At least 15 people have lost their lives and several others have been injured.
The death toll is feared to rise significantly, as dozens of people are still reported missing and were believed to be inside the building at the time of the incident.
The blaze erupted on Saturday night and continued to rage for nearly 33 hours before it was finally brought under control this morning (Monday).
In addition to the tragic loss of life, initial reports suggest that the inferno has caused financial losses amounting to billions of rupees.
Pakistani celebrities have expressed deep sorrow and condolences over the tragic incident and the loss of lives.
Renowned actor Nauman Ijaz took to his Instagram stories to express sorrow over the tragic fire.
He said that this incident is a reason for grief for the entire nation, and prayed for patience and compensation for those who suffered losses.
Sajal Aly said that she was "heartbroken" by the tragedy and that her prayers were with all those affected.
Cricketer Haris Rauf said on his Instagram stories that the "loss of precious lives is devastating" and prayed for the strength and patience for the victims.
The speedster took to X, formerly Twitter, to express his dismay over the "failure" to save lives. "Inadequate fire safety, delayed rescue, and a system that failed its people," Rauf lamented.
Actor, Ali Abbas was also "deeply saddened" by the tragedy. He said that the incident exposed the state of affairs in the city and showed that it was high time that people of Karachi chose their representatives "wisely".
Actor Zahid Ahmed's wife, Amna Zahid Ahmed also lamented the tragedy and losses caused it. "The neglect this city faces is unimaginable," she said.