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Stay informed with the latest developments in real estate, business, and investment trends across Pakistan and beyond. Chakor News delivers timely updates, expert insights, and market analysis to help you make informed decisions. Whether it’s project launches, economic shifts, or updates on regulatory changes, our news coverage keeps you ahead of the curve. Explore reliable stories, impactful headlines, and trusted reporting—only on Chakor News.

CategoriesDevelopments Construction News Real Estate Urban Developments & Planning

KMC to Start Work on 140 Karachi Roads Within Days, With Rs13 Billion Set Aside

KARACHI: The Karachi Metropolitan Corporation (KMC) will begin building and rehabilitating about 140 roads across the city within two to three days, at an estimated cost of Rs13 billion, Mayor Murtaza Wahab announced on Monday.

Speaking at a press conference at the KMC head office, Wahab said the tendering process was complete, and work orders would be issued shortly. KMC plans to spend between Rs68 billion and Rs70 billion on development schemes this financial year, with projects under way in all seven districts.

Among the larger works, the Rs1 billion Chakoor Nala Expressway, funded from KMC’s own resources, is expected to open in 30 to 35 days and ease traffic toward Gulistan-e-Johar. A nine-kilometre dual carriageway linking Gulistan-e-Johar with University Road is due to be completed by January.

Groundbreaking for a flyover on Garden Nishtar Road, costing around Rs1 billion, is planned by November 20, with a 100-day construction target. Tori Bangash Road, a five-kilometre link between Keamari and the West District, should be finished by the end of the year. Streetlights on 41 major roads will be replaced within about two and a half months.

On water supply, the 10-million-gallon-per-day K-III elevated pipeline has been completed to improve supply to Lyari and curb theft. Testing will take place within seven to eight days before its inauguration. Three garbage transfer stations are also expected to begin operating by year-end.

In healthcare, the new block of Abbasi Shaheed Hospital, completed after 52 years, will start outpatient services this week. A public-sector breast reconstruction centre at Sarfaraz Rafiqui Shaheed Hospital is scheduled to open in December.

Wahab urged utility agencies to coordinate their work so that rehabilitated roads are not dug up again, and called for action against encroachments on roads and footpaths.

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CategoriesNews

Steel Makers on Captive Power Must Deposit Additional Sales Tax by the 5th Through Special FBR Challan

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a new procedure for steel manufacturers on captive power to pay and adjust additional sales tax on electricity generated and consumed in-house.

The procedure was notified through Sales Tax General Order No. 31 of 2026, issued on Thursday. It introduces an “Additional Sales Tax Challan” and a computerised payment receipt (CPR) for the affected manufacturers. The order is issued under the Sales Tax Act, 1990, read with S.R.O. 1245(1)/2026 dated July 31, 2026, and covers manufacturers falling under sub-clause (iv) of clause (a) of the S.R.O.

Manufacturers must pay additional sales tax at the prescribed rate on the electricity units consumed for steel production in each tax period. They are required to maintain records of electricity generated and consumed, and to declare the units consumed in their sales tax return.

For every tax period, a registered person must generate a special PSID challan, available exclusively to such manufacturers, and deposit the amount by the 5th day of the following month. No invoice is to be issued or generated for this payment.

The verified deposit must be shown in Row 23c of the STR-7 return, titled “Additional Sales Tax on electricity supplied to Steel Melters and Re-Rollers.” An equal amount is reflected in Row 1a for adjustment against output sales tax. The FBR said nothing may be entered in either row unless the tax has been deposited through the special challan and verified through the CPR.

The Commissioner Inland Revenue concerned will verify the declared units against the taxpayer’s records, in line with the Sales Tax Act and the Thirteenth Schedule. Manufacturers must also declare their production and supplies as required by law.

Chief Commissioners and Commissioners Inland Revenue have been directed to implement the order and monitor payments. Any default, short payment or incorrect declaration of units will be dealt with under the relevant provisions of the Sales Tax Act and its rules.

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CategoriesNews Construction

Pakistan Plans Separate Regulatory and Marketing Bodies for Construction Sector

ISLAMABAD: The government is considering two new institutions for the construction industry, a regulatory authority and a marketing entity, along with a three-year defect liability period for major projects.

