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– Property value and rentals have increased significantly.
Think of Block 2, PECHS and the chances are that Tariq Road will come to mind. However, the truth is that this block is one of Karachi’s oldest and most expensive residential districts.
Past to present… Established in the late 1950s, Block 2 was a quiet, upscale neighbourhood until the 1980s. Sprawling houses were built on large plots with manicured gardens replete with fountains and pergolas. At the time only a few mom and pop shops fulfilled residents’ grocery needs. All this has now changed and although you may still find a few palatial houses there today, most have been demolished to make way for apartment complexes, smaller houses and townhouses, as well as commercial enterprises such as banks, hospitals, salons, schools and supermarkets. Continue reading