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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.

CategoriesNews Real Estate

Revised Housing Finance Scheme Struggles to Gain Traction

KARACHI: Commercial banks have reported a muted public response to the government’s recently relaunched subsidised housing finance scheme, with industry experts attributing the slowdown to financing limits that fall short of prevailing property prices in major urban centres.

The government allocated a Rs5 billion subsidy for the current financial year, following which the State Bank of Pakistan (SBP) introduced a housing finance facility offering a maximum loan of Rs3.5 million for the purchase, construction and renovation of residential properties.

However, market participants say the cap is insufficient in cities such as Karachi, Lahore and Islamabad, where even small housing units are priced well above the scheme’s ceiling. As a result, banks have seen limited uptake, weakening the initiative’s aim of promoting home ownership and reviving construction activity.

Experts warn that the challenge is compounded by Pakistan’s growing housing deficit, which has reached 12 million units nationwide, and by rising land and construction costs. According to data from World Population Review, Pakistan’s housing affordability index has declined to 0.4, placing it below regional peers such as Bangladesh and India.

Industry specialists have urged policymakers to revise the scheme and align financing limits with market realities. They also recommend encouraging foreign investment in low-cost and vertical housing, adopting climate-resilient construction models, and improving collaboration between banks and developers. Several stakeholders argue that raising the loan ceiling to Rs 10 million could significantly expand access for middle-income households and overseas Pakistanis, thereby driving employment and economic growth.

Observers point to the success of an earlier SBP housing finance programme launched in 2020, which allowed loans of up to Rs10 million and generated strong demand before being discontinued due to fiscal constraints. The current scheme, relaunched in September 2025 with reduced limits, is now under scrutiny as calls grow for policy adjustments to restore momentum in the housing and construction sector.

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CategoriesInvestment News Real Estate

SECP Enhances REIT Framework to Promote Transparency and Early Listings

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has announced amendments to the Real Estate Investment Trust (REIT) Regulations, 2022, aimed at improving the governance, transparency, and operational efficiency of REIT schemes in Pakistan. The revised regulations focus on streamlining processes, strengthening oversight, and fostering earlier listings of REIT schemes to enhance their development as a capital market asset class.

Key amendments introduced by the SECP include clearer timelines for transferring real estate and shares of special purpose vehicles (SPVs). These changes are designed to promote the early listing of REIT schemes, increasing their visibility in the market and attracting more investment. The regulatory updates also strengthen the roles of REIT Management Companies (RMCs) and trustees, ensuring better governance and reducing regulatory arbitrage across different REIT structures.

In a bid to align with Shariah governance frameworks, the SECP has refined the definition of real estate, distinguishing between passive and active components. Additionally, the regulations now include income and asset test requirements, consistent with international best practices, to ensure that REIT schemes primarily invest in and generate income from real estate assets.

The amendments followed a comprehensive stakeholder consultation process, which included meetings with RMCs, trustees, banks, mutual funds, law firms, and consultants. The SECP emphasised that the revised regulations are expected to boost investor confidence and encourage the growth of REITs as a long-term, stable investment option in Pakistan’s capital markets.

The amended REIT Regulations are now available on the SECP’s official website, marking a significant step toward strengthening Pakistan’s real estate investment framework.

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CategoriesMass Transit News Transport

Orange Line–Green Line Integration Expands Karachi’s BRT Network

KARACHI: The Edhi Orange Line Bus Rapid Transit (BRT) has been officially integrated with the Green Line BRT, significantly improving connectivity for commuters in Karachi, Sindh Senior Minister Sharjeel Inam Memon announced on Tuesday.

Speaking at the integration ceremony, the minister said the merger has expanded the Orange Line from four to 10 stations, enabling passengers to travel seamlessly from Orangi Town to Nagan Chowrangi. Under the new arrangement, Orange Line buses will operate along the Green Line BRT track, providing improved access and convenience for residents of Orangi Town.

The Orange Line BRT project was initiated in 2016 under the Sindh Mass Transit Authority (SMTA) as a four-kilometre route from Orangi Town Office to Matriculation Board Office Chowrangi. Initially scheduled for completion in 2017, the project remained stalled for several years and was finally completed in 2022.

