Following the Hafeez Center tragedy, shop owners adjacent to the building increase rents drastically
The fire broke out in the commercial hub on Sunday morning and severely damaged more than 450 shops.
After the Hafeez Centre’s horrific fire incident, shop owners of the adjacent plazas have increased rents many times over.
Speaking to ProPakistani, a computer retailer, Syed Roohan Sajjad, who owns a shop in the Hafiz Centre, said, “Three buildings – IT Tower, Jeff Heights, and Al-Hafeez Shopping Mall have been sought out by the traders who had shops in the burned building. ”
He added, “I, along with other computer retailers, have already given the token money to the Al-Hafeez shopping mall to shift our business there temporarily. However, these plazas have been using the fire incident to their advantage and have increased their shop’s rents by a significant amount.
Sajjad informed that he rented a shop in Jeff Heights two months ago at PKR 13,000. He said, “However, after the fire incident, the shop opposite to mine has been rented out somewhere between PKR 40,000 and PKR 50,000.”
The fire broke out in the commercial hub on Sunday morning and severely damaged more than 450 shops and warehouses of Mobile phones, laptops, and accessories worth millions.
The Lahore Police Commissioner, Zulfiqar Ahmed Ghuman, has formed a 14-member inquiry committee to look into the incident and ordered to submit a preliminary report.
What are your views on this? Share in the comments bar below.