Commercial can give solid returns, but like you said, the risk level is different. Vacancies and market shifts hit commercial spaces harder sometimes. It really depends on how much involvement and risk you are comfortable with.
From what I have seen in residential markets, many investors prefer building their own homes on good plots. A lot of clients ask about
1 kanal house construction cost in lahore before deciding whether to build or buy. I had shared some thoughts on this on Elegant Properties as well. Personally, I feel residential property is easier to manage long term, especially if you plan to rent it out to families.