Fahad Lone

real estate developer behind Serene Resort

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Fahad Lone is an accountant turned real estate developer who is building Serene Resort in Nathia Gali. Lone left his family business to create more productive and sustainable real estate options.

Early life and background

Fahad Lone's full name is Fahad Masood Lone. He has said his father's business was in a completely different field. [1]

Education

Lone studied accounting and economics at university level. He has said his education went in a direction completely opposite to real estate. [1]

Career

Lone has said he had to set up a new business locally. He had no previous connection to real estate. He has said that when he studied the Pakistani market at that time, real estate was at the top of the options. Lone has also said he took the right decision at the right time. [1]

His first real estate project was a horizontal project. He has said it was similar to a farmhouse development and that it was too basic for him. Lone chose vertical development because he saw it as more learning and a higher value-added product. He has said building construction involves a lot of science that has to be understood. [1]

Serene Resort

Lone has said work on the project began in 2020 and the project was kicked off in 2021. He has said building approvals came after a back-and-forth process. According to Lone, the project has gathered around 30 kanals of land, and the first phase of the project is sold out. [1]

Lone has said that, as a new businessman, he kept the ticket size low to reach a larger target market. He has said the project chose larger apartments when the economy was booming. Apartments in the project start from 2 crore, he has said, and every apartment comes with a lounge, a bedroom and a kitchen or kitchenette. He has also said that starting at a very low price incentivizes the early investor who has seen nothing yet. [1]

Lone has said apartment owners get housekeeping and room service at no charge when they stay, and that each apartment owner has 28 nights a year. He has said 60 percent of profit after costs is passed on to apartment owners. A conservative estimate, he has said, gives apartment owners about 1.5 to 2 lakh a month at 45 percent occupancy. He has said income rises sharply once occupancy passes 50 to 60 percent. Lone has also said the entire capex can be recovered and that capex is always insured. [1]

Lone has said the team started a YouTube channel to build and maintain investor confidence. He has said the channel documents the construction progress. On the building itself, he has said it has to be sealed so that air cannot enter or leave without intent. He has said aluminium windows sold in Pakistan cannot insulate a building well and that double-glazed UPVC windows make the building airtight and soundproof. The window order came to 32 million against a 16 million feasibility figure. [1]

Location and access

Lone has said access and traffic are the biggest problem in Galiyat. He has said most land in Galiyat is leased from the local government, and that a lease lets the holder build a hotel but not sell the land further. He has also said that, to protect the view, a plot on a downhill area cannot be built beyond about three or four storeys. [1]

On his first visit to look for land, Lone stayed at a hotel for about 7,000 to 8,000 rupees a night. He has said the same hotel now costs about 35,000 to 40,000 a night. He has said he has never come across formal data on the numbers of visitors. Lone has said traffic has made the drive to the bazaar office so hectic that he stopped going over the past year and a half, and that many people want to spend Ramadan in the cool mountains. [1]

Views

Lone has said trust is the main problem in Pakistan's real estate market. He has said transaction costs for non-utility real estate have risen sharply and are now so high that they stop deals from going ahead. He has said government policy now steers funds away from non-productive use, and that policy has made investing in non-utility real estate too expensive. [1]

Lone has said Lahore residents still have little appetite for living in vertical buildings. He has said a project below a certain scale is not feasible and that economies of scale let a developer make money without cutting corners. He has said land 300 kilometres from a city may not be inhabited for ten to twelve years, and so has no utility in the meantime. Lone has said rental yield is around 1.5 percent. He has said construction costs have gone up, that most of the construction industry is import based, and that prices have risen two to three times in some cases. [1]

Lone has said villas offered by current projects are priced above 100 million. He has said scarcity and the ability to generate revenue determine a commodity's long-term value. He has said his project is fundamentally different from conventional real estate, and that he does not think anyone else has put this much thought into building in the area. [1]

Lone has said a stronger dollar could push foreign tourists out of reach and send tourism toward local travellers. He has said he does not trust local operators to fix the internet problem without Starlink, and that he is not confident about the performance of approved signal-boosting devices. Lone has said remote-work stays are a huge segment that will drive future demand. [1]

Lone has said being positive about everything is part of his faith. He has said there is no room for pessimism. [1]

Timeline

2020
Work on the project began.[1]
2021
The project was kicked off.[1]

Appearances

DateTitleWhere
2025-01-31 Why most Pakistani real estate is a dead investment Thought Behind Things

Frequently asked questions

Who is Fahad Lone?

