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Copyright PakRealEstate.com. Material in this report may not be reprinted, reproduced, orrecorded in any manner, in whole or in part, without the specific written permission ofPakRealEstate.com. Information contained herein has been obtained from sources believed tobe reliable. PakRealEstate.com make no guarantee, warranty or representation regarding theaccuracy of information obtained from third-party sources. For more information contact+92.21.538.8152
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Foreword
We believe in the power of knowledge. It is an information driven world. Knowing
how to find & use information is the key to success today.
You have made a good purchase & we hope that this Survey of the city of Karachiis beneficial to the growth of your organization.
The scope of this Research consists of a comprehensive market analysis of majorresidential & commercial areas of the city of Karachi. The completion of this
report involved:
i. Area to area surveys which were conducted over a 50 day periodii. Interviews with local property managers
iii. Collection of market data through discussions with persons
knowledgeable of the local real estate market.
The purpose of the report is to evaluate different segments of the local realestate market as of the effective date of this report.
Details of Survey & Research conducted:
Major Residential Areas
Major Commercial Areas
Major Industrial Areas
Sale and Rental Values of Houses [Per sq yd]
Sale Values of Plots [Per sq. yd]
Sale and Rental Values of Apartments [Per sq ft]
Sale and Rental Values of Commercial Properties [Offices, Showrooms, shops]
Unit Prices
Market Trends Major Projects
Important Places
Area Profile
City Profile
Plot Sizes
Construction Trends
Income Levels of residents
New Developments
Major Residential, Commercial & Industrial Areas
Postal Codes
Union Council Information
Town Information
Cantonment Information
Demographic patterns
Furthermore, the surveys & research were integrated on satellite imagery usingGoogle Earth. The report contains screen-shots of major areas & buildings andwhere appropriate, coordinates have been provided.
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This report is the intellectual property right of PakRealEstate.com. No other
person or entity may use this report for any reason whatsoever without the
express written permission of PakRealEstate.com.
The findings and conclusions reported are based on the conditions that exist as of theeffective date of this report. These factors are subject to change and may alter, orotherwise affect the findings and conclusions presented in this report.
To the best of our knowledge, this report presents an accurate evaluation of marketconditions for Karachi as of the effective date of this report.
While the analysis that follows is based upon information obtained from sourcesbelieved to be reliable, no guarantee is made of its accuracy.
Feel free to contact us with any questions or comments.
Respectfully submitted:
PakRealEstate.com
Shahbaz Mukhtar Gibran Y. Bham
Head, Research Head, Strategy
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TABLE OF CONTENTSCHAPTER I: DEFINING KARACHI
INTRODUCTION.........................................................................................................................................8Geography ..............................................................................................Error! Bookmark not defined.Climate ...................................................................................................Error! Bookmark not defined.History ....................................................................................................Error! Bookmark not defined.Government ............................................................................................Error! Bookmark not defined.Demographics .........................................................................................Error! Bookmark not defined.Economy.................................................................................................Error! Bookmark not defined.Transportation.........................................................................................Error! Bookmark not defined.Educational Institutions ..........................................................................Error! Bookmark not defined.Culture ....................................................................................................Error! Bookmark not defined.Museums.................................................................................................Error! Bookmark not defined.
Music ......................................................................................................Error! Bookmark not defined.Film.........................................................................................................Error! Bookmark not defined.Poetry......................................................................................................Error! Bookmark not defined.Cuisine....................................................................................................Error! Bookmark not defined.Tourist Attractions..................................................................................Error! Bookmark not defined.Challenges ..............................................................................................Error! Bookmark not defined.Postal Codes ...........................................................................................Error! Bookmark not defined.
CHAPTER II: ADMINISTRATION
INTRODUCTION.......................................................................................................................................13MUNICIPALS &TOWNS ....................................................................ERROR!BOOKMARK NOT DEFINED.Baldia Town ..........................................................................................................................................17Bin Qasim Town.....................................................................................Error! Bookmark not defined.