The proposals were discussed at an exploratory meeting chaired by Economic Affairs Minister Ahad Cheema on reforms aimed at improving project delivery and addressing industry concerns. Minister of State for Finance Bilal Azhar Kayani, Housing Secretary Muhammad Mahmood (retd) and other senior officials attended.

Participants reviewed the proposed Construction Industry Development Authority (CIDA) Bill. Mr Cheema said it required detailed consideration, including whether one body should handle the sector or two separate entities should be created, one to regulate and the other to promote the industry.

Private sector representatives and the government differed on the project size at which defect liability should apply. The industry sought a minimum threshold of Rs20 billion, while the government pushed for lower amounts.

The Constructors Association of Pakistan (CAP) similarly proposed applying the Dispute Avoidance and Adjudication Board (DAAB) mechanism to government projects worth Rs20 billion and above. After further consultation, Mr Cheema asked for a lower limit.

The meeting also considered placing contractors’ retention money in return-earning accounts, with the principal and interest repaid after the defect liability period ends.

The proposed framework will draw on standards set by the International Federation of Consulting Engineers (FIDIC). The Pakistan Public Procurement Regulatory Authority was directed to begin work on a defect liability period of three years or more for major projects, with the measure to be extended to smaller projects in phases.

Participants agreed to continue talks with stakeholders, including agencies led by Mr Kayani and CAP representatives.

In August, the government had been reported to be considering a wider package for the sector, including a Construction Industry Development Board, a possible Construction Development Bank, revised trade policies and targeted tax reforms.

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CategoriesNews Economy Investment Real Estate Real Estate Investment

Pakistan Pitches Special Economic Zones to Qatari Investors; Retaj Group Weighs Hotel Ventures

DOHA: Pakistan’s commerce minister asked Qatari investors to look at the country’s Special Economic Zones (SEZs) during meetings in Doha, and Qatar’s Retaj Group said it wants to explore hospitality projects in Pakistan, according to an official statement released Tuesday.

Jam Kamal Khan met Qatari and international officials on October 25 and 26 during the World Investment Forum 2026. His meetings included the Secretary-General of the D-8 Organisation for Economic Cooperation, Qatar’s Minister of Municipality, the chairman of the Qatar Chamber of Commerce & Industries, and Retaj Group representatives.

He told the Qatar Chamber chairman that the SEZs, especially the Karachi industrial area, suit export-focused manufacturing. He also said Pakistan can serve as a route to markets such as Africa. The chairman pointed to shifting global supply chains and said Qatar is interested in the proposed regional transit routes.

Retaj Group said it would consider joint ventures with Pakistani partners and bringing its hotel brands to Pakistan and other Islamic countries. The statement gave no details on projects, locations or investment sums.

The D-8 Secretary-General told the minister on October 25 that the group’s Preferential Trade Agreement needs to be put into practice now that Egypt has ratified it. On October 26, the minister and Qatar’s Minister of Municipality discussed agriculture, food security and trade.

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CategoriesNews

Islamabad to Offer Free Plots for 600-Foot Towers, With Govt Seeking 15% of Project Inventory

ISLAMABAD: Interior Minister Mohsin Naqvi has announced plans to auction large plots in Islamabad for high-rise hotels, shopping malls and residential complexes, with the government taking a share of each project’s inventory instead of payment for the land. He announced this at the Saudi-Pak Real Estate Expo in Lahore on Friday.

Bidding will open at 15 percent of a project’s inventory, and investors may offer a higher share. Plots will be available in sizes of one, three and six acres. Buildings must stand at least 600 feet tall and be completed within two years of approval. Naqvi described these as the only two conditions. Approvals will go through a single window at the Ministry of Interior, which he said can process them within three to four weeks.

A five-member committee will oversee the auction, with representatives of the National Accountability Bureau, the Special Investment Facilitation Council, the Federal Investigation Agency and the Capital Development Authority. A judge will head the committee, though it has not been decided whether the judge will be serving or retired.

