Javedan Corporation Limited, doing business as Naya Nazimabad, is a housing project that is being developed illegally around the Manghopir Lake.[2]
In 2020, the heavy rain in Karachi caused some blocks of the housing project to be flooded because of inadequate sewage and water disposal lines, the management was said to have taken measures to avoid such disasters in the future. Residents of some blocks complained of the challenges they faced, including having to temporarily relocate, as the water flooded their homes for over a week.[3]
History
Javedan Cement Limited was originally incorporated in Pakistan as Valika Cement Limited on June 8, 1961 and was originally owned by Valika family until 1972 when it was nationalized by the government of Pakistan.[4] In 1972, it was renamed as Javedan Cement Limited.[4]
The Javedan Cement Limited (JCL) was privatized and sold at very low prices of