Gadap Town ...........................................................................................Error! Bookmark not defined.Gulberg Town.........................................................................................Error! Bookmark not defined.Gulshan Town.........................................................................................Error! Bookmark not defined.Jamshed Town ........................................................................................Error! Bookmark not defined.Kiamari Town.........................................................................................Error! Bookmark not defined.Korangi Town.........................................................................................Error! Bookmark not defined.Landhi Town...........................................................................................Error! Bookmark not defined.Liaquatabad Town..................................................................................Error! Bookmark not defined.Layari Town ...........................................................................................Error! Bookmark not defined.Malir Town.............................................................................................Error! Bookmark not defined.New Karachi Town.............. .......... ........... .......... ........... .......... ........... ....Error! Bookmark not defined.North Nazimabad Town ........... .......... ........... ........... .......... ........... .........Error! Bookmark not defined.Orangi Town...........................................................................................Error! Bookmark not defined.Saddar Town...........................................................................................Error! Bookmark not defined.Shah Faisal Town ...................................................................................Error! Bookmark not defined.SITE Town .............................................................................................Error! Bookmark not defined.CANTONMENTS.................................................................................ERROR!BOOKMARK NOT DEFINED.DEFENCE HOUSING AUTHORITY.......................................................ERROR!BOOKMARK NOT DEFINED.
CHAPTER III: MAJOR COMMERCIAL AREASERROR! BOOKMARK NOT DEFINED.
INTRODUCTION.......................................................................................................................................21Shahrah-e-Faisal ....................................................................................................................................22Ibrahim Ismail Chundrigar Road .......... ........... .......... ........... .......... ........Error! Bookmark not defined.
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M.A. Jinnah Road...................................................................................Error! Bookmark not defined.Saddar .....................................................................................................Error! Bookmark not defined.Tariq Road..............................................................................................Error! Bookmark not defined.Clifton....................................................................................................................................................24
Defence Housing Authority....................................................................Error! Bookmark not defined.Hyderi .....................................................................................................Error! Bookmark not defined.Zamzama ................................................................................................Error! Bookmark not defined.
CHAPTER IV: MAJOR BUILDINGS & CONSTRUCTION
MCB Tower...........................................................................................................................................27Habib Bank Plaza ...................................................................................Error! Bookmark not defined.Saima Trade Towers 1 & 2 ..................................................................Error! Bookmark not defined.PRC Towers............................................................................................Error! Bookmark not defined.Sea Breeze Plaza.....................................................................................Error! Bookmark not defined.Techno City ............................................................................................Error! Bookmark not defined.PNSC Building .......................................................................................Error! Bookmark not defined.Bon Vista Apartments.............................................................................Error! Bookmark not defined.
Shadman Residency................................................................................Error! Bookmark not defined.CHAPTER IV: MAJOR RESIDENTIAL AREAS
INTRODUCTION .........................................................................................................................29
Clifton....................................................................................................................................................30Defence Housing Authority................................................................................................................... 31PECHS (Pakistan Employees Co-operative Housing Society)...............Error! Bookmark not defined.KDA .......................................................................................................Error! Bookmark not defined.Gulistan-e-Jauhar....................................................................................Error! Bookmark not defined.Gulshan-e-Iqbal ......................................................................................Error! Bookmark not defined.Nazimabad........... .......... ........... ........... .......... ........... .......... ........... .........Error! Bookmark not defined.Garden ....................................................................................................Error! Bookmark not defined.
CHAPTER VI: INDUSTRIAL AREAS
INTRODUCTION.......................................................................................................................................33SITE....................................................................................................................................................... 34Korangi ...................................................................................................Error! Bookmark not defined.Noori Abad Industrial Area ......... ........... ........... .......... ........... .......... ......Error! Bookmark not defined.Port Qasim..............................................................................................Error! Bookmark not defined.
CHAPTER VII: MAJOR DEVELOPMENTS & INVESTMENT OPPURTUNITIES
INTRODUCTION.......................................................................................................................................35Creek Vistas............................................................................................Error! Bookmark not defined.Creek Marina ..........................................................................................Error! Bookmark not defined.Emaars Crescent Bay.............................................................................Error! Bookmark not defined.E-Planet ..................................................................................................Error! Bookmark not defined.
