View Full Version : Pakistan's $11bn Real Estate project takes off
Sultan April 9th, 2005, 08:57 AM TAK Enterprises have prepared the designs for the new Phase 7, 8& 9 of Bahria Town, Pakistan. Bahria will build highrise residential buildings for the first time. project includes an artificial lake, Bahria mega mall, Bahria twin towers, a huge mosque and an intelligent golf city.
Bahria Town also plans to construct Lake city in Lahore and a highrise tower in Karachi.
Project also contains monorail, etc. The whole project will take 24-30 months to complete. More details on the project can be found in this thread.
Rendering -
http://i2.photobucket.com/albums/y38/Urbanpakistan/pakistan_dev_11bn_2543.jpg
Sultan April 9th, 2005, 09:01 AM A newspaper advert (contains rendering, and other info) -
http://i2.photobucket.com/albums/y38/Urbanpakistan/bahria_ad_11bn.jpg
Sultan April 9th, 2005, 09:02 AM TAK awarded 2 Pakistan deals worth US$11b
By MALCOLM ROSARIO
March 26 2005
MALAYSIA’S TAK Management Consultants Sdn Bhd has been awarded two mammoth property development contracts worth US$11 billion (US$1 = RM3.80) by Pakistan property tycoon Malik Riaz Hussain.
TAK, its strongest resume being the designer of Malaysia’s administrative centre Putrajaya, will design and build Phase 7 (US$6 billion), and Phases 8 and 9 (US$5 billion) of Bahria Town — a 4,860ha township in Rawalpindi, Pakistan.
The project is expected to take between 24 and 30 months to complete, with TAK as its sole designer. The company will, however, have to partner several local construction companies to undertake the project.
“We want more Malaysian companies to come and work with us. Pakistan needs about 700,000 houses a year, but the Government and the private sector can manage to churn out only about 300,000 ... we have a lot of work to do,” Malik, chairman of the Bahria group of companies, said.
He said that the Bahria group has enough cash reserves to pay the contractors on a “progressive payment” basis, thus minimising their risk. Bahria may also be willing to provide a mobilisation fee to the contractors.
Bahria has gained a reputation of being able to build high-quality houses, thus positioning Malik as the premier developer in Pakistan.
In his last property launch, Malik collected US$800 million (US$1 = RM3.80) in sales in the first five hours, and expects the same for its subsequent property projects.
Malik did not provide specific details of the contractual terms with TAK, but TAK managing director Teo Ah Khing said the contract was awarded to the company and that the Bahria group had given it the mandate to source for between 20 and 30 Malaysian construction firms to undertake the job.
“The contract has been signed and time is running. We will pick only companies that are capable of delivering,” Teo said, adding that TAK is already in negotiations with 10 listed construction companies and one privately-held construction firm.
“We want to work with committed companies,” Teo said.
He said the Bahria group is cash-rich and, as such, even the funding mechanism could be worked out.
The proposed Phase seven of Bahria Town covers an area of 880 acres. It will be developed into an integrated residential and golf and country resort.
This low-density housing development — which comprises about 3,000 units of semi-detached houses, 600 units of detached houses and 800 condominium units — is aspired to provide a quality living environment to the residents with quality public amenities and recreational facilities.
Phase eight and nine, on the converse, cover a site of 9,200 acres. The area will be transformed into a modern and sustainable city.
TAK said one of the major features of this town is a boulevard which forms a significant central axis and focal point along the commercial and institutional corridor.
“Our contract also includes building a monorail system. We are negotiating with KL Infrastructure Group Bhd (KLIG), Bombardier Inc and Hitachi Ltd for the job,” Teo said.
The first phase of the proposed monorail system will be 6km long and consist of four two-car trains. It will be built at an estimated cost of US$40 million per kilometre.
Marshal April 9th, 2005, 09:58 AM $11 B??
Are u sure? THat's like around the total reserves of Pakistan!
Sultan April 9th, 2005, 11:47 AM $11 B??
Are u sure? THat's like around the total reserves of Pakistan!
