by furqanKARACHI: Grappling with escalating financial difficulties, the Karachi Development Authority (KDA) has requested permission from the Sindh Local Government Department to develop public land valued at roughly Rs. 90 billion through a Public-Private Partnership (PPP) model.
Official sources confirm that the KDA Director General has formally submitted a proposal and summary to the provincial government, seeking authorization to hand over multiple prime real estate assets to private developers. The earmarked portfolio comprises 28 acres adjacent to the KDA Officers Housing Society on Stadium Road, 15 acres within the KDA Staff Colony in North Karachi, and nearly four acres currently housing a KDA field office in the Federal B Area, along with several other KDA-owned plots throughout the city. Officials estimate the collective open-market value of these targeted properties to be approximately Rs. 90 billion.