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ABAD announced Karachi would undergo the construction of some 40 storey high rise buildings soon

Karachi: The Association of Builders & Developers of Pakistan (ABAD) announced that the city would undergo the construction of 40-storey high-rise buildings soon. To this effect, sources said that private builders were ready to launch high-rise projects in Karachi as part of the 1,000-housing projects under the recently announced construction relief package.

ABAD Chairman Hasan Bakshi stated that Karachi would soon witness the launch of construction work on some 30 to 40 high-rise buildings and each complex would comprise 30 floors.

Prime Minister (PM) Imran Khan recently said that around 13 builders had pledged to invest PKR 1.37 trillion for the construction of 100,000 housing units under the government’s Naya Pakistan Housing Programme (NPHP) initiative. The PM further revealed that the construction work on these projects would likely begin during the upcoming three to four months.

Meanwhile, Bakshi said that the builders expect at least the construction of grey structure of the high-rise buildings in Karachi and other such projects started under the relief package by September 2022. He added that the Federal Board of Revenue (FBR) had already registered 40 to 50 builders and developers under the construction package announced by the executive. Around 5,000 more builders and developers were also in the queue to be registered under the PM’s scheme, he said.

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