Yes! Private sector in Pakistan has lots of cash. ;)
Read the following link, it has cut outs of Malaysian papers.
http://www.pakrealestateonline.com/ads/public/img-1112970661.jpg
Urban Dave April 9th, 2005, 12:13 PM It remind me to those gigant developments in some zones of China!
Sultan April 9th, 2005, 12:22 PM Property business in Pakistan is booming. Lots of overseas Pakistanis are investing back home, so we're seeing lots of new developments at a large scale.
Pakistan is also going to start construction on the PTC, which is going to be 1,500ft tall ;)
Bahraini Spirit April 9th, 2005, 02:16 PM The project design looks nice, but all the towers are just about the same.
Sultan April 9th, 2005, 09:49 PM The project design looks nice, but all the towers are just about the same.
Thats true. There are lots of towers. But the variety is few. The rendering shown above is just one aspect of the project, so we can expect more cool stuff.
A new tall highrise will come up in Karachi.
RajKhalsa April 10th, 2005, 03:28 PM What does the Developed as Champs-Elysees mean in the rendering?
SKYLINEPIGEON April 10th, 2005, 04:03 PM the world famous boulevard in paris is called the champs elysees so that would probably mean it will be developed like that famous avenue with the famour arc de triomphe at the end???
egnayya April 10th, 2005, 06:53 PM Which part of Pakistan is Bharia located in? Where will they get all the water for the artificial lake?
fahed April 10th, 2005, 09:08 PM From it's name, it's clear that the area is close to water. Bahar means Water in Arabic.
Btw, looks like a cool project and WOW 11 B! It's good that Pakistan won the respect of Pakistani investors overseas and that's what the Arab governments had failed to do.
The buildings in the picture doesn't show many details, therefore I assume they would look better.
Sultan April 10th, 2005, 10:04 PM Fahed,
Bahria is a Pakistani local devleoper. Bahria means 'Water' in Arabic, and Urdu. The company that is building the project is called 'Bahria'. It has nothing to do with the location.
Back to the topic. A lot of people are investing back home now, in property, and other aspects of the Pakistani industry, because of the booming economy. Alhamdulillah.
The $11bn sum is a combo of different projects by Bahria.
The rendering that I posted above shows the project that would be built in Rawalpindi City, in the Punjab state of Pakistan.
Then Bahria would also construct a very tall highrise in Karachi. No details given out yet.
More dev, another 'Lake City' project for Lahore. There were reports in the press that it would be a $1bn housing scheme.
An 'Intelligent Golf City' would be built in the Federal Capital - Islamabad. Every house would have its own golf course, and other recreational facilities. This intelligent golf city would come up near the Islamabad - Murree Highway.
These all projects by Bahria would total up to $11bn. Contracts for all these projects have been signed. Construction work would begin soon, and the projects are due for completion in 24 - 30 months times. Mind you, these are projects by Bahria Group alone. There is lots of other developments in Pakistan, like the 1,500ft tall PTC !
:D
Sultan April 10th, 2005, 10:26 PM What does the Developed as Champs-Elysees mean in the rendering?
Raj,
It probably means that the street would be developed on the same pattern as Champs-Elysees. :)
Dubai-Lover April 10th, 2005, 11:17 PM looks good :)
i would assume the towers will look different as this is just some kind of a masterplan render
when dubai's projects have been launched all the towers looked the same in the model as well
not sure though, but it doesn't mean they definitely will be identical
Sultan April 11th, 2005, 01:42 AM DL,
I guess your right. The company had to present the project, so they came up with a "not so detailed" render, as seen above.
I check Bahria's website on a regular basis, hoping to see a new and much more detailed render. As soon as they put one up, I hope they do, I'll put it on here.
I seriously hope that the buildings look different than planned. But those two twin towers in the heart of the project, will stay as is, I guess.
Dubai-Lover April 11th, 2005, 02:02 AM yes, one of the first renders ever
this area behind the towers, will there be villas/houses all over the place
looks like this project has a capacity of 10k people
Sultan April 11th, 2005, 02:16 AM DL,
This project of Bahria Town in Rawalpindi comprises of commercial, residential, parks, mosques, club city, and much more.
The project also has a monorail system. The monorail will cost $40m per kilometer.
