Sunday 8 April 2012

Property boom in Afghanistan as investors build fortress

 

Property boom in Afghanistan as investors build fortress

THE biggest housing boom for 50 years is happening in war-battered Afghanistan, as developers construct fortress-like homes to prepare for Western troops pulling out.

Saeed Chaudhry, manager of The Baron compound in Kabul, said: "Afghanistan is still the land of opportunity for people.

Another complex is being built in Mazar-e-Sharif, an area which officials want to turn into an Afghan Dubai.

"Our philosophy was to offer secure accommodation with the facilities of a five-star hotel.

One in the former Taliban heartland of Kandahar has a "safe environment – in a very hostile area", says a review.

The Baron is protected by high concrete blast walls, machine gun-wielding guards and surrounded by CCTV.

Hundreds of millions of pounds are being invested in huge compounds to provide both foreign and Afghan elite a safe haven.

It boasts a bar, gym, squash courts, outdoor swimming pool, saunas and even a virtual golf course.

One investor said: "People are gambling on foreigners trying to stay in safer places when the soldiers leave.

Property boom in Afghanistan as investors build fortress



Trade News selected by Local Linkup on 08/04/2012