History of Real Estate

First housing society in Pakistan

The first housing society in Pakistan was made in around 1950 under the name “Sindhi Muslim
Society”.

DHA started its operation in Karachi which got much appreciation from the customers.

Bahria Town started in 1997. The bahria town and DHA were targeting the elite / upper social
class.

After 9/11 events, Pakistanis got restricted in most of their business operations. So, the Real
Estate business experienced a boom back in the 2000s.
Pakistani business owners who were operating in the US had to hide their Black Money. So,
they invested heavily in real estate.

Current Trends

The current trends include the development of housing societies and colonies on the
countryside roads. The cost of purchasing the land also falls in the Agricultural Land, this is why
the cost of purchasing is very low initially.
Then the companies like City Housing Scheme, DHA, and Bahria Housing, start developing the
area.

The CPEC project has invited many investors and foreign workers and thus, the need for the
residence has emerged. Thus, the real estate industry is going to flourish in the next couple of
years.

Future Trends

The concept of Flats and apartments is going to get much attention with the increasing
population rate of Pakistan. The apartments can be seen in Karachi already, but this concept is
going to get much more common and popular with the passing years.

Hurdles in this Society

Out of 114 societies, there are only 14 societies that are registered. Many real estate owners
don’t get the map registered with the governmental authorities. Consequently, they have to face
a lot of legal consequences.