The area behind the the main boulevard is all residential, and its massive. :eek:
Sultan April 11th, 2005, 02:45 AM Newspaper article on the project, taken off Business Times, it has some details into the project -
http://i2.photobucket.com/albums/y38/Urbanpakistan/bahria_ad_11bn.jpg
Sultan April 11th, 2005, 03:11 AM Another article from the papers -
http://i2.photobucket.com/albums/y38/Urbanpakistan/bahria_ad_11bn_ad2.jpg
Sultan April 11th, 2005, 07:29 AM Contract signed, construction to being soon -
http://www.theedgedaily.com/cms/storage/images/com.tms.cms.image.Image_d4e96e97-cb73c03a-1b11b790-fc514877/1/Pakistan%20job_inside.jpg
Its_Waqas April 11th, 2005, 10:10 AM Btw the mosque in this project is a floating mosque like in Malaysia.
Malik Riaz is the CEO of Bahria Developers, when the sales of phase 5 & 6 started, he collected over 800m USD in the first five hours.
After this project has been completed and sold he will surely have alot more money. He has plans for Mega developments in Lahore Bahria Town, Bahria Town in Karachi, Sialkot & Gujranwala ,malls in Lahore and highrises in Blue Area Islamabad and LRR in Lahore..
Sultan April 11th, 2005, 10:40 AM Waqas,
Where exactly is the 'Lake City' project being developed in Lahore ? It sounds like a huge project as well.
Nightsky April 11th, 2005, 04:40 PM What about the proposed 450m PortTower in Karachi?
Is it u/c yet?
Anniyan April 11th, 2005, 05:27 PM nice to see Pakisthan developing..despite internal poilitics ,no democarcy and poverty...
Sultan April 11th, 2005, 07:35 PM nice to see Pakisthan developing..despite internal poilitics ,no democarcy and poverty...
Poverty has dropped by 10% last year. Democracy has been restored, we have an elected Prime Minister, Local Body elections are coming up, and in 2007 the general elections. The media is free in Pakistan, we have a media revolution in the country, so many channels, and much more. Pakistan was voted as the most media free nation in South Asia by BBC.
But, true democracy will only be restored after 2007 general elections, and we're heading towards it. :)
Sultan April 11th, 2005, 07:37 PM What about the proposed 450m PortTower in Karachi?
Is it u/c yet?
Nightsky,
According to the latest reports by the Press, the Port Tower contract is in final stages. The agreements are being signed. Plus, from people that live in Karachi, I've heard that they are clearing up the site for the Port Tower.
Rendering -
http://www.urbanpakistan.com/images/ptc_new.jpg
Another larger rendering of the PTC -
http://www.urbanpakistan.com/images/PTC.jpg
Anniyan April 11th, 2005, 08:00 PM awesome design..
pakboy April 11th, 2005, 08:16 PM Bahria town is on a high, they have many developments coming.
Bahria Lake City built near the wagah border in lahore, will be made on the lines of venice.
Bahria Margalla City margalla is the name of some hills in islamabad and they will be making a city on the hill, it would most probly be something like monte carlo.
Bahria Mega Mall the largest shopping mall in pakistan, im not sure but some say largest in asia. it would be made on 500 kanals (1 kanal= 500 sq. yards) mall located in lahore.
they also have a high rise building planned for karachi and towns in karachi, sialkot, gurjrawala and new murree. they have many other proposed projects but malik riaz is tight liped about them.
Sultan April 11th, 2005, 08:18 PM Pakboy,
Can you please try and find more information on the Karachi highrise ? As it is part of the $11bn development plan by Bahria Group.
pakboy April 11th, 2005, 08:24 PM From it's name, it's clear that the area is close to water. Bahar means Water in Arabic.
.
no. bahar means water in arabic yes, but its used by the pakistan navy.
bahria town was built long time ago by the pakistan navy to give homes to the people in the navy and the navy use the name bahria, but its CEO, malik riaz brought all 100% shares and made the town public for everyone and has expanded it and is now making many huge projects.
ALSO THERE HAS BEEN ANOTHER BIG PROJECT LAUCHES IN LAHORE.
