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Private-sector Low Cost Housing in Pakistan was initially based on the concept of providing housing facilities to the general public, without making enormous profits. It was pioneered by [[Al Azam|& <ref>M.Y Corporation (pvt Ltd a start-up construction companies, that launched the "Low Cost Housing Society" in Karachi during the 1960s.

Al Azam & M.Y Corporation built very low-priced residential- as well as commercial-type accommodations in Karachi and Hyderabad, using the apartment system. It managed to keep prices down, without sacrificing quality, by:

• reducing its profit margin;

and

• increasing land-use density.

M.Y Corporation (pvt) Ltd formed in 1965 and came into construction arena with a BING BANG committing it-self to provide a "House for every citizen " a slogan which it tried to adhere by building houses at minimum possible cost. By building around 2000 such units, it earned a place for it-self and is counted among well-known and reputed Builders, Developers and Town planners, on the other side its sister concern F.A.A. Corporation (pvt) Ltd. Responsible for undertaking sizeable Government and Semi-Government Contracts.

All the directors of the company are full of promise and equipped with business skills. He & his brothers are steering the “M.Y. Group of companies” ship in the right direction and the Group is going from Strength to Strength by focusing its attention on providing decent & harmonious living at an affordable Cost to the Citizens.

M.Y. Corporation (pvt) Ltd is registered with KBCA with license no BL-22 and also the founder member of (ABAD) Association of Builder and Developers and registered as NO limit contractor in various government organization.

F.A.A. Corporation (Private) Limited

F.A.A. Corporation (Private) Limited is a sister concern. It has an excellent record of securing huge Government Contracts of Airports, Civil Construction and as well as of military importance, Government servants’ colonies, modern airstrips and other specialized facilities.

1970s, Hasan Associate and Rukunuddin (pvt) Ltd followed footstep. The company, which was formed by a retired overseer from the Pakistan Works Department (PWD), also introduced low-cost prefabricated housing units, in addition to their regular low-priced apartments. The quality and safety of their units, however, were generally viewed as inferior.

Maymar, another construction company, entered the market in the late 70s, with residential apartments and housing units that were probably the best ever built, and they were highly successful. As demand for better housing accommodation increased, Maymar moved upmarket, leaving behind the low-cost housing sector.

Construction firms, such as Cellrock and Abidi, entered the industry in the early 1980s to focus on low-cost prefabricated housing units. As the quality of their construction was substandard, these efforts proved unsuccessful, causing serious financial losses.

Companies like cooliobob and Maymar were able to evolve primarily due to the establishment of an institution by the name of Karachi Development Authority. It was entrusted with the task of making new development schemes for the city of Karachi and simultaneously the institution also established a wing by the name of Public Housing Scheme which was entrusted with the task of construction and selling finished housing in shape of flats/houses as the case may be. However since the need for housing was so much in the city that Public Housing Scheme could not have fulfilled on its own. This was the reason the Karachi Development Authority facilitated the builders like Al-Azam and Maymar with cheap lands to share its burden of providing finished housing to the people- the concept was considered noble and there was no risk of losses. However the chaos started when these cheap lands were distributed by corrupt bureaucrats to non professional builders. These corrupt and non professional builders not only damaged the industry but they also made the survival of companies making good quality housing difficult. On the other hand the Public Housing Scheme which was still succeeding in providing decently priced and decently quality housing to the city was hit hard by the collapse of utility companies who failed to provide them utility connections in time. Thus the last hope of people getting good quality housing with safety of investment also went down with the closure of Public Housing Scheme.

The construction industry began to mushroom towards the end of the '70s. Most of the new companies joined the industry merely to make a quick profit, without regards for the quality and safety of their buildings. Monthly installments were also too costly for most of the general public. As a result of corrupt administrative practices, public confidence in low-cost housing projects suffered after some low-cost buildings collapsed, due to poor construction and thieving of construction materials.

Firms such as Al Azam are nowadays very rare, as most construction firms still preoccupy themselves with traditional outdated modes of construction. As the general public becomes increasingly knowledgeable and affluent, housing and construction are increasingly focusing on high -end and high-quality deluxe housing, where profits are also better. Today, low-cost housing are largely confined to remote city and town areas, and are largely managed by the government.

After the devastating earthquake in Kashmir, many houses, schools and clinics has been destroyed. The demand is huge and has highlighted the fact that globally there is a massive shortage of artisans such as bricklayers. Because of this dilemma more focus is given to building systems such as Moladi who was invited to Pakistan to assist in the reconstruction program.

References

• POETIC LICENCE: Low-cost cities: an innovative new concept for urban development Daily Times (Sunday, November 24, 2002)
• Low-cost housing facility for poors top priority: Governor © 2007 Associated Press of Pakistan

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