Sindh Real Estate News and Land Insights

Karachi | ReNews Pakistan
Cherat Cement Company Limited has announced its intention to acquire at least a 30 percent stake in Nimir Industrial Chemicals Limited.
Nimir Industrial Chemicals Limited disclosed to the Pakistan Stock Exchange on Thursday that it had received a public announcement of intention from Cherat Cement Company Limited through KTrade Securities Limited to acquire at least 30 percent of its ordinary shares.
The proposed acquisition remains subject to regulatory approvals, finalization of commercial terms, completion of due diligence and execution of the required agreements.
According to the acquisition document, the public announcement of intention may be withdrawn if the required regulatory approvals are not obtained.
Cherat Cement stated that its Chief Executive Officer, Azam Faruque, is the ultimate controlling shareholder of the company. It further disclosed that Cherat Cement currently has no existing shareholding in Nimir Industrial Chemicals and that no shares in NICL are controlled by persons acting in concert with the company.
Nimir Industrial Chemicals has approximately 110.59 million issued ordinary shares, according to the acquisition document.
The company’s major shareholders include Zafar Mahmood, who holds 19.72 percent, followed by Muhammad Yahya Khan with 11.89 percent and Khalid Mumtaz Qazi with 11.53 percent.
If completed, the proposed acquisition would give Cherat Cement a significant stake in Nimir Industrial Chemicals. However, the current announcement represents an intention to acquire the shares and does not constitute confirmation of a completed transaction.
The proposed deal will depend on the completion of regulatory approvals, due diligence, commercial negotiations and the execution of definitive agreements.

Karachi | ReNews Pakistan
Thatta Cement Company Limited has confirmed that it has reached an in-principle understanding on the proposed restructuring of Pakistan Services Limited, although the final terms have yet to be agreed and definitive agreements are still pending.
In a disclosure to the Pakistan Stock Exchange on Thursday, Thatta Cement said the understanding remains subject to the finalization of definitive agreement or agreements. The company added that the relevant details would be communicated to the exchange in due course.
The disclosure comes days after media reports suggested that a proposed out-of-court settlement could resolve a long-running dispute over control of Pakistan Services Limited, the owner and operator of the Pearl Continental hotel chain.
Pakistan Services had stated on September 7 that it was not aware of the reported arrangement and had not received any information from any shareholder regarding the matter.
According to earlier media reports, the proposed settlement could involve the division of five Pearl Continental properties between Thatta Cement and Fauji Foundation. However, Thatta Cement’s latest disclosure does not confirm the division of any specific hotels or establish the final ownership structure.
The dispute is linked to an approximately 56 percent voting stake in Pakistan Services Limited and has been the subject of legal proceedings for more than a year. Thatta Cement acquired around 28 percent of Pakistan Services in October 2025 and subsequently sought fresh elections for the company’s board.
Cases relating to the company’s shareholding and management have also been heard by the Islamabad High Court.
The latest disclosure confirms that an understanding on the restructuring has been reached in principle, but the final ownership arrangement, division of specific properties and other terms remain subject to definitive agreements. These details are expected to become clearer once the agreements are finalized and formally disclosed.

Karachi | ReNews Pakistan
A massive fire broke out at the Karachi Metropolitan Corporation (KMC) headquarters on M.A. Jinnah Road, completely destroying the office of Karachi Mayor Barrister Murtaza Wahab. Fortunately, no loss of life was reported in the incident.
According to rescue and fire brigade officials, the fire initially erupted in the kitchen adjacent to the mayor’s office and quickly spread, engulfing the entire office section. Fire brigade teams rushed to the scene immediately after receiving the alert and launched firefighting operations with two fire tenders.
Firefighters brought the blaze under control through timely action and successfully prevented it from spreading to other sections of the KMC headquarters. Officials said no person present inside the building was reported injured or killed during the incident.
Rescue officials said the mayor’s office sustained extensive damage, with most of the office equipment and belongings reduced to ashes. Sources said furniture, official documents and other office equipment may also have been damaged. However, the final assessment of the financial loss will be determined after a detailed inspection by the relevant authorities.
Fire brigade officials said the immediate cause of the fire has not yet been established. Relevant authorities have launched an investigation to determine what triggered the fire in the kitchen and how it spread so rapidly to the adjoining office area.
Officials said an inspection of the affected section is also under way to assess the extent of structural and material damage and determine the exact cause of the fire.
Karachi has witnessed several fire incidents in recent days. A day earlier, a major fire broke out at a garment factory in the Landhi Processing Zone, destroying factory equipment and materials. Rescue authorities subsequently declared the affected building unsafe.