AS EVERYONE KNOWS CHIENSE PRESIDANT IS IN PAKISTAN THESE DAYS, AND HE HAS LAUCHED SUKH CHAYN GARDENS, A HOUSING PROJECT IN LAHORE, IT IS CHINAS BIGGEST INVETSMENT IN PAKISTAN.
Hierophant April 12th, 2005, 02:27 AM Very Impressive, That is a huge project...
huit April 12th, 2005, 11:31 AM Poverty has dropped by 10% last year.
*cough* *cough*
Sultan April 12th, 2005, 02:59 PM *cough* *cough*
Han jee, dasso, ki gul hai ?
huit April 12th, 2005, 08:06 PM ^ c'mon Sultan, that was one exaggerated figure! don't you think so?
lets not discuss it any further, don't want to de-rail a thread on Pakistan posted in this forum after quite a few months.
Marshal April 14th, 2005, 02:51 AM Yea I agree huit!
Unless they change the definition of poverty in the 1st place!! ;)
FK April 14th, 2005, 03:32 AM Yeah lets not talk about that !
Madhusudhan April 14th, 2005, 02:00 PM How many of you from Pakistan knew about Bahria group, prior to this mega announcement? He's said to the largest developer in your country, but No International business newspaper has covered him before! Honestly, yahoo has a good average of local asian business, but even then, I haven't read anything about him. I do suspect as several pakistani columnists have pointed out: That, this guy is enjoying the largesse given to him by his ex-masters, i.e the Pakistani military. Is he trustable in your opinion? I am suspecting, because how can anyone raise 800 million dollars from individual investors in a spate of few hours, for projects yet to be built?
pakboy April 14th, 2005, 06:10 PM this guy is damm trustable, i know all the histroy of bahria town. and yes he has been covered in international newspapers, he has come in newspapers in the gulf. and recently hes been in all papers in malaysia, you can see in the first post on second page and see this http://www.pakrealestateonline.com/ads/public/img-1112970661.jpg there are shots of the newspapers.
and he didnt raise 800 million dollars who ever said that, he got 500 million dollars in just 5 hours and if you were there outside there office you would have belived it. it happens always with him, when ever a project goes on sale, people flood to his office.
i saw it on the news and there was a stampede of people outside outside the bahria office when the plots went on sale.
he has no connection with the pakistan mililtary, infact hes had alot of problems with them from land mafias.
james2390 April 15th, 2005, 06:26 AM Looks nice.:cool:
zees April 15th, 2005, 08:57 AM I was watching the documentary of this project
they say ''Bahria is the largest housing scheme in Asia''
Marshal April 16th, 2005, 12:25 AM How could that be??
Can't there be something much bigger in 1B+ China or India??
Raza April 16th, 2005, 12:54 AM i think thats just marketing promotion thing, in china there are many developments like this.
Sultan April 16th, 2005, 06:40 AM Map of the Project -
http://i2.photobucket.com/albums/y38/Urbanpakistan/bahria_ad_11bn_ad4.jpg
pakboy April 16th, 2005, 03:51 PM http://bahriatown.com.pk/images/map_1.jpg
pharse 8
http://bahriatown.com.pk/images/map_2.jpg
http://bahriatown.com.pk/images/map_3.jpg
http://bahriatown.com.pk/images/map_4.jpg
pakboy April 16th, 2005, 04:02 PM http://bahriatown.com.pk/main/images/Image1_01.jpg
http://bahriatown.com.pk/main/images/Image1_02.jpg
http://bahriatown.com.pk/main/images/Image1_03.jpg
http://bahriatown.com.pk/main/images/Image1_04.jpg
http://bahriatown.com.pk/main/images/Image1_05.jpg
http://bahriatown.com.pk/main/images/Image1_07.jpg
http://bahriatown.com.pk/main/images/Untitled-1_01.jpg
http://bahriatown.com.pk/main/images/Untitled-1_02.jpg
http://bahriatown.com.pk/main/images/Untitled-1_04.jpg
Its_Waqas April 16th, 2005, 07:22 PM how can anyone raise 800 million dollars from individual investors in a spate of few hours, for projects yet to be built?
