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Real Estate: Abu Dhabi Group to Invest $45 Billion in Pakistan

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Real Estate: Abu Dhabi Group to Invest $45 Billion in Pakistan Express News The Express Tribune Express Entertainment Urdu E-Paper English E-Paper Express Live Sunday, 10 Jun 2018 Today's Paper Advertise The Express Tribune > Business Real estate: Abu Dhabi Group to invest $45 billion in Pakistan Share Tweet Real estate: Abu Dhabi Group to invest $45 billion in Pakistan Malik Riaz of Bahria Group signs contra​ct to bring record foreig​n invest​ment into the countr​y. By Our Correspondent Published: February 16, 2013 0SHARES Share Tweet Email ABU DHABI: Former chairman and present consultant of Bahria Town, Malik Riaz Hussain has signed an agreement with His Highness Sheikh Nahyan bin Mubarak al Nahyan, Chairman Abu Dhabi Group, Union National Bank and United Bank Limited under which $45 billion will be invested in Pakistan. The investment will be made in various construction projects, and is the biggest-ever foreign investment in Pakistan. Out of the total investment value, $10 billion will be invested in Islamabad and Lahore whereas $35 billion will be invested in Sindh. These projects also include the construction of the tallest building of the world (Taller than Burj Khalifa, Dubai) in Karachi. Moreover, the project encompasses sports city, educational and medical city, international city and media city. The project also includes the construction of miniatures of the Seven Wonders of the World. These projects will employ more than 2.5 million people and will boost more than 55 industries like cement, bricks, iron, steel and glass. Moreover these projects are expected to represent all the social classes of society and middle-class and lower-middle class will have equal representation. The agreement will have a revolutionary impact on not only Pakistan’s economy but also the tourism of the country and will be a milestone in reviving the lights of Karachi. Speaking on the occasion, His Highness Sheikh Nahyan bin Mubarak al Nahyan said that Bahria Town not only represents modern Pakistan but is also a credible, respected and authentic name in the real estate sector the world-over. “I am genuinely happy that in this historic project of Pakistan we are working with the visionary Malik Riaz Hussain, this guarantees that not only the project will be delivered beyond our expectations but also before time. We will Inshallah be welcoming first residents in next 3-4 years.” Malik Riaz expressed his pleasure at the signing and said that it was a matter of great pride to be part of this project as such a huge amount of foreign investment has never been made before. A distinguished feature of this project is the utilisation of seawater to produce electricity. The projects will have their own grid station. Moreover, a separate modern water treatment plant will be established to convert seawater into drinking water. These features make this a landmark project in Pakistan, which addresses the current water and electricity issues of the country. The Abu Dhabi Group has previously made huge and successful investments in Pakistan by the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom. Published in The Express Tribune, February 16th, 2013. Read full story Recommended Stories New Lahore mosque will have largest indoor capacity The structure will be housed in Bahria Town. Foreign investment: Turkish company willing to invest in livestock and dairy ‘Local companies should seek share of global halal product market worth $3tr’. Consultancy services: NESPAK wins contract for Urdu University campus The cost of the project is estimated at Rs420 million. You Might Also Like Jennifer Aniston: Should Rachel Have Ended Up With Joey? Russian Journalist Fakes Own Death to Avoid Assassination Railbookers Takes You on World’s Most Scenic Train Journeys Haunted House Adventure Youtubers Seeing Red After Recent Policy Changes Powerball Ticket Sold In Massachusetts Wins Record $758.7 Million Man Charged With Drug Offenses Because $324K Smelt Like Cocaine Netflix’s Altered Carbon Is a Sci-Fi Rollercoaster More in Business Karzai brothers eye bigger political role as electioneering ramps up T his material may not be published, broadcast, rewritten, redistributed or derived from. Unless otherwise stated, all content is copyrighted © 2018 T he Express T ribune. Technical feedback? [email protected].
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