Builders launch project, hope to attract corporate buyers

16-storey Marhaba Trade Centre to take three years to complete.

KARACHI: Even a brief improvement in security conditions is a big relief for builders in Karachi, the financial capital of the country. With the appointment of caretaker chief minister in Sindh, the builders are looking for new project launches and expect better returns on their property.

One such example is Marhaba Trade Centre, a 16-storey building for corporate offices launched recently in Karachi. The project will take three years to complete and is being built at the prime location of Shahra-e-Faisal – one of the most preferred office locations for businesses.

“We have chosen this time because we believe the security condition in Karachi has improved and we would now get better returns on our investment,” said Abdullah Khawar, owner of Zam Zam builders and developers, which is developing the project.

Replying to a question, Khawar said the project would attract companies to buy office space despite security concerns in the city.

Zam Zam is a member of the Association of Builders and Developers (ABAD) .

Uncertain security conditions have forced many builders in Karachi to delay their construction projects for months and even for years in some cases.

Kaleem Abdul Samad, Project Director of Marhaba Trade Centre said Karachi has been under the media spotlight not only due to bad security situation, discouraging many builders from launching projects.

“However, we believe that Karachi with around 20 million population can absorb at least 100 such trade and commercial buildings if only its security conditions improve,” he said.

Published in The Express Tribune, March 30^th, 2013.

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