After years of legal hurdles, allegations, and uncertainty, one of Karachi’s most ambitious real estate developments — the Arkadians — is finally set to move forward. Situated in the heart of DHA Phase VIII, facing the Golf Club and Defence Creek, the multi-billion-rupee project has been stalled by courtroom battles since 2013.
For over 10 years the case against this real estate development has tackled one hurdle after another. It has now finally received a clean chit from the Sindh High Court, and its owner, businessman and billionaire broker Aqeel Karim Dhedhi (AKD), has declared that construction will now be “in full swing.”
The landmark decision not only paves the way for the Arkadians but also underscores the complexity of Karachi’s real estate landscape, where investors’ trust is often shaken by stalled mega-projects and prolonged litigation. It also points towards some of Karachi’s most persistent problems: shrinking amenities, a complete lack of urban planning, clueless local government, and powerful real estate developers and business tycoons that can tie up land and investments to score points against their rivals. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