The project’s cost was revised twice, with the final budget reaching Rs5.5 billion, including the purchase, maintenance and operation of 20 buses and extension to Nagan Chowrangi. Operational responsibilities were later handed over to the Sindh Infrastructure Development Company Limited (SIDCL) for three years.

The minister also shared updates on the Green Line BRT extension, a 1.8-kilometre stretch from Numaish Chowrangi to Jama Cloth Market, which is expected to be opened to the public by October 31, 2026, according to assurances by Pakistan Infrastructure Development Company Limited (PIDCL).

Memon noted that daily ridership on the Green Line has increased from 55,000 to 75,000 passengers, with a target of 100,000. He highlighted the introduction of a women-only BRT service, the arrival of electric buses, and announced the launch of a double-decker bus service on a trial basis from Malir to Shahrah-e-Faisal starting Wednesday.

He also outlined plans to expand bus services across Hyderabad, Khairpur, Shikarpur and Tando Allahyar, underscoring the Sindh government’s commitment to improving public transport across the province.

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CategoriesConstruction News

CDA Given 10-Day Deadline as Major Islamabad Projects Reviewed

ISLAMABAD: Interior Minister Mohsin Naqvi on Thursday chaired a high-level meeting at the Capital Development Authority (CDA) Headquarters to review progress on significant development and public welfare projects in the federal capital. During the meeting, the minister directed the CDA to finalise the designs of the proposed international cricket stadium and the Kashmir Chowk underpass within 10 days.

It was decided to construct a state-of-the-art cricket stadium in Islamabad in collaboration with the Pakistan Cricket Board (PCB). The proposed stadium will be developed at the foothills of Margalla Hills near Sector D-12, for which land has already been earmarked. The project aims to enhance sports infrastructure and promote international cricket in the capital.

To improve traffic flow, the meeting also approved the construction of a smart underpass at Kashmir Chowk, with instructions to submit its final design within the stipulated timeframe.

Additionally, the meeting discussed plans for the construction of a five-star hotel and a new convention centre in Islamabad. The minister directed the relevant departments to identify long-vacant commercial plots and submit detailed reports at the next meeting. It was also decided to engage renowned companies for the hospitality projects to ensure international standards.

The meeting further approved the formation of a special team to hire a Solid Waste Management company and reviewed proposals for allocating land for the headquarters of various law enforcement agencies, including the Federal Constabulary, Rangers, and Islamabad Traffic Police.

Minister Naqvi reiterated that anti-encroachment operations would continue, adding that retrieved land would be utilised exclusively for public welfare projects.

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CategoriesEconomy News

Pakistan Launches Comprehensive Economic Reforms as Stability Restored

ISLAMABAD: Prime Minister Shehbaz Sharif officially launched the government’s Economic Governance Reforms on Wednesday, marking a significant step towards long-term economic stability and growth. The reforms come after two years of challenging decisions, during which macroeconomic stability was restored, inflation was reduced to 4.5%, and foreign exchange reserves rose to over $21 billion.

At the launch ceremony, Prime Minister Sharif detailed the economic difficulties inherited in early 2024, including 30% inflation and critically low reserves. He emphasised that the government’s focus on structural reforms, such as withdrawing unsustainable subsidies, tightening fiscal discipline, and implementing privatisation measures, was crucial in navigating the crisis. As a result, the country saw a positive shift in economic indicators, with the current account improving from a $3.3 billion deficit to a $1.9 billion surplus.

The reforms also led to an increase in the tax-to-GDP ratio, from 8% to over 10%, and to the addition of over 1 million new taxpayers. Tax collection grew by 26% in 2025, facilitated by the government’s push for digitisation.

Finance Minister Muhammad Aurangzeb provided further insights, noting that GDP growth reached 3.1% in FY25 and 3.71% in the first quarter of FY26, despite external shocks. He also highlighted the reduction of public debt from 75% to 70% of GDP and early debt repayments that saved the country Rs 3.5 trillion in interest costs.

The government’s 142-reform agenda spans critical sectors, including taxation, energy, privatisation, and digital governance, with the aim of establishing a sustainable, private-sector-driven economy.