Bahria Town Already has 6 Phases in Rawalpindi/Islamabad spread over 110,000 Kanals (14000 hectres, correct me if im wrong). And 3 sectors in Lahore. This $11bn project is an extension project. Tens of thousands of people are already living in Bahria Town.
Sultan April 19th, 2005, 08:23 PM The reason why I'm posting Bombardier's monorail pictures is, because Bahria is currently negotiating with three different companies for the monorail system, and Bombardier is one of them.
The three companies are -
1) KL Infrastructure Group Bhd
2) Bombardier Inc
3) Hitachi Ltd
* The monorail will cost $40m per km to build. 'm' = million.
Monorail -
http://www.railway-technology.com/contractor_images/selectron/VegasMonorail_BR_2.jpg
http://www.bombardier.com/en/1_0/ml/4123/2_TTS-Monorail-Las-Vegas_Ext04-EN.jpg
Sultan May 21st, 2005, 02:39 AM Newspaper cut out -
http://i2.photobucket.com/albums/y38/Urbanpakistan/bahria_ad_11bn_ad7.jpg
satit28 May 21st, 2005, 12:31 PM whoah...........
holy moly..................
gurukool May 21st, 2005, 01:18 PM I C THE PROOF... the jury is in your favour
The subcontinent is a competition for the west
gurukool May 21st, 2005, 01:21 PM Sincerely speaking I never knew there is so much infrastructure spending in my own neighbourhood,
Not only China is running, Pakistan is leaping as well...
--------------------------------------------------------------------------------
Hope the three can partner an international rail-route project connecting Canton and Lahore through Delhi
Admiror May 21st, 2005, 02:03 PM when will the projects do on sale then, especially in Lahore?
pakboy May 21st, 2005, 08:38 PM ^^^^^^^^^^^
???????????????
Sultan May 21st, 2005, 08:51 PM Pakboy,
I think Admiror meant, 'When will the sale of the project begin ?'.
Admiror May 21st, 2005, 09:17 PM sorry , i meant , when will the projects GO on sale .
U got it Sultan. :)
Sultan May 21st, 2005, 10:47 PM They've already started the sale process. They're running newspaper ADs, documentaries, and much more. They advertise on major Pakistani satellite networks, and attract Expatriate Pakistanis, and local Pakistanis as well.
When Bahria Group's last project went on sale, they collected $800m in five hours! :D
Admiror May 22nd, 2005, 02:45 AM hmmm i would probably be interested in the Lake City Lahore project.
I hope they can meet the confidence the public has shown in them.
Sultan May 22nd, 2005, 06:11 AM Bahria Group never compromises on quality. The Lake City project is going to come up near Raiwind Rd, the cost of the project is at $1bn.
pakboy May 22nd, 2005, 01:55 PM there are 2 lake citys, one on raiwind road, made by joint ventures between top pakistan business groups costing 1 billion dollars and theres one on gt road by bahria costing way over a billion dollars.
Admiror May 22nd, 2005, 04:36 PM good. Thanks for the info guys. Keep us updated about these projects.
Lahore is expanding very fast.Look out Karachiets ;)
pakboy May 22nd, 2005, 06:06 PM the map of phrase 9 has now changed.
Sultan May 23rd, 2005, 07:22 AM the map of phrase 9 has now changed.
Changed ? Why ? Do you have the new map ?
Techno-Architect June 4th, 2005, 11:40 PM are there any renderings of the mosque being built on the lake??
pakboy June 5th, 2005, 12:19 AM no not yet, but it will be a floathing one probly the same as in putrajaya.
Rapid June 6th, 2005, 10:57 PM Im not sure if this was already mentioned in this thread or not, but those buildings and homes must be top quality to costs 11 billion!
Sultan June 7th, 2005, 04:40 AM Hmm...
Not all of the $11bn is going into this one project, but a major chunk definately is. I know for sure that $1bn is going towards the 'Lake City' housing development near Raiwind Rd in Lahore, a few millions towards a 60 storey highrise in Karachi, and a billion or two towards the Sector 'C' development in Lahore. The rest of the amount will go towards this project.
Sector C development - http://www.skyscrapercity.com/showthread.php?t=214975
This project would surely get $8bn in it atleast! But $8bn means top notch quality ! :D
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