Naqvi also announced a Manhattan-style city on 1,000 acres behind the Prime Minister’s House. It will have residential and commercial complexes around a central park and a lake, and will operate under a separate set of laws and standard operating procedures.

He also announced a 450-acre safari park, which he described as Asia’s largest. He pointed to the Punjab safari park, whose annual auction value reportedly rose from Rs20 million to Rs680 million within a year of its reconstruction.

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CategoriesNews Construction Property Real Estate Urban Developments & Planning

Construction Growth Reaches 19.2% as Rs10m Subsidised Housing Loans Lift Pakistan’s Property Market

KARACHI: Pakistan’s construction sector has grown sharply over the past year. Builders credit the government’s subsidised housing finance scheme, even as banks remain cautious about lending.

The State Bank of Pakistan reported that construction growth, which stood at negative 3.3 percent in the first quarter of FY25, rose to 17.6 percent in the fourth quarter of that year. It reached 19.2 percent in the first quarter of FY26, and the first half of FY26 recorded 14.6 percent. Public Sector Development Programme spending increased 41.8 percent in the same half, against a 1.1 percent decline a year earlier.

The Prime Minister’s Ghar Ho Tu Apna scheme, launched in September 2025, offers loans of up to Rs10 million at a fixed five percent rate, with the government paying the markup subsidy. Hassan Bakhshi, chairman of the Association of Builders and Developers, said the scheme has provided liquidity and revived purchasing. Some builders have recovered capital tied up in unbooked apartments.

Banks, however, have issued fewer loans than expected. Bakhshi said lenders require complete documentation, while many owners begin construction without proper design or approval from the Sindh Building Control Authority, making their projects ineligible.

The US-Iran war has also changed investment patterns. Bakhshi said money that would have gone to Dubai property is now being invested at home, which pushed prices in areas such as Defence Society up by as much as 60 percent. He added that a correction of up to 20 percent has been recorded in Defence over the past month.

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CategoriesNews Construction Real Estate Investment

Construction Growth Revised Up to 6.30% for FY2025-26 

ISLAMABAD: The National Accounts Committee (NAC) has revised Pakistan’s construction sector growth for FY2025-26 to 6.30 percent, up from the earlier estimate of 5.73 percent. The updated national accounts were approved on October 19, 2026.

The 0.57 percentage point increase is linked mainly to higher public-sector construction spending. The revision comes even as overall fiscal-year economic growth was trimmed to 3.65 percent from 3.70 percent.

Construction activity remained positive in the final quarter. Between April and June 2026, the sector expanded 3.52 percent year-on-year, while the industrial sector contracted 4.70 percent and the wider economy grew 2.00 percent.

The figures point to government spending on public projects as a key support for construction during the year. However, higher sector output does not translate directly into rising plot prices or resale premiums. 

Residential transactions, developed-plot supply, public works, and private building are separate but related markets. Property values still depend on location, project progress, and buyer demand.

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CategoriesUrban Developments & Planning News

Rawalpindi Ring Road Cost Rises to Rs50.4bn as Toll Plazas Remain Unfinished

RAWALPINDI: The cost of the 38.3-kilometre Rawalpindi Ring Road has risen to Rs50.4 billion, its third upward revision, while toll plaza construction remains incomplete ahead of the planned opening in November.

The Provincial Development Working Party (PDWP) approved the revised PC-I at a meeting in Lahore last week. The project was initially estimated at Rs33 billion. In January, the Rawalpindi Development Authority sought Rs51 billion, but the PDWP approved Rs47 billion.

The latest request cited a 61 per cent rise in material prices. The PDWP allowed 38 per cent and directed that the project be completed within Rs50 billion.

A divisional administration official said the additional Rs3 billion reflects changes to toll plaza structures, a 38 per cent increase in material costs over two years, and a revised PC-I for the Thalian interchange. Land acquisition is not part of these figures. A total of 8,992 kanals were acquired for Rs6.7 billion, which would raise the overall cost to about Rs57 billion.

Deputy Project Director Ashfaq Sulheri said the road itself is complete, but toll booths at Baanth and Thalian are still being installed. The Punjab Ring Road Authority needs two more weeks to set up the Intelligent Transportation System and electronic toll collection.

