Real Estate Development in Karachi: A Useful Guide

Did you know that Habib Bank Plaza was the tallest building in Pakistan for over four decades until it was surpassed by MCB Tower in 2005? For many years, the Ruet-e-Hilal committee used this iconic building for moon sightings.

Karachi is the provincial capital of Sindh and country’s largest city by land and population. The city is positioned on the coastline of the Arabian Sea and is the financial hub of Pakistan. It has a deep sea port and major industrial and commercial zones of the country.

The City of Life or what most people call the City of Quaid was the Federal Capital of Pakistan from 1947 to 1959. Besides the modern architecture of the city, the old buildings represent the British era and showcase the architectural design elements of the West and Europe.

Karachi's people, culture, food, and lively energy make it a remarkable place to live in. It is important to understand the history of the city before looking at the real estate development in Karachi.

Historical Overview of Karachi

Karachi has a rich history which we have segmented here in pre and post-partition eras. Let’s dive into the pre-partition history of the city first.

Karachi Before the Partition:

Karachi has a rich history that dates back about 2,500 years. It was a developed town and a successful business hub before the British took control in 1839. The first ever recorded event of the place belongs to 326 BC when Alexander’s troop stayed here on their route to the Euphrates.

The former name of the city was Kolachi, named after Mai Kolachi. She was a fisherwoman who first settled here. It was initially a small settlement that turned into a village over time and ultimately became a well-developed town.

Mirza Ghazi Baig, the city administrator in the Mughal era, contributed significantly to the development of coastal areas of Sindh, which included Karachi as well.

Karachi After the Partition:

Post-partition, Karachi witnessed its first real estate development during the 1950s and 1960s when neighborhoods like DHA and Gulshan-e-Iqbal were established. The first high-rise building in the city was Habib Bank Plaza, built in the year 1963. The iconic 22 story building is located on I.I. Chandigarh Road.

There have been multiple parks, commercial areas, markets, industrial zones, malls, amusement parks, and fun spots added to the metropolitan city over the years. The construction of mid-rise & high-rise buildings, flyovers, bridges, underpasses, and signal-free corridors has uplifted the infrastructure of Karachi to a significant level.

Real Estate Development in Karachi

Karachi has witnessed a tremendous amount of real estate development in the last couple of decades. The following projects represent a glimpse of it.

Gulshan-e-Maymar:

Launched in 1980, Gulshan-e-Maymar is the first ever master-planned gated community to exist in Karachi. The project is positioned close to the superhighway, connecting Karachi and Hyderabad.

Gulshan-e-Maymar is divided into multiple sectors, offering different plot sizes and apartments in the residential lanes. Each sector consists of a residential area, commercial space, and a set of amenities including park, school, mosque, and parking area.

The amenities offered in the project include 24*7 security, ambulance service, school, hospital, college, playground, petrol pump, swimming pool, mosque, library, police station, retail outlets, and restaurants.

Bahria Town:

Bahria Town Karachi was launched in 2014. The neighborhood is close to the M9 motorway, connecting Karachi and Hyderabad. It’s more than just a housing society. It’s a city within a city that can host thousands of residents.

The project's attention to detail, amenities, and luxury features are unique. The community has multiple projects that incorporate houses, villas, farmhouses, apartments, penthouses, and commercial spaces.

Bahria Town Karachi features exclusive facilities like the Grand Jamia mosque, Rafi cricket stadium, 36-hole night golfing facility, theme park, and its own version of the Eifel Tower. The community has 24*7 security, schools, hospitals, retail outlets, day and night zoo, parks, amusement parks, and numerous recreational spots.

Naya Nazimabad:

Naya Nazimabad is a gated community in Karachi, just 2 kilometers away from Sakhi Hassan Chowrangi. The community offers multiple plot sizes that you can choose from and apartments that showcase the sheer green landscape of the project.

Naya Nazimabad is divided into different residential blocks. Each block encompasses a dedicated commercial space, mosque, park, and security checkpoint. The community offers its residents multiple amenities, including the Jama mosque, education complex, vocational training center, hospital, gymkhana, cricket and football stadiums, horseback riding club, and banquet hall.

Future Of Real Estate in Karachi

The real estate development in Karachi and its suburbs is in full spin. There are numerous residential and commercial projects being built, ranging from luxury properties to affordable ones. A few of them are listed below.

Emaar Oceanfront:

Emaar Oceanfront carries the legacy of the iconic Emaar Group, based in the UAE. It is situated in DHA Phase 8, right on the coastline of Karachi. The community offers a high-end lifestyle to its residents. It is the perfect blend of luxury, convenience, and calmness of the sea.

The project is the only luxury society in Karachi that is located on the coastline.

The project offers multiple unit types, including apartments, duplexes, penthouses, and commercial spaces. The offered amenities include infinity swimming pool, kids' play area, recreational zones, gym, business center, residents lounge, and secure access to the beach.

Al Qaim Housing:

Al-Qaim Housing is a gated community by Ali Builders & Developers, located on the M9 motorway that connects Karachi and Hyderabad. The community has a secure and peaceful environment. It offers a number of recreational spots and facilities to its residents.

The project offers multiple residential and commercial property options that you can choose from at affordable prices and easy payment plans.

The society is divided into multiple residential blocks. It includes Al Qaim city, Al Qaim city extension, Al Qaim exclusive phases 1 and 2, Al Qaim exclusive phases 3 and 4, Al Qaim midway city, Al Qaim midway city extension, Al Qaim mid-way phase 2, and Noor e Kareem.

The offered amenities include park, school, hospital, standby generator, community center, water recycling plant, emergency response center, fire station, shopping mall, eidgah, and playgrounds.

DHA City Karachi:

Launched in 2011, DHA City Karachi is one of the largest private societies in the region by area. The community is positioned on the super highway that connects Karachi and Hyderabad.

For the first time, DHA authorities have allowed civilians to purchase plots directly unlike the previous times when armed officers used to buy plots and they would sell them to civilians in the open market. However, the prices vary for civilians and armed officers.

The project currently has 16 residential blocks with different prices and payment plans. These blocks are further divided into sub-sections with different residential and commercial plots.

The community offers multiple essential and commercial amenities to its residents along with different recreational facilities as well.

In Summary:

Over the years, Karachi has seen incredible development in the real estate sector. The city has a lot of potential for investors and can provide great returns upon investment.