Karachi Division Real Estate News and Land Insights

Karachi: [ReNews Pakistan]
Karachi’s Azeempura Flyover project has been completed at a cost of Rs 1.47 billion and is expected to be opened for traffic next week, Karachi Mayor Barrister Murtaza Wahab has announced.
The mayor made the announcement during a late-night visit to the project site, where he reviewed the final stages of work. He said the main structure of the flyover had been completed, while only minor finishing work remained. According to him, the remaining work will be completed within a week, after which the flyover will be made operational for motorists.
Barrister Murtaza Wahab said the project had successfully met the 100-day completion target set by Sindh Chief Minister Syed Murad Ali Shah. He described the timely completion of the flyover as an important step in improving Karachi’s urban infrastructure and addressing the city’s growing traffic problems.
The Azeempura Flyover is expected to play a key role in improving traffic flow between Shahrah-e-Bhutto and Jinnah International Airport. Once opened, the project will provide better connectivity for commuters and help reduce congestion on surrounding roads, particularly in areas that experience heavy traffic pressure during peak hours.
The mayor said the project reflects the Karachi Metropolitan Corporation’s efforts to modernize the city’s road network and provide relief to citizens facing daily traffic delays. He added that infrastructure development remains a priority for the city administration, especially in areas where road bottlenecks affect travel time and public mobility.
Officials believe that the opening of the Azeempura Flyover will not only improve access to the airport but also support smoother movement across nearby commercial and residential areas. The project is being seen as part of a broader push to upgrade Karachi’s transport infrastructure and make key city routes more efficient for daily commuters.

Karachi | ReNews Pakistan
The Ministry of Information Technology and Telecommunication has launched a fresh review of the Rs 31 billion Karachi IT Park project, one of Pakistan’s largest planned technology infrastructure initiatives, after repeated procurement delays and implementation challenges slowed its progress.
The review will be carried out through the Pakistan Software Export Board, which has issued an Expression of Interest to hire a consultancy firm for a third party assessment of the project’s technical, engineering and contractual documents. The exercise is aimed at reassessing the project before the government moves toward the next stage of implementation and relaunches the bidding process.
According to the Expression of Interest, consultancy firms with relevant experience in construction contracts, project execution and technical document review have been invited to participate. The selected firm will examine the project’s feasibility studies, detailed engineering designs, Bills of Quantities, technical specifications, cost estimates and other related documents.
Officials believe the independent review has become necessary because the project has faced several obstacles, including failed tendering attempts and concerns over earlier timelines. The construction schedule for the Karachi IT Park was reportedly aligned with that of the Islamabad IT Park, despite the Karachi project being significantly larger in scope and scale.
The ministry is also expected to use lessons learned from delays in the Islamabad IT Park project to make the Karachi project more practical for contractors and more attractive for future bidders. After completion of the review, the government is likely to revise key project conditions and restart the procurement process.
Official figures show that the Karachi IT Park has so far achieved around 10 percent physical progress, while financial progress stands at nearly 5 percent. Although the project was originally planned for completion over a six year period, implementation has already been delayed by almost three years.
To keep the project moving, the Ministry of IT has sought Rs 11.5 billion under the Public Sector Development Programme for fiscal year 2026-27. The funding is expected to support the next phase of work once the review and procurement process are completed.
The project has also faced location related complications due to its proximity to Jinnah International Airport. Objections from the Civil Aviation Authority led to revisions in the building’s height and design, while the original land allotment was also cancelled.
Despite these challenges, preliminary work on the site has been completed. Officials said boundary wall construction and geotechnical testing have already been carried out, while detailed designs have been prepared by international consultants.
Once completed, the Karachi IT Park is expected to house more than 200 technology companies. The facility is planned to include modern office space, research facilities, a data center and other support infrastructure aimed at strengthening Pakistan’s digital economy, promoting innovation and expanding the country’s technology exports.

Karachi: [ReNews Pakistan]
The National Accountability Bureau (NAB) Karachi has carried out a major action against international money laundering by freezing foreign bank accounts worth $4.5 million in Mauritius linked to a private housing society. The value of these accounts is said to be more than Rs1.26 billion in Pakistani currency.
According to NAB, the action was taken under the Anti Money Laundering Act 2010 after formal approval from an accountability court in Karachi. Officials said two foreign bank accounts linked to the owners of Bahria Town and held in Mauritius’ Silver Bank had been frozen as part of legal proceedings for asset recovery.
During the investigation, it emerged that funds linked to the private housing society were allegedly transferred abroad from Pakistan through an illegal hawala and hundi network. According to NAB, the funds were first sent to the United Arab Emirates and later transferred to Mauritius, where they were kept in joint bank accounts.
NAB officials said the frozen accounts hold a total of $4.5 million, and legal proceedings for the confiscation and repatriation of the money to Pakistan have been initiated through the Ministry of Foreign Affairs. Officials said the process has now entered its final stages.
NAB said efforts would continue through international cooperation to identify, seize and repatriate illegal assets held abroad. The bureau said the action is part of its ongoing campaign against money laundering and the illegal transfer of capital outside Pakistan.