Public Notice: Termination of Joint Venture and Ownership Claim for Plot on M.A. Jinnah Road, Karachi

This public notice informs that Mr. Qasim Abbas S/O Muhammad Abbas Kumaili entered into an Agreement of Single Time Joint Venture dated 20.02.2025 with M/S Concrete Developers through its partner Mr. Jawad Salim S/O Salim Mohammed to construct a multistory commercial shopping plaza on the client's plot at M.A. Jinnah Road, Karachi. The estimated time for completion by the second party was 18 months.

The notice states the second party failed to obtain NOCs and necessary approvals, announce the project, commence construction or booking of proposed units, pay the agreed amount, and maintain contact with the client despite more than 18 months having passed. The client alleges these failures violated the Agreement, causing financial loss and mental distress. The client exercised powers under clause 3.1 to terminate the Agreement and claims ownership of the entire project. The second party is declared to have no right, interest, or claim in the plot or the Agreement, and any bookings made by the second party will not be binding on the client.