The Federal Investigation Agency (FIA) is preparing to convert the historic Karachi Cotton Exchange building into its Karachi headquarters after taking control of the property earlier this year.
The building, located on I.I. Chundrigar Road, was vacated in December 2025 when the FIA and the Evacuee Trust Property Board took possession of it under Supreme Court orders, declaring it a federal trust property. However, the ownership dispute surrounding the building is still awaiting a final decision from the Sindh High Court.
Officials familiar with the matter said the FIA and the Evacuee Trust Property Board have now reached an arrangement under which the agency will pay rent for using the premises.
The shift to the building has already started, with some FIA sections beginning operations there. Sources said the Anti-Corruption Circle has already been moved to the site, while the Corporate Crime Circle is also in the process of relocating.
An official, speaking on condition of anonymity, said the building has roughly 200 to 300 rooms, enough to house all FIA offices operating in Karachi.
The development marks a major change for one of the city’s most prominent commercial landmarks, which had long remained associated with the Karachi Cotton Association before the federal authorities moved to reclaim it.
Source: Dawn