Builders Ready For High-rise Projects

Builders are set to initiate construction of 30-40 high-rise buildings in the port city among the expected over 1,000 housing projects this year under the recently announced construction relief package.

“Karachi, the hub of the country’s economic activities, will soon see the beginning of construction work on some 30-40 high-rise buildings (of 30-40 floors each),” Association of Builders and Developers of Pakistan (ABAD) former chairman Hasan Bakshi said while talking to The Express Tribune on Friday.

Pakistan is expected to initiate more than 1,000 low-cost and high-end housing projects this year as the government will not ask about the source of investment from builders and developers for the projects to be registered with the government by December 2020 under the new scheme.

Prime Minister Imran Khan said the other day about 13 builders had committed to investing Rs1.37 trillion in constructing 100,000 housing units under the Naya Pakistan initiative.

Construction work on the projects was expected to be kick-started over the next three to four months, Khan said.

Such projects are bound to see the construction of at least a grey structure (skeleton) of building by September 2022 under the initiative. “They will be ready to live over the next couple of years as remaining construction work and finishing will require another two to three years,” Bakshi said.