The Federal Investigation Agency (FIA) is preparing to convert Karachi’s historic Cotton Exchange building into its new city headquarters after the relocation of the Karachi Cotton Association (KCA) from the property.
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Located on I.I. Chundrigar Road, the Karachi Cotton Exchange building is one of the city’s prominent heritage structures. In December 2025, the FIA and the Evacuee Trust Property Board (ETPB) took control of the building, saying the move followed Supreme Court directives to recover and vacate the premises as federal trust property.
However, the ownership dispute over the building remains unresolved and is currently under review by the Sindh High Court.
According to sources, the FIA and ETPB have now reached an arrangement allowing the agency to use the building as its Karachi headquarters. Under the agreement, the FIA will pay rent to the ETPB for occupying the premises.
Officials said the transition process is already underway, with several FIA departments beginning to shift operations to the newly acquired site. The Anti-Corruption Circle has reportedly already moved into the building, while the Corporate Crime Circle is currently in the process of relocation.
A government official familiar with the matter said the building contains an estimated 200 to 300 rooms, providing sufficient capacity to house all FIA offices operating across Karachi under one roof.
The move is expected to centralise the agency’s operations in the city, potentially improving coordination among different investigative units.
The Cotton Exchange building has long been associated with Karachi’s commercial history and remains a landmark on the city’s financial corridor. Its proposed use as a government headquarters has sparked discussion over the future of heritage buildings and their functional adaptation.
No official announcement has yet been made regarding the full timeline for relocation or any structural changes planned for the historic property.
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The development comes as authorities continue legal proceedings over ownership while simultaneously advancing plans for the building’s administrative use.