AKD Group

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AKD Group
Company type
Corporate group
PSX: AKDHL
PSX: AKDSL
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Headquarters
Karachi
,
Pakistan
Key people
Aqeel Karim Dhedhi (CEO)
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AKD Group is a group of companies based in Karachi. It was founded in 1947 by Abdul Karim Dhedhi.

History

AKD Group was founded in 1947 by Abdul Karim Dhedhi, father of the current chairman ( who is Mr. Aqeel Kareem Dedhi )[1] It began business in 1973 as a brokerage house before expanding into investment banking and mutual funds.[2] In 2007, the group explored investing in four coal-fired power plants, but their initial offer was declined due to the fact that, though financial capacity was present, they lacked the technical ability to assure success.[3] In 2011, AKD Group was committed to the development of the Gwadar port and naval base, but was permitted to pull out of the arrangement alongside their partners, the Port of Singapore Authority and the National Logistics Cell because 584 acres at the mouth of the port necessary for the development were not surrendered as expected by the Pakistan Navy.[4]

In 2013, Reuters described it as "one of Pakistan's largest domestic conglomerates" and The Independent described it as one of Pakistan's largest corporations.[5][6] In the same year, AKD Group came under scrutiny under allegations of insider trading when it, along with other traders, invested in the Sui Southern Gas Co. owned by the Pakistan government just before the gas company's prices went up.[5] In 2017, three of the company's top officials were arrested during a raid of the company for investigation into possible fraud related to the Employees Old-Age Benefit Institution.[7][8] In August 2018, AKD was cleared for lack of evidence, with a federal report titled "False implication of AKD Securities in EOBI scandal."[9] During the investigation, the three officials remained jailed for months.

In 2015, AKD was among the first in Pakistan to create a real estate investment trust (REIT) management unit in response to easing of governmental regulations on investor ratios to create a trust to support the ongoing construction of the Arkadians.[10] Arkadians is a 43-acre high-rise residential property that the ADK Group had been developing on behalf of the Defense Housing Authority at least since 2012.[11] In March 2018, The National Assembly of Pakistan Standing Committee on Housing and Works praised the leadership of Dhedhi and the supervision of the AKD Group's CEO Ayesha Dhedhi in the quality construction of government accommodations to National Assembly members in the project.[12]

In 2018, Dawn described it as a "capital market giant,"[9] while that same year the UK's Daily Express described it as "leading Pakistani securities firm."[13] The group operates in real estate, brokerage and financial services, infrastructure, natural resources and telecom sectors, including with its brokerage arm, investment house AKD Securities, which in 2002 launched the first online brokerage firm in Pakistan, AKD Trade.[14][15] AKD Group's chairman is Aqeel Karim Dhedhi.[16]

AKD-led consortium buys majority stake

Two firms, Dawood Jan Muhammad and AKD Holding, have collectively acquired approximately 56% of the shares in Pakistan Services Limited (PSL), the company that owns and manages the Pearl Continental Hotels chain.[17][18]

This acquisition, which took place on July 14, 2025, involved both firms purchasing shares at Rs700 per share. Dawood Jan Muhammad acquired 28% (worth over Rs6.37 billion), and AKD Holding acquired 27.9% (worth over Rs6.3 billion), bringing the total combined value of these purchases to over Rs12 billion.[17][18]

This significant 56% stake is considered sufficient to take over the management of PSL's board, leading to speculation about a potential change in control. The acquisition followed the postponement of a PSL board meeting on June 30, and the company's share price had seen a notable increase between July 11 and July 20.[17][18]

Listed companies

  • AKD Hospitality Limited[19]
  • AKD Securities Limited[20]

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."AKD Securities". Archived from the original on 2014-03-14. Retrieved 2018-12-12.
  2. ^ Page Module:Citation/CS1/styles.css has no content.Saluhuddin, Bisma (September–October 2012). "Golf Life Magazine | Face to Face with Aqeel Kareem Dedhi". www.publicitas.com.pk. Retrieved 2018-12-16.
  3. ^ Page Module:Citation/CS1/styles.css has no content.Archive, AAJ News. "AKD group proposal for coal fired power plants rejected". Aaj News. Archived from the original on 2018-12-16. Retrieved 2018-12-16.
  4. ^ Page Module:Citation/CS1/styles.css has no content.India's national security : annual review 2012. Kumar, Satish. London. 2016-03-23. p. 64. ISBN 9781134931163. OCLC 945552721.{{cite book}}: CS1 maint: location missing publisher (link) CS1 maint: others (link)
  5. ^ a b Page Module:Citation/CS1/styles.css has no content.Houreld, Katharine (2013-04-10). "Insight: Pakistan's booming market no black and white matter". Reuters. Retrieved 2018-12-12.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Buncombe, Andrew (2013-10-04). "Is 'black money' fuelling the rise of Karachi's stocks". The Independent. Archived from the original on 2013-10-04. Retrieved 2018-12-12.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Three top AKD group officials sent to jail in EOBI fraud case". Pakistan Herald. 12 January 2016. Archived from the original on 2018-12-15. Retrieved 2018-12-12.
  8. ^ Page Module:Citation/CS1/styles.css has no content."EOBI scam: FIA raids AKD office, detains 3 directors". The Express Tribune. 2016-01-04. Retrieved 2018-12-12.
  9. ^ a b Page Module:Citation/CS1/styles.css has no content.Ayub, Imran (2018-08-18). "No evidence found against AKD in EOBI case: FIA". DAWN.COM. Retrieved 2018-12-12.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Magul Rind, Hina (14 May 2015). "Pakistan's first REIT expected to boost property market". Nikkei Asian Review. Retrieved 2018-12-16.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Hasan, Saad (2012-01-26). "After success of one housing project, AKD opens the door on another". The Express Tribune. Retrieved 2018-12-16.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Pakistan Press International (20 March 2018). "All NA employees entitled to government accommodation, committee told | Pakistan Today". www.pakistantoday.com.pk. Retrieved 2018-12-12.
  13. ^ Page Module:Citation/CS1/styles.css has no content.Whitfield, Kate (2018-07-19). "Pakistan election 2018 polls: Will any party win a majority? Could Imran Khan win?". Express.co.uk. Retrieved 2018-12-12.
  14. ^ Page Module:Citation/CS1/styles.css has no content.Staff (23 March 2016). "AKD Securities sweeps Asiamoney Brokers Poll 2015". Khaleej Times. Retrieved 2018-12-16.
  15. ^ Page Module:Citation/CS1/styles.css has no content.Pakistan Press International (2005). "International Finance Corporation, SECP Sign Accord". Economic Outlook. 38: 36.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Mangi, Faseeh; Augustine Anthony (Nov 8, 2013). "AKD's Dhedhi Sees Scope for Pakistan Stocks to Rise 50% by June". Bloomberg. Retrieved 14 February 2014.
  17. ^ a b c Page Module:Citation/CS1/styles.css has no content."Two firms acquire 56% stake in PC hotels chain". www.thenews.com.pk. Retrieved 2025-07-23.
  18. ^ a b c Page Module:Citation/CS1/styles.css has no content.Report, Profit (2025-07-21). "AKD-led consortium buys majority stake in Pearl Continental Hotels". Profit by Pakistan Today. Retrieved 2025-07-23.
  19. ^ Page Module:Citation/CS1/styles.css has no content."AKDHL - Stock quote for AKD Hospitality Limited".
  20. ^ Page Module:Citation/CS1/styles.css has no content."AKDSL - Stock quote for AKD Securities Limited".
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