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CategoriesConstruction News Urban Developments & Planning

Shaheen Chowk Underpass Opens in Islamabad, Completed in Record 63 Days

ISLAMABAD: The Shaheen Chowk Underpass, located at the busy intersection of Khyaban-e-Iqbal and 9th Avenue, was officially opened for traffic today, marking a significant milestone for Islamabad’s infrastructure. The project, completed by the Capital Development Authority (CDA), was delivered in an impressive 63 days, far ahead of its expected completion time. Dubbed a New Year’s gift to the city, this rapid development is expected to significantly alleviate traffic congestion in the area.

During the opening ceremony, Interior Minister Syed Mohsin Naqvi shared that Prime Minister Shehbaz Sharif would lead the formal inauguration of the underpass. Reflecting on the city’s infrastructure progress, Naqvi expressed pride in the numerous development projects completed in the Islamabad Capital Territory this year and reiterated his confidence that the pace of development would double in the upcoming year.

The event was attended by key figures, including the Minister of State for Interior, Talal Chaudhry, and the CDA Chairman, Muhammad Ali Randhawa.

In addition to the underpass, Naqvi announced plans to construct seven to eight cricket grounds and a grand cricket stadium in Islamabad to enhance the capital’s sports infrastructure.

Minister Naqvi also revealed that the M-Tag system, which is required for vehicles entering Islamabad, has been granted a 15-day extension. The new deadline offers additional time for compliance, postponing enforcement of the system, which was initially set for January 1.

The completion of the Shaheen Chowk Underpass in just 63 days underscores the government’s commitment to swift infrastructure development. It is expected to significantly improve traffic flow in one of Islamabad’s most congested areas.

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CategoriesNews Taxes

Punjab’s Excise Department Raises Property Tax by Up to 50%

RAWALPINDI: The Excise and Taxation Department of Punjab has recently implemented a significant increase in property tax rates, raising them by 25% to 50%. This hike follows a revision of property DC rates across the province.

In addition to the increased property rates, the department has sent out new tax notices for the upcoming financial year. Citizens are now required to pay their taxes by December 22, even though the notices were sent after this deadline, resulting in additional surcharges on their bills.

The department’s move is part of broader changes made earlier this year when tax rates were increased in January, extending the tax net to include smaller properties, such as homes under 5 marlas, as well as widows. Citizens have also received notices for outstanding taxes spanning the past 1 to 3 years.

Under the revised tax structure, Rawalpindi city has been divided into three categories (A, B, and C), and property taxes are now being calculated according to the new rates based on property size. For instance, individuals who previously paid 25,000 PKR in taxes have now received notices for 50,000 PKR.

While the financial year ends on June 30, tax defaulters are typically given a grace period, yet the Excise Department has already sent out notices for the 2025-2026 financial year. Citizens have raised concerns over the fairness of these actions, demanding intervention from the Chief Minister of Punjab and the Provincial Minister of Taxation to address these unjustified penalties and excessive tax rates.

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Rising Land Costs Push Pakistan’s Housing Market Towards Vertical Living
CategoriesNews Real Estate

Rising Land Costs Push Pakistan’s Housing Market Towards Vertical Living

ISLAMABAD: Rising land costs, rapid urbanisation, and changing lifestyle preferences are pushing Pakistan’s housing market towards vertical living, with condominiums, apartments, and compact residential units emerging as the preferred choice for buyers and developers, real estate experts said.

Pakistan is currently facing an estimated housing shortage of 10 to 12 million residential units, a gap that continues to widen each year due to population growth and increasing urban migration. Industry specialists warn that this persistent supply-demand imbalance is reshaping the real estate landscape, particularly in major cities such as Lahore, Karachi, and Islamabad, where land scarcity has driven prices sharply higher.

Speaking to Business Recorder, real estate expert Shahzad Akbar Janjua said accelerating urbanisation, shrinking household sizes, and evolving buyer behaviour are key factors behind the rising demand for apartments, condominiums, and townhouses.

“Urbanisation is accelerating, household sizes are shrinking, and younger families want their own homes earlier than before,” Janjua said, adding that despite economic slowdowns, real estate remains Pakistan’s most trusted long-term investment, offering security and protection against inflation.

Janjua noted that rising land acquisition costs, higher construction material prices, and inflation in labour and development inputs have significantly increased property prices, particularly in urban centres. This trend has made traditional large homes unaffordable for most middle-income families, pushing buyers towards vertical living and compact apartment-style housing.

