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.
Courtesy: The Express Tribune, February 16th, 2013.
