Karachi Division

Karachi | ReNews Pakistan
The Sindh government, in coordination with the National Assembly Standing Committee on Planning, Development and Special Initiatives, has set June 2027 as the target for completing five major road infrastructure projects across the province. The projects, being implemented under the Public Sector Development Programme (PSDP), carry a revised combined cost of PKR 140.91 billion and are expected to significantly improve regional connectivity, facilitate trade and accelerate economic growth throughout Sindh.
The completion timeline was finalized during a high-level review meeting chaired by Sindh Chief Minister Syed Murad Ali Shah, where progress on federally funded road schemes was assessed in the presence of members of the National Assembly Standing Committee on Planning, Development and Special Initiatives, led by Chairman Syed Abdul Qadir Gilani, along with provincial ministers and senior government officials.
According to officials, the revised cost of the five projects has reached PKR 140.91 billion, with the federal government contributing PKR 96.75 billion under the PSDP, while the Sindh government will finance PKR 44.15 billion.
The projects include the 36-kilometre Sindh Coastal Highway Extension, the 150-kilometre Mehran Highway, the 31.4 kilometre Tando Allahyar–Tando Adam Dual Carriageway, the 135 kilometre Sanghar/Rohri Road (Nawabshah/Ranipur Dualisation) and the 221-kilometre Rohri/Guddu Road. These strategic road corridors are expected to strengthen transportation networks, reduce travel time and improve access between key commercial, industrial and rural areas of the province.
Officials informed the meeting that construction activities are progressing on all five projects. Work on the Sindh Coastal Highway Extension officially commenced after the issuance of the work order in June 2026, while asphalt base construction has already been completed on 44 kilometres of the Mehran Highway.
Construction is also advancing on the Tando Allahyar/Tando Adam Dual Carriageway, although relocation of utility services, shifting of transmission lines and pending approvals from Pakistan Railways continue to pose implementation challenges. Meanwhile, work is ongoing on the Sanghar/Rohri Road, while widening and base construction have been completed on major sections of the Rohri/Guddu Road, where asphalt laying is expected to begin shortly.
Addressing the meeting, Chief Minister Murad Ali Shah emphasized that modern road infrastructure plays a vital role in strengthening connectivity, facilitating commercial activity and promoting long-term economic development across Sindh.
He described the projects as more than conventional road schemes, stating that they would serve as economic corridors linking different regions of the province, encouraging trade, attracting investment and creating new opportunities for businesses and local communities.
The chief minister directed all relevant departments to resolve outstanding issues relating to utility relocation, regulatory clearances and project financing on a priority basis. He also stressed the importance of the timely release of federal PSDP funds to ensure uninterrupted construction and achieve the June 2027 completion target.
Officials expressed confidence that with continued coordination between the federal and provincial governments, the projects would significantly enhance Sindh's transport infrastructure, improve logistics and support sustainable economic growth across the province.

Karachi | ReNews Pakistan
The National Accountability Bureau (NAB) has taken physical control of the Bahria Icon Tower in Karachi after an accountability court upheld the provisional attachment of the landmark property under the Anti Money Laundering Act 2010. Valued at approximately Rs 100 billion, the tower is among Pakistan's most prominent commercial real estate developments and is now under the custody and management of the local administration in accordance with court directives.
The development follows an order issued by Accountability Court No. 1, Rawalpindi, on July 3, 2026, which confirmed NAB's provisional attachment of the property after reviewing the bureau's investigation and supporting evidence. Following the court's decision, NAB formally assumed possession of the tower before transferring its management to the relevant civil authorities as required under the legal process.
According to NAB, the investigation into M/s Galaxy Construction Private Limited and other individuals concluded that both the acquisition of the land and the construction of Bahria Icon Tower were allegedly financed through proceeds generated from criminal activities. The bureau stated that the property had initially been provisionally attached under Section 8 of the Anti Money Laundering Act 2010, after which additional evidence was presented before the accountability court to seek judicial confirmation of the attachment.
The bureau maintains that the court's decision represents a significant step in its broader campaign to identify, restrain and recover assets allegedly connected to money laundering and other financial crimes. NAB officials stated that the bureau remains committed to pursuing cases involving illegally acquired assets through legal and judicial channels.
Investigators further allege that nearly Rs 8 billion in suspected proceeds of crime was invested in the construction of Bahria Icon Tower through M/s Galaxy Construction Private Limited. NAB contends that these financial transactions form a central part of its ongoing money laundering investigation.
The latest action is part of a series of legal proceedings involving property developer Malik Riaz and Bahria Town. In June 2026, an accountability court issued non bailable arrest warrants for Malik Riaz, his son and several other individuals in connection with the Bahria Town Karachi land case. Subsequently, the same court ordered a 15 day freeze on Bahria Town properties across Pakistan as investigations continued.
NAB has also attached Bahria Town Tower located on Karachi's Tariq Road, alleging that the property was held in the name of Muhammad Awais, whom investigators describe as a benami representative acting on behalf of Malik Riaz and Bahria Town.
The bureau had earlier filed a corruption reference against Malik Riaz and other accused in 2020, alleging the illegal allotment of the land on which Bahria Icon Tower was constructed. That reference remains pending before the accountability court, and the matter continues to proceed through the judicial system.
The Bahria Icon Tower case is regarded as one of Pakistan's most significant real estate related anti money laundering investigations due to the scale of the asset involved and its potential implications for financial accountability, property ownership and regulatory enforcement within the country's real estate sector.

Karachi | ReNews Pakistan
Renowned Pakistani economist and Next Capital Director Najam Ali has presented an important analysis of the country’s real estate sector, claiming that the total value of land and properties in DHA Karachi alone has nearly reached the combined market value of all major companies listed on the Pakistan Stock Exchange.
According to him, the situation reflects how a large share of national capital has shifted away from productive economic activity and into non productive assets.
Najam Ali, who studied at Harvard Business School and the University of Michigan, said in his analysis shared on social media platform X that the extraordinary rise in Pakistan’s real estate prices over the past several years was not the result of genuine economic growth or increased national output. Instead, he argued, it largely reflected untaxed capital and black money being invested in property.
He said investors preferred assets where capital could remain protected with limited scrutiny or taxation, turning land and property into one of the biggest shelters for wealth. According to him, this trend has damaged productive sectors, industry, exports and business investment, as capital continued to flow into land trading rather than new industries and job creation.
Najam Ali warned that ordinary citizens, particularly the middle class and salaried households, have borne the heaviest burden of this artificial rise in prices. He said residential plots and houses have become so expensive that hundreds of thousands of Pakistanis have lost the ability to buy a home in their own country, raising fears of a deeper housing crisis.
He also stressed that when large amounts of capital remain locked in non productive assets, the broader economy suffers through weaker economic growth, lower industrial output, fewer employment opportunities and reduced tax collection.
Economic circles say Ali’s analysis may trigger an important debate on investment trends in Pakistan’s real estate sector, the undocumented economy and the structure of the housing market. However, his comparison between the value of DHA Karachi properties and the total market value of the Pakistan Stock Exchange remains a personal economic estimate and has not been officially verified or independently confirmed.