Fencing from Baanth to Thalian and horticulture work along the route are finished. Work on the Thalian interchange will begin after the road opens. He said the Punjab government expects to open it to traffic in the first or second week of November.

The six-lane, controlled-access road has a design speed of 120km/h and a 90-metre right-of-way. It includes five interchanges, 11 overpasses, two river bridges, 12 bridges over nullahs and roads, and a railway bridge near Baanth.

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CategoriesNews Real Estate Urban Developments & Planning

Lahore Master Plan 2050: Four Districts Under One Environmental Roadmap as LDA, EPA Seek Public Input

LAHORE: The Lahore Development Authority and the Punjab Environment Protection Agency held a public hearing on Monday to assess the environmental dimensions of the Lahore Division Master Plan 2050. The session was meant to refine the plan using citizen feedback and expert recommendations.

The hearing was attended by EPA Additional Director General (Operations) Sharjeel Hafeez Wattoo and the LDA’s Chief Metropolitan Planner. The Chief Metropolitan Planner and the consultants briefed participants on why the plan is needed and assured them that pollution-related suggestions would be reviewed.

Punjab EPA Director Fauzia Akram spoke on smog and environmental pollution. Architect Kamil Khan Mumtaz of the Lahore Bachao Tehreek outlined the plan’s stages and said it aims to build a “prosperous Lahore” that serves as a “hub of civilisation”.

Consultancy firms Dar Al-Handasah and Asian Consultant Engineering gave presentations. Dar Al-Handasah representatives said they are preparing the plan with an Environmental Impact Assessment in view. They said it addresses smog, pollution, unplanned industrial expansion and socio-economic challenges.

The plan covers the Lahore Division, with urban amenities reviewed in Lahore, Sheikhupura, Kasur and Nankana. It accounts for population growth, urban sprawl, and housing needs, and prioritises public transport, roads, healthcare, education, agriculture, industry, sewerage, and water infrastructure. It also provides for parks, greenery and cultural spaces.

The plan will encourage both commercial and residential high-rise construction. The plan integrates areas under RUDA, the CBD, the Cantonment, and DHA, and authorities are working with developers and other stakeholders to address pollution.

Environmental experts Aleem Butt and Rafay Alam explained the causes of pollution and possible remedies. Stakeholders, citizens and students attended, and the consultants answered their questions at the end of the session.

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CategoriesNews Property Laws Real Estate Urban Developments & Planning

Pakistan Cuts Mandatory Property Documents to Five for Apna Ghar Housing Loans

ISLAMABAD: The government has reduced and standardised the property documents banks can require from applicants under the Prime Minister’s Apna Ghar Programme to make housing finance easier to obtain.

The Ministry of Housing and Works announced the changes on October 18, following directives from Prime Minister Shehbaz Sharif. The State Bank of Pakistan has since issued formal instructions to banks to implement the revised requirements, Dawn reported.

Applicants must now provide five mandatory documents: a transfer letter, a possession letter, a site plan, a mortgage permission letter, and mortgage registration documents. The framework applies to loans of up to Rs10 million.

The revised requirements cover a wide range of properties, including those in urban development authority schemes, housing societies, private housing schemes, DHA plots, houses and apartments, and cantonment and MEO leasehold properties. Rural revenue properties, government housing schemes and Evacuee Trust properties are also included.

Properties backed by a Punjab government Green Property Certificate, or an equivalent certificate issued by a competent authority in another province, may also qualify for financing. Since these certificates verify title, ownership and possession, holders will not be required to produce separate historical ancestral ownership records.

Banks reportedly asked applicants for extensive property documentation, which complicated and delayed loan applications. The new framework is intended to reduce paperwork, bring consistency to bank requirements and help first-time buyers purchase or construct homes.

The announcement does not cover markup rates, repayment terms, income criteria, down-payment requirements or a list of participating banks. The simplified documentation also does not exempt applicants from banks’ income, affordability and legal-title checks. Prospective borrowers should confirm exact requirements with their bank.

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