Emaars Diamond Bar Island City..........................................................Error! Bookmark not defined.DHA II....................................................................................................Error! Bookmark not defined.Super Highway & Scheme 33.................................................................Error! Bookmark not defined.Gulistan-e-Jauhar....................................................................................Error! Bookmark not defined.
CHAPTER VIII: MAJOR LANDMARKS & ATTRACTIONS
Civic Center...........................................................................................................................................37Expo Center ............................................................................................Error! Bookmark not defined.Flag Staff House .....................................................................................Error! Bookmark not defined.Frere Hall................................................................................................Error! Bookmark not defined.
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Mazar-e-Quaid (The Quaid Mausoleum)................................................Error! Bookmark not defined.Navy Museum........... ........... .......... ........... .......... ........... .......... ........... ....Error! Bookmark not defined.PAF Museum..........................................................................................Error! Bookmark not defined.Quaid-e-Azam Museum..........................................................................Error! Bookmark not defined.
Safari Park ..............................................................................................Error! Bookmark not defined.St. Patricks Church ................................................................................Error! Bookmark not defined.Supreme Court........................................................................................Error! Bookmark not defined.Jinnah Airport .........................................................................................Error! Bookmark not defined.Major Hotels...........................................................................................Error! Bookmark not defined.
CHAPTER IX: CONCLUSIONS & RECOMMENDATIONS
CHAPTER X: GLOSSARY & TERMS
APPENDIX........................................................................................................................................... 39
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Chapter 1
Defining Karachi
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IntroductionPakistan's cities are expanding much faster than the overall population. At
independence in 1947, many refugees from India settled in urban areas. In the 1950s,more than one-half of the residents of several cities in Sindh and Punjab weremuhajirs (migrants). Some refugee colonies were eventually recognized as cities intheir own right.
Between 1951 and 1981, the urban population quadrupled. The annual urban growthrate during the 1950s and 1960s was more than 5 percent. This figure droppedslightly in the 1970s to 4.4 percent. Between 1980 and early 1994, it averaged about4.6 percent. By early 2004, about 42 percent of all Pakistanis lived in urban areas,with 23 percent of the total population living in three cities of over 1 millioninhabitants each--Lahore, Faisalabad, and Karachi.
The key reason for migration to urban areas has been the limited opportunity foreconomic advancement and mobility in rural areas. The economic and politicalcontrol that local landlords exercise in much of the countryside has led to thissituation.
The urban migrant is almost invariably a male. He retains his ties with his village, andhis rights there are acknowledged long after his departure. At first, the migration isfrequently seen as a temporary expedient, a way to purchase land or pay off a debt.Typically, the migrant sends part of his earnings to the family he left behind andreturns to the village to work at peak agricultural seasons. Even married migrants
usually leave their families in the village when they first migrate. The decision tobring wife and children to the city is thus a milestone in the migration process.
As cities have grown, they have engulfed surrounding villages, bringing agriculturistsinto the urban population. Many of these farmers commute to urban jobs from theiroriginal homes. The focus of these individuals' lives remains their family and fellowvillagers. Similarly, migrants from rural areas who have moved to the cities stay inclose touch with relatives and friends who have also moved, so their loyalties reflectearlier patterns. The Pakistani city tends to recreate the close ties of the ruralcommunity.
Pakistani cities are diverse in nature. The urban topology reflects the varied politicalhistory within the region. Some cities dating from the medieval era, such as Lahoreand Multan, served as capitals of kingdoms or small principalities, or they werefortified border towns prior to colonial rule. Other pre-colonial cities, such asPeshawar, were trading centers located at strategic points along the caravan route.Some cities in Sindh and Punjab centered on cottage industries, and their trade rivaledthe premier European cities of the eighteenth and early nineteenth centuries.