Fahad Lone, whose full name is Fahad Masood Lone, is an accountant turned real estate developer. He is building Serene Resort in Nathia Gali.[1]

What does Fahad Lone do?

Fahad Lone is a real estate developer. His first real estate project was a horizontal project, and he then chose vertical development because he saw it as more learning and a higher value-added product.[1]

Where did Fahad Lone study?

Fahad Lone studied accounting and economics at university level. He has said his education went in a direction completely opposite to real estate.[1]

What is Serene Resort?

Serene Resort is a resort being built by Fahad Lone in Nathia Gali. Lone has said the first phase of the project is sold out and that apartments in the project start from 2 crore.[1]

Why did Fahad Lone leave his family business?

Fahad Lone left his family business to create more productive and sustainable real estate options. He has said his father's business was in a completely different field.[1]

When did the Serene Resort project begin?

Fahad Lone has said work on the project began in 2020. He has said the project was kicked off in 2021.[1]

How do apartment owners earn from Fahad Lone's project?

Fahad Lone has said 60 percent of profit after costs is passed on to apartment owners. He has said a conservative estimate gives owners about 1.5 to 2 lakh a month at 45 percent occupancy, and that each owner has 28 nights a year.[1]

References

  1. Why most Pakistani real estate is a dead investment . Thought Behind Things , 2025-01-31.
Show the source passages (70 statements)
  1. Fahad Lone studied accounting and economics at university level. I've studied accounting and economics at university level
  2. Fahad Lone has said his education went in a direction completely opposite to real estate. my education is completely in the opposite direction
  3. Fahad Lone has said his father's business was in a completely different field. mere abba ka business bhi completely different tha
  4. Fahad Lone left his family business to create more productive and sustainable real estate options. He left his family business to create more productive and sustainable real estate options.
  5. Fahad Lone has said he had to set up a new business locally. I had to make this decision ke I had to set up a new business locally
  6. Fahad Lone has said that when he studied the Pakistani market at that time, real estate was at the top of the options. us waqt the best option jo thi na us waqt when you study the Pakistani market toh real estate was at the top
  7. Fahad Lone's first real estate project was a horizontal project. I started off with a horizontal project as well
  8. Fahad Lone has said his first horizontal project was similar to a farmhouse development. It was like a farmhouses ki ek tha, us pe us se shuru kiya tha kaam karna
  9. Fahad Lone has said the horizontal project was too basic for him. wahan se realize kiya ke it's too basic
  10. Fahad Lone chose vertical development because he saw it as more learning and a higher value-added product. Let's do something vertical us mein learning bhi behtar hogi and I thought I think ke woh ek zyada value added product hai
  11. Fahad Lone has said building construction involves a lot of science that has to be understood. there's a lot of science behind it that you have to understand
  12. Fahad Lone has said work on the project began in 2020 and the project was kicked off in 2021. 2020 mein working shuru ki, 2021 mein kick off kiya.
  13. Fahad Lone has said Lahore residents still have little appetite for living in vertical buildings. Lahore ke andar logon ki appetite to live in vertical buildings bilkul bhi nahi hai
  14. Fahad Lone has said a project below a certain scale is not feasible. if you're not operating at that scale toh woh business feasibility hi nahi banti
  15. Fahad Lone has said economies of scale let a developer make money without cutting corners. woh economies of scale kicks in and then you're actually able to make make money yourself as well without cutting corners
  16. Fahad Lone had no previous connection to real estate. mera real estate se koi previously talluq tha nahi
  17. Fahad Lone has said he took the right decision at the right time. it just happened ke I took a right decision at the right time
  18. Fahad Lone has said a stronger dollar could push foreign tourists out of reach and send tourism toward local travellers. dollar itna appreciate kar jayega ke foreign tourism logon ki pahonch se bahar ho jayegi aur woh sirf local tourism ki taraf aa rahe honge
  19. Fahad Lone has said that as a new businessman he kept the ticket size low to reach a larger target market. as a new businessman if I keep the ticket size low I'll have a larger target market
