What’s the hottest real estate market in Pakistan? It’s hard to argue that Karachi has been the biggest beneficiary of the recent influx of foreign investment, and DHA City Karachi has been at the forefront of this development. Since its construction began back in 1994, DHA City Karachi has earned an international reputation as a major hub for luxury living and real estate investment opportunities; with its prime location on the Arabian Sea, proximity to Karachi International Airport and access to many different modes of transportation, DHA City Karachi provides easy access to all major economic hubs in Pakistan and beyond.
The History of DHA City Karachi
DHA Karachi is a joint venture project between the Defence Housing Authority (DHA) and the Government of Sindh. It was launched in 2003, with land allocated for residential and commercial purposes. The aim of the project is to provide affordable housing for low-income earners and to provide residents with modern facilities. DHA City has been designed as an integrated community with high-quality civic amenities such as parks, schools, shopping malls, hospitals, recreational areas etc.
The Development Process
Construction of the first phase, which will cover about 7.5 million square feet and include six residential towers with 2,500 apartments in total and all the requisite amenities, is expected to take 18 months. The project will be developed by a consortium of investors led by Dubai-based Emaar Properties PJSC, with Abu Dhabi-based Aldar Properties PJMCO LLC and Saudi Arabia’s Al Tayyar Al Jawwal Group as minority partners.
The second phase will include a commercial district spanning 12 million square feet, with office towers and shopping malls planned for a third phase. Total investment costs may amount to $2 billion at completion, while annual revenue is expected to reach $1 billion after three years of operation.
DHA City Karachi is a real estate development that has been constructed with a number of amenities in mind. For example, it will have an international airport, a golf course, and other modern conveniences. It will also be home to 12 different neighbourhoods with parks and schools as well as commercial hubs for major corporations to set up shop. This mixed-use project will be home to over 400,000 people once it is completed.
DHA City Karachi offers a wide range of amenities that make it an attractive option for investors. The property includes three schools, four mosques, and a five-star hotel with restaurants and shops. It also has medical facilities such as a hospital, dental clinic, and eye care centre. These amenities make the property attractive for families to live in or for people looking to invest in real estate.
DHA City is a new, state-of-the-art residential city which is being developed by the Defense Housing Authority (DHA). It will cover an area of 7.5 million sq. ft and will be located in North Nazimabad Town in Karachi, Pakistan. The development project is expected to cost PKR 25 billion and when completed it will have about 5000 homes for sale as well as residential plots for sale starting from 800 sq. yards to 2500 sq. yards with each measuring 2200 sq. ft or 1360 sq. ft respectively.
DHA City Karachi is a haven for investors because the prices are much cheaper than similar projects in other cities. The typical two-bedroom apartment in Islamabad costs about $270,000, whereas the same property in DHA City Karachi will cost about $110,000. This is because of the lower demand for affordable housing in Pakistan as well as the fact that there are still vacant plots of land available. One thing to note is that although there’s a significant price difference between Islamabad and Karachi, you have to pay more upfront. In Islamabad, you can buy an apartment with 50% down while you need 100% down in order to purchase a property in Karachi.
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