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Under colonial rule, many of the older administrative cities declined. Where theBritish located a trading post (factory) near an existing administrative center, the city
was typically divided into old and new, or European, sections. New towns and citiesalso emerged, especially in the expanding canal colonies, Faisalabad (formerlyLyallpur) is such a city. The town of Karachi expanded rapidly to become a center ofrail and sea transport as a consequence of British rule and as consequence of theopening of massive irrigation projects and the increase in agricultural exports. Thus,Pakistan's two largest cities, Karachi and Lahore, illustrate how differing regional andsociocultural histories have shaped the variations among Pakistan's cities.
Karachi absorbed tens of thousands ofmuhajirs following independence in 1947,grew nearly two and one-half times from 1941 to 1951, and nearly doubled again inthe following decade. Karachi is by far Pakistan's largest city and is still rapidly
growing.
Karachi's rapid growth has been directly related to the overall economic growth in thecountry. The partition of British India into the independent states of Pakistan andIndia prompted an influx into Pakistan of Muslim merchants from various parts of thenew, Hindu-majority India. These merchants, whom sociologist Hamza Alavi refersto assalariat, had money to invest and received unusual encouragement from thegovernment, which wanted to promote the growth of the new state.
Karachi at first developed in isolation. Relatively few people from outlying areaswere engaged in running its factories, and the city had little impact on Pakistan's
cultural fabric. But when the economies of southern Sindh and parts of Punjab beganto expand, large numbers of migrants flooded the city in search of work (generallylow-paying jobs), and Karachi become the hub of the nation's commerce. The city,however, also has serious problems. It has the poorest slums in the country, and haspreviously suffered serious interethnic conflict as a consequence of the influx ofmany competing groups.
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CliftonThough bustling with commercial activity all over, Clifton also has luxurious and quietlycomfortable residential properties and range from small buildings, luxurious apartment
buildings and comfortable townhouses. The Shadman Residency apartment complex inBlock 5 which has a penthouse suites and a swimming pool is one such example.
Property Type SizeSale Price
(PKR)Sale Price
(USD)Rental Price
(PKR)Rental Price
(USD)
200 to 4000 60,000 to 80,000$1,000 -$1,333Residential Plots
sq yards per square yard per sq. yard
200 to 400070,000 to120,000 $1166 - $2000 240 to 440 $4 - $7.3Bungalows / Town
Houses
sq yards per square yard per sq. yardper square
yard per sq. yard
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Introduction
INTRODUCTION
Karachi continues to grow, stretching east, west north & south. The developments rangefrom transforming barren land facing the Arabian Sea in DHA Phase VIII into Pakistansmost exclusive residential community as well as many industrial & commercial projectsbeing undertaken in Port Qasim. Super Highway/Scheme 33 & Gulistan-e-Jauhar are thesites where Karachis growing middle class will shift to gradually over the next ten tofifteen years.
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Civic Center
Chapter 8
Major ForeignInvestments
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CIVIC CENTERCivic Center refers to the head offices of the City District Government Karachi (CDGK)
and this office complex is situated at Hassan Square near Karachi Expo Center on ManUniversity Road in the limits of Gulshan town.
Map Coordinates: 24.53.58.60N 67.04.23.20E
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Tariq Road
AL-NAJEEBI ELECTRONIC BAZAARMr. AmirSaddar
IRFAN ESTATEMr. IrfanKorangi, industrial & warehouse plot/price info across City.
MILLENIUM DEVELOPERSMr. KareemI.I. Chundrigarh Road
SAIMA TRADE TOWERSyed Jamal AliI.I. Chundrigarh Road
STANDARD REAL ESTATEMr. ZahidDHA Commercial Agent. Specialist in Zamzama.
ESTATE MARTMr. Junaid SaleemProvided us overview of future developments in Gulistan-e-Jauhar
M.K. ESTATEMr. TaimurAgent in Malir, old surveys.
LIVNA ESTATEMr. Athar AliProvided information & assisted in surveys of Gulshan / Gadap.
CITY ESTATE
Mr. Imran MahmoodAssisted in Super Highway Survey. Old data.
SHAH TARIQ ASSOCIATESShah TariqSpecialist in Super Highway, Scheme 33
N.B.A. AWAN HOUSEMr. EhsanP.E.C.H.S. demographics; survey review for PECHS, Tariq Rd. & Shahrah-e-Faisal.