  20. Fahad Lone has said villas offered by current projects are priced above 100 million. villa they are more than 100 million. 100 million se upar hi hain
  21. Fahad Lone has said building approvals came after a back-and-forth process. ek to and fro yani ke process ke baad you were able to get the approvals to do the building
  22. Fahad Lone has said that, to protect the view, a plot on a downhill area cannot be built beyond about three or four storeys. they try to protect the view by making sure ke if your area is downhill you can't construct more than three G plus two ya G plus three se zyada nahi bana sakte
  23. Fahad Lone has said the project chose larger apartments when the economy was booming. So when we started off us waqt ek the economy was booming, theek hai? So we went for larger sizes
  24. Fahad Lone has said his project is fundamentally different from conventional real estate. we are massively different aur we are fundamentally different from the other conventional real estate
  25. Fahad Lone has said land 300 kilometres from a city may not be inhabited for ten to twelve years, and so has no utility in the meantime. agar woh 300 kilometer door hai shehar se us ne abaad hi aaj se das barah saal ke baad ja ke hona hai so das barah saal us ki koi utility nahi hai
  26. Fahad Lone has said rental yield is around 1.5 percent. jo rental yield hai woh dedh percent aa rahi hoti hai
  27. Fahad Lone has said construction costs have gone up. So I can show you ke bhai is ki cost of construction upar gayi hai na
  28. On his first visit to look for land, Fahad Lone stayed at a hotel for about 7,000 to 8,000 rupees a night. when I went there to look for land so I stayed at a hotel toh maine I think saat ya aath hazaar rupaye per night pe thahra hoon ga us hotel mein
  29. Fahad Lone has said the same hotel now costs about 35,000 to 40,000 a night. It's the same hotel, same facilities ab woh paintis se chaalis hazaar per night pe chadhta hai
  30. Fahad Lone has said he has never come across formal data on the numbers of visitors. I've never come across formal formal data of the numbers coming in
  31. Fahad Lone has said traffic has made the drive to the bazaar office so hectic that he stopped going over the past year and a half. pichle dedh saal se I've stopped going to the bazaar office because it's such a hectic drive now
  32. Fahad Lone has said many people want to spend Ramadan in the cool mountains. So a lot of people want to stay have their fasts apne roze wahan thand mein ja ke rakhna chahte hain
  33. Fahad Lone has said access and traffic are the biggest problem in Galiyat. Ab yahan pe Galiyat mein jo Galiyat mein na jo sabse bada problem hai na woh hai access ka
  34. Fahad Lone has said most land in Galiyat is leased from the local government. bahut mostly land jo Galiyat mein exist karta hai na nahi nahi woh hota hai leased from the local government
  35. Fahad Lone has said a lease lets the holder build a hotel but not sell the land further. lease ka problem ye hai ke you can build a hotel on top of it but you can't sell it further
  36. Fahad Lone has said the project has gathered around 30 kanals of land. We we have been able to gather around 30 kanals
  37. Fahad Lone has said apartment owners get housekeeping and room service at no charge when they stay. Aapko housekeeping, room service ye sari facilities milengi aur koi charge nahi kiya jayega
  38. Fahad Lone has said 60 percent of profit after costs is passed on to apartment owners. kharche nikalne ke baad jo profits hain na uska 60% we will pass on to apartment owners
  39. Fahad Lone has said a conservative estimate gives apartment owners about 1.5 to 2 lakh a month at 45 percent occupancy. roughly dedh se do lakh ke ke aas paas monthly income aayegi. This is based on 45% occupancy
  40. Fahad Lone has said apartments in the project start from 2 crore. Uh starts with starts from do crore.
  41. Fahad Lone has said each apartment owner has 28 nights a year. You also have 28 nights
  42. Fahad Lone has said income rises sharply once occupancy passes 50 to 60 percent. jaise hi ye 50-60% hit karti hain na ye ye paanch paanch percent se nahi increase karta ye massively increase karta hai
  43. Fahad Lone has said the entire capex can be recovered and that capex is always insured. Even then you can get your entire capex back. Your capex is always insured
  44. Fahad Lone has said most of the construction industry is import based. Most of the construction industry is import based
  45. Fahad Lone has said trust is the main problem in Pakistan's real estate market. Ab desire aa gayi ab trust Pakistan ke Pakistan ke andar problem hi ye hai na
