The overall situation of properties in Pakistan is not quite encouraging but due to political turmoil and unrest, Karachi real estate witnessed a rather severe shock. From the last many years, there hardly ever is news good enough to win back people’s trust. But this is just one side of the picture which has been accentuated by the unfortunate events and discouraging news.
The fact of the matter is that constant development and new projects have transformed Karachi over the years and the city has started to receive its share from the business sector, entertainment media and foreign investment. Although this process is too slow to be noticed but its effects have been surfaced over the last decade. One such project is Hawks Bay Town which was proposed way back in 1984 and is still under construction.
Located in Keamari Town Karachi, Hawks Bay Town targets the middle and lower class residing in the city. Karachi Development Authority proposed the project in 1984 but the construction work could begin 24 years later in 2008. In the last 3 years, the authorities deliver few sectors for possession. This one scheme has increased the level of activity in Karachi real estate and many interested parties are to invest their money in buying residential and commercial properties in Hawkes Bay Town.
Many people believe that Hawks Bay Town is primarily meant to accommodate the effectees of Lyari Expressway but the fact is that only three sectors are reserved for them. Now imagine the size of the town whose three sectors are big enough to accommodate over 250,000 people. Yes, it is right, Hawkes Bay is the Asia’s largest housing scheme built near the coastline. The authorities have made concerted efforts in completing and delivering one of the sectors of Hawkes Bay Town, i.e. Hawk's Bay Scheme 42.
To complete the project in time, the Town has been divided in 3 zones. This effort will make the construction, quality assurance, and monitoring work easier for the authorities. With sound sewerage system, direct water supply line from the Hub Dam, over 110 kilometre long road network, family parks, greenbelts and jogging tracks are some of the more raved amenities offered by Hawkes Bay Town. This housing society promises fine living standards at affordable rates.
The middle and lower class of Karachi is taking keen interest in the project and a lot many applications have already been received. The Pakistan property agents and dealers in Karachi are active once again to meet the increasing demands for plots in Hawkes Bay Town. Many property experts believe that such housing schemes targeted at the increasing middle and lower class is now the way to stay in property dealing business as well as keep Pakistan real estate business going.