“The greatest housing shortfall is now in mid-sized, compact units such as apartments, condominiums, and townhouses,” he said. “Without consistent development of these formats, the urban housing deficit will continue to grow.”

Another real estate expert, Ahmed Saljouk, said Pakistan’s property market is experiencing renewed momentum because housing demand has outpaced supply for several years. He explained that affordability, land optimisation, and changing lifestyle needs are driving the shift towards apartment living and community-based condominium complexes.

“Large plots are no longer viable for most buyers, while compact units offer better price accessibility,” Saljouk said. “Vertical developments allow developers to integrate security, utilities, maintenance services, and green spaces more efficiently.”

He added that horizontal urban expansion requires large, contiguous land parcels that are increasingly scarce and expensive near city centres. Such expansion also places heavy pressure on infrastructure, roads, and utilities, making high-rise apartments and condominiums a more practical and sustainable solution.

“Modern buyers prioritise convenience, connectivity, and maintenance-friendly living—qualities that apartments and condominiums deliver far better than traditional sprawl-based housing schemes,” Saljouk said.

Experts believe that improved connectivity, new residential corridors, and the growing availability of affordable apartments, condominiums, and compact housing will continue to drive Pakistan’s real estate investment towards vertical living as a long-term response to rising land prices and the country’s housing shortage.

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CategoriesNews Property Laws

PBC Slams Punjab Property Act, Backs LHC Suspension

ISLAMABAD: The Pakistan Bar Council (PBC) has strongly opposed the Punjab Protection of Ownership of Immovable Property Act, 2025, terming it unconstitutional, unlawful, and detrimental to the country’s judicial system. The council warned the Punjab government against implementing what it described as the “illegal aspirations of land mafias” and demanded the immediate withdrawal of the law.

Presiding over the PBC’s 247th meeting at the Supreme Court Building in Islamabad, Vice Chairman Chaudhry Tahir Nasrullah Warraich said the outgoing cabinet had unanimously rejected the Act. The council also called on the Punjab government to issue an apology to the Lahore High Court (LHC) for what it termed an inappropriate response following judicial intervention.

The PBC maintained that the law conflicts with key legal frameworks, including the Civil Procedure Code, Criminal Procedure Code, Qanoon-i-Shahadat (Evidence Act), and the Illegal Dispossession Act. It expressed concern that the Act empowers deputy commissioner-led committees to decide property disputes, creating a parallel system of jurisprudence that bypasses civil courts and undermines judicial supremacy.

On December 22, LHC Chief Justice Aalia Neelum suspended the operation of the Act and referred the matter to a full bench for adjudication. The move was subsequently endorsed by lawyers’ associations across the province on December 24.

The council praised the LHC for what it called a timely and necessary intervention, warning that the legislation erodes civil rights and allows executive officials to exercise judicial authority. It further cautioned that failure to take corrective measures within days could compel the legal community to launch a nationwide movement in defence of judicial independence and the rule of law.

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CategoriesNews Transport

KP Government Paves the Way for a Modernised Railway Network

PESHAWAR: The Khyber-Pakhtunkhwa (KP) government has announced plans to introduce modern train services across the province, with a major focus on the proposed Kohat-Kharlachi rail link. This decision was made during a high-level meeting chaired by Chief Minister Sohail Afridi at the KP House in Islamabad.

The Kohat-Kharlachi railway project involves the construction of a 192-kilometre rail track at an estimated cost of $642 million. The project is expected to be completed within two years, with the feasibility study already finalised and land acquisition currently underway. The chief minister emphasised that the project is crucial to improving public transportation, boosting trade, and enhancing economic activity in the region.

Additionally, the meeting discussed a proposal to operate a safari train along the 32-kilometre Jamrud-Landi Kotal railway track to promote tourism. The chief minister directed the relevant authorities to devise detailed plans with clear timelines for all railway projects to ensure timely implementation.

The meeting also highlighted the need for improved cooperation between the KP government and Pakistan Railways to ensure the success of these initiatives. Chief Minister Afridi reiterated his full support for Pakistan Railways, stressing the government’s commitment to providing efficient and accessible public transport services throughout the province.

This initiative is part of the provincial government’s broader vision to modernise infrastructure and stimulate economic development through enhanced transportation networks. The KP government is determined to make significant strides in improving the region’s connectivity and boosting commercial activities.

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