in Centaurus or Giga. Guys this is Zeta Mall and Zaraj Group Builders for you!

There are couple of major grocery brands which are in negotiations with ZGB for LGF. You many call me if you want to know the details

Upper Ground Floor

This is the most expensive floor being ground floor and the floor you can walk into from the front side entrance (GT Road). It has a total of 85 shops. 

Normally, international brands like Next, Samsonite, Levis, Nike etc. try to find space on ground floor as it has highest rentals but I don’t find much logic for the common investors to spend extra money to buy shops on this floor as all the floors have optimal footfall due to so many lifts and escalators. 

Moreover, almost everyone visits the food court, which is on the top floor of the mall (3^rd floor) and thus 1^st and 2^nd floors are equally frequented. Remember anyone who comes to mall, more often than not, is likely to frequent all the floors.

First and Second Floors

^1st and 2^nd floors have almost identical floor plans/ architecture except that first floor has 97 shops and 2^nd floor has 103 shops. Six extra shops are because main corridor on the 2^nd floor is bit narrower than the 1^st floor. 

But I don’t think that is going to restrict the space or impede the shoppers in anyway on 2^nd floor. The developers and the architects have been very generous in the planning of space and that is going to immensely add to the functionality of the mall.

Third Floor (Food Court)

 Probably the most visited floor in any mall is the food court as visitors do make it a point to eat at the mall even if they don’t do any shopping. 

It is the last floor of the mall and is very lavishly planned like LGF. It has a total of 30 outlets only, a huge kids’ playing area, and rest all is the common dining area. 

Remember Zeta-1 will be linked with Zeta-2 through a bridge and thus Zeta Mall will ultimately have the biggest and yet most spacious food court in the twin cities. This will turn Zeta Food Court into the largest food courts of Rawalpindi and Islamabad

Fourth and Fifth Floors

 Last four floors of Zeta complex are residential floors; 1, 2 and 3 bed apartments. 4^th and 5^th floors have only 1 and 2 bed apartments. 

The architecture of these two floors was changed in November 2020 to create more one bed and two bed apartments by breaking up the three bed apartments. 

That is why you find old architecture of these two floors on internet which have only 2 and 3 bed apartments.

 I have discussed the apartments with Mr. Syed Karamat Jaffary, Director Sales and Marketing who says that the apartments will be furnished except the furniture and bedding etc. 

There will be ACs, TV and fully furnished kitchen. Apartments will also have the top of the line sanitary fittings, tiles etc.

Sixth Floor

his floor will have 2 and 3 bed apartments.

Seventh Floor

 Seventh Floor is the most lavish floor of the four apartment floors. It has like 4^th floor 2 and 3 bed apartments. However, half of the floor is open terrace at the front where coffee shops, gym etc. are planned which will be available for all the residents of the four floors.

 

Booking Process

1. Shops and apartments are booked on a three years installment plan with 25% as down payment and rest in 11 equal quarterly installments (6.5% per quarter) while 12^th installment of 3.5% is on possession when keys will be handed over the owne
2. Down payment of 25% can be broken down into two sub payments: 15% upfront and 10% (within two months). First installment will be after five months of 25% down payment or three months in case down payment is made in two sub payments
3. ZGB would only give you allotment letter after full 25% payment. Society also prefers that full down payment is made as they need cash to continuously build the mall and stay on schedule
4. Allotment will be cancelled if two consecutive installments are not paid. They may not slap penalty or fine for late payment as they consider it interest
5. Following documents are needed for necessary paperwork at the time of booking

• Copy of CNIC/ NICOP or passport of the allottee
• Copy of CNIC/ NICOP or passport of the Next of Kin
• A passport size photo of the allottee (you can whatsapp any appropriate pic too)