  46. Fahad Lone has said that starting at a very low price incentivizes the early investor who has seen nothing yet. you start off at a very low price. So you incentivize the early investor jisne kuch bhi nahi dekha
  47. Fahad Lone has said the team started a YouTube channel to build and maintain investor confidence. us confidence ko na sirf build karne ke liye balki maintain karne ke liye na we we started a YouTube channel
  48. Fahad Lone has said the YouTube channel documents the construction progress. Is tarah ki choti choti cheeze explain ki aur phir saath humne apni jo construction progress thi na usko document kiya
  49. Fahad Lone has said prices have risen two to three times in some cases. 2x in certain cases 3x hui hain prices
  50. Fahad Lone has said the window order came to 32 million against a 16 million feasibility figure. in my feasibility they were at 16 million. We ended up placing the order for 32 million
  51. Fahad Lone has said the building has to be sealed so that air cannot enter or leave without intent. So we have to seal the building. We have to make sure ke nothing comes in, nothing goes out
  52. Fahad Lone has said aluminium windows sold in Pakistan cannot insulate a building well. jo aluminium windows available hain woh infrastructurely incapable hain of insulating the the building
  53. Fahad Lone has said double-glazed UPVC windows make the building airtight and soundproof. ek toh ye air tight kar deti hai aur sound proof bhi kar deti hai
  54. Fahad Lone has said the first phase of the project is sold out. the first phase that jiski abhi finishing wagera ho rahi hai that's sold out
  55. Fahad Lone has said scarcity and the ability to generate revenue determine a commodity's long-term value. Number one scarcity. Agar limited hogi supply ke andar toh uski value badhegi, right? Aur number do cheez it's ability to generate revenue. Ye do cheeze hain jisse uski long term value determine hogi
  56. Fahad Lone has said he does not trust local operators to fix the internet problem without Starlink. Jab tak without Starlink toh that's I mean I don't trust any local operator to fix that
  57. Fahad Lone has said he is not confident about the performance of approved signal-boosting devices. PTA ki kuch approved devices hoti hain jo ki aapke signal boost kar deti hain. But I am not very confident about their performance
  58. Fahad Lone has said remote-work stays are a huge segment that will drive future demand. So I personally see that as a huge huge segment that is like you know that's going to drive a lot of demand in the future
  59. Fahad Lone has said every apartment comes with a lounge, a bedroom and a kitchen or kitchenette. every apartment comes with a lounge and a bed separate bedroom or kitchen kitchennette
  60. Fahad Lone has said he does not think anyone else has put this much thought into building in the area. the thing that we are building I don't think ke koi kisi ne bhi itna thought dalne ki koshish ki hai wahan build karne mein
  61. Fahad Lone has said being positive about everything is part of his faith. wo deen ka hissa hai ke we have to be positive about everything
  62. Fahad Lone has said there is no room for pessimism. Aur na-umeedi jo hai na, wo kya naam hai, uski koi gunjaish nahi hai
  63. Fahad Lone has said transaction costs for non-utility real estate have risen sharply. ke jo hamari non-utility based jitni real estate hai, uski transactional cost itni barh gayi hai, barha di gayi hai
  64. Fahad Lone has said transaction costs are now so high that they stop deals from going ahead. yaani ke wo incentive hi khatam ho gaya hai ke agar aapne ek file ke upar kuch paise kamane hain na, to wo kuch 30-40% aapne nahi kamaya na, to wo ghum hi nahi sakte aap transaction ke, transaction cost itni zyada ho gayi hain
  65. Fahad Lone has said government policy now steers funds away from non-productive use. wo non-funds ko usne ek direction de di hai ke non-productive use mein nahi daalna
  66. Fahad Lone has said policy has made investing in non-utility real estate too expensive. Itna mehenga kar diya, kya naam hai, non-utility based real estate mein invest karna ke aapne policy se usko effectively incapable kar diya
  67. Fahad Lone is an accountant turned real estate developer. Joining us today is Fahad Masood Lone, an accountant turned real estate developer, is building a unique resort in Nathia Gali
  68. Fahad Lone is building a resort in Nathia Gali. is building a unique resort in Nathia Gali, aiming to redefine tourism in Pakistan
  69. The host's description gives Fahad Lone's full name as Fahad Masood Lone. Joining us today is Fahad Masood Lone
  70. Fahad Lone's resort is named Serene Resort. Serene Resort’s Instagram: