{{Short description|Pakistani corporate group}} {{infobox company | name = AKD Group | logo = AKD Pakistan logo.png | caption = | type = Corporate group | traded_as = {{karse|AKDHL}} <br/> {{karse|AKDSL}} | foundation = {{start date and age|1947}} | founder = Abdul Kareem Dedhi | location_city = Karachi | location_country = Pakistan | location = | locations = | area_served = | key_people = Aqeel Karim Dhedhi (CEO) | industry = | products = | services = | revenue = | operating_income = | net_income = | aum = | assets = | equity = | owner = | num_employees = | parent = | divisions = | subsid = | homepage = | footnotes = }}
'''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 )<ref>{{Cite web|url=http://www.akdsecurities.net/about-akd.aspx|title=AKD Securities|access-date=2018-12-12|archive-date=2014-03-14|archive-url=https://web.archive.org/web/20140314035638/http://www.akdsecurities.net/about-akd.aspx|url-status=dead}}</ref> It began business in 1973 as a brokerage house before expanding into investment banking and mutual funds.<ref>{{Cite web|url=http://www.publicitas.com.pk/golflife/face_to_face_with_aqeeldaddy.html|title=Golf Life Magazine {{!}} Face to Face with Aqeel Kareem Dedhi|last=Saluhuddin|first=Bisma|date=September–October 2012|website=www.publicitas.com.pk|access-date=2018-12-16}}</ref> 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.<ref>{{Cite web|url=https://www.aaj.tv/2007/05/akd-group-proposal-for-coal-fired-power-plants-rejected/|title=AKD group proposal for coal fired power plants rejected|last=Archive|first=AAJ News|website=Aaj News|language=en-US|access-date=2018-12-16|archive-date=2018-12-16|archive-url=https://web.archive.org/web/20181216120555/https://www.aaj.tv/2007/05/akd-group-proposal-for-coal-fired-power-plants-rejected/|url-status=dead}}</ref> 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.<ref>{{Cite book|title=India's national security : annual review 2012|others=Kumar, Satish|isbn=9781134931163|location=London|pages=64|oclc=945552721|date = 2016-03-23}}</ref>
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.<ref name=":0">{{Cite news|url=https://www.reuters.com/article/us-pakistan-stockmarket-insight-idUSBRE93813Z20130410|title=Insight: Pakistan's booming market no black and white matter|last=Houreld|first=Katharine|date=2013-04-10|work=Reuters|access-date=2018-12-12|language=en}}</ref><ref>{{Cite web|url=https://www.independent.co.uk/news/world/asia/is-black-money-fuelling-the-rise-of-karachis-stocks-8859804.html |archive-url=https://web.archive.org/web/20131004212429/http://www.independent.co.uk/news/world/asia/is-black-money-fuelling-the-rise-of-karachis-stocks-8859804.html |archive-date=2013-10-04 |url-access=limited |url-status=live|title=Is 'black money' fuelling the rise of Karachi's stocks|last=Buncombe|first=Andrew|date=2013-10-04|website=The Independent|language=en|access-date=2018-12-12}}</ref> 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.<ref name=":0" /> 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.<ref>{{Cite web|url=http://www.pakistanherald.com/news/9087/12-january-2016/three-top-akd-group-officials-sent-to-jail-in-eobi-fraud-case|title=Three top AKD group officials sent to jail in EOBI fraud case|date=12 January 2016|website=Pakistan Herald|access-date=2018-12-12|archive-date=2018-12-15|archive-url=https://web.archive.org/web/20181215022116/http://www.pakistanherald.com/news/9087/12-january-2016/three-top-akd-group-officials-sent-to-jail-in-eobi-fraud-case|url-status=dead}}</ref><ref>{{Cite web|url=https://tribune.com.pk/story/1022030/eobi-scam-fia-raids-akd-office-detains-3-directors/|title=EOBI scam: FIA raids AKD office, detains 3 directors|date=2016-01-04|website=The Express Tribune|language=en-US|access-date=2018-12-12}}</ref> In August 2018, AKD was cleared for lack of evidence, with a federal report titled "False implication of AKD Securities in EOBI scandal."<ref name="dawn" /> 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.<ref>{{Cite web|url=https://asia.nikkei.com/Business/Markets/Commodities/Pakistan-s-first-REIT-expected-to-boost-property-market|title=Pakistan's first REIT expected to boost property market|last=Magul Rind|first=Hina|date=14 May 2015|website=Nikkei Asian Review|language=en-GB|access-date=2018-12-16}}</ref> 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.<ref>{{Cite web|url=https://tribune.com.pk/story/327169/after-success-of-one-housing-project-akd-opens-the-door-on-another/|title=After success of one housing project, AKD opens the door on another|last=Hasan|first=Saad|date=2012-01-26|website=The Express Tribune|language=en-US|access-date=2018-12-16}}</ref> 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.<ref>{{Cite web|url=https://www.pakistantoday.com.pk/2018/03/20/all-na-employees-entitled-to-government-accommodation-committee-told/|title=All NA employees entitled to government accommodation, committee told {{!}} Pakistan Today|last=Pakistan Press International|date=20 March 2018|website=www.pakistantoday.com.pk|access-date=2018-12-12}}</ref>
In 2018, ''Dawn'' described it as a "capital market giant,"<ref name=dawn>{{Cite web|url=https://www.dawn.com/news/1427725|title=No evidence found against AKD in EOBI case: FIA|last=Ayub|first=Imran|date=2018-08-18|website=DAWN.COM|language=en|access-date=2018-12-12}}</ref> while that same year the UK's ''Daily Express'' described it as "leading Pakistani securities firm."<ref>{{Cite web|url=https://www.express.co.uk/news/world/991159/pakistan-election-2018-polls-party-majority-imran-khan-who-will-win|title=Pakistan election 2018 polls: Will any party win a majority? Could Imran Khan win?|last=Whitfield|first=Kate|date=2018-07-19|website=Express.co.uk|language=en|access-date=2018-12-12}}</ref> 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.<ref>{{Cite web|url=https://www.khaleejtimes.com/international/pakistan/akd-securities-sweeps-asiamoney-brokers-poll-2015|title=AKD Securities sweeps Asiamoney Brokers Poll 2015|last=Staff|date=23 March 2016|website=Khaleej Times|access-date=2018-12-16}}</ref><ref>{{Cite journal|last=Pakistan Press International|date=2005|title=International Finance Corporation, SECP Sign Accord|journal=Economic Outlook|volume=38|pages=36}}</ref> AKD Group's chairman is Aqeel Karim Dhedhi.<ref>{{cite news|url=https://www.bloomberg.com/news/2013-11-08/akd-s-dhedhi-sees-scope-for-pakistan-stocks-to-rise-50-by-june.html|title=AKD's Dhedhi Sees Scope for Pakistan Stocks to Rise 50% by June|last=Mangi|first=Faseeh|date=Nov 8, 2013|work=Bloomberg|access-date=14 February 2014|author2=Augustine Anthony}}</ref>
== 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.<ref name=":02">{{Cite web |title=Two firms acquire 56% stake in PC hotels chain |url=https://www.thenews.com.pk/print/1329803-takeover-looms-as-two-firms-acquire-56pc-stake-in-pc-hotels-chain |access-date=2025-07-23 |website=www.thenews.com.pk |language=en}}</ref><ref name=":1">{{Cite web |last=Report |first=Profit |date=2025-07-21 |title=AKD-led consortium buys majority stake in Pearl Continental Hotels |url=https://profit.pakistantoday.com.pk/2025/07/21/akd-led-consortium-buys-majority-stake-in-pearl-continental-hotels/ |access-date=2025-07-23 |website=Profit by Pakistan Today |language=en-US}}</ref>
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.<ref name=":02" /><ref name=":1" />
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.<ref name=":02" /><ref name=":1" />
== Listed companies == * AKD Hospitality Limited<ref>{{Cite web|url=https://dps.psx.com.pk/company/AKDHL|title=AKDHL - Stock quote for AKD Hospitality Limited }}</ref> * AKD Securities Limited<ref>{{Cite web|url=https://dps.psx.com.pk/company/AKDSL|title=AKDSL - Stock quote for AKD Securities Limited }}</ref>
== References == {{reflist}}
== External links == * {{Official website|http://www.akdsecurities.net/}}
Category:Conglomerate companies of Pakistan Category:1947 establishments in Pakistan Category:Conglomerate companies established in 1947 Category:Companies based in Karachi