KARACHI | Progress News & Updates

[JADI]

Injaz Mena makes USD250 million dollar investment in Pakistan

Injaz Mena Investment Company PSC has joined with UK-based Global Haly Investment Limited to develop a landmark USD250-plus million shopping mall and office complex in Defence, a prime area of Karachi, Pakistan's largest city.


The complex will be situated next to the Creek Golf Club along the Arabian Sea coastline. The project was awarded by the Defence Housing Authority, Karachi, to Global Haly Investment Ltd, which was the highest bidder among seven international consortia that participated in the bidding.

The joint venture project was officially announced this week under the key sponsorship of HH Dr Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan.

Injaz Mena CEO Mr Ahmed Al Dhahry said that 'with a projected IRR well in excess of 35%, the project was in high demand with investors'. He added that commitments from investors exceeding the offered subscription amount for this unique opportunity were received within a week as a result.

The planned complex will provide high quality shopping as well as premium office space on 5.3 acres of land. It will have a total built-up area of about 1.7 million sq ft of which some 600,000 sq ft will be saleable space. The complex will have three basement levels for parking, ground floor, mezzanine and five upper floors, offering approximately 350,000 sq ft of dedicated retail space and the balance of the area will be for offices.

The land has already been acquired by Global Haly Development (Pvt) Limited, a joint venture company that was established in Pakistan to develop the project.

The Board of Directors of Global Haly Development (Pvt) Ltd comprises Mr Mubarak Bin Fahad, who will also serve as Chairman and CEO, Mr Shariq Azhar, Director General of Injaz Mena, Mr Shahid Choudri, President of Global Haly Investment Ltd and Mr Elahi Baksh Baluch.
Development of the complex will be managed by Injaz Mena through an off-shore special purpose subsidiary, Injaz Pakistan Development Company I Ltd.

Project plans and architectural design for the complex are presently at the initiation stage. Construction of the complex is expected to commence around mid 2007, while its completion is scheduled to take approximately three years.
Deutsche Bank will perform the fiduciary functions on behalf of investors as the Custodian and Administrator of Injaz Pakistan Development Company I Ltd.



Mr Shariq Azhar (Director-General of Injaz Mena), Mr Ahmed Al Dhahry (CEO of Injaz Mena), Mr Shahid Choudri (President of Global Haly Investment Ltd), HH Dr Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan, Mr Elahi Baksh Baluch (Global Haly Investment Ltd) and Mr Mubarak Bin Fahad (Chairman and CEO of Global Haly Development (Pvt) Ltd) pictured, from left, to mark the occasion of the signing of a joint venture contract for a US$250 million-plus shopping mall and office complex in Karachi, Pakistan.

http://www.ameinfo.com/110155.html

[nice_dost]

Originally Posted by Red aRRow

LOL yeah you're right. Hmmm what could be the reason?

Hassan Square Flyover looks extremely shoddy to say the least. You get a clear picture when you pass under it, seems like the walls and support pillars(watever they are called) have some sort of seepage problem.

And look at the support pillars of National Stadium flyover, they are probably the best looking ones in Karachi.

[Red aRRow]

Originally Posted by nice_dost

Hassan Square Flyover looks extremely shoddy to say the least. You get a clear picture when you pass under it, seems like the walls and support pillars(watever they are called) have some sort of seepage problem.

And look at the support pillars of National Stadium flyover, they are probably the best looking ones in Karachi.

So basically Mr. MK is covering up the bungling and misleading the people by printing images of just one flyover under the names of different projects. What a moron.

[Sufi Pistol]

Mubarak ho.....Musharraf bhai has just inaugurated the Signal-Free Corridor from SITE to Sharae Faisal.

And has someone watched that Movie of City Govt. featuring this Corridor running on the Local Cable Channels these days.....Impressive 3-d rendering of the whole Corridor I've ever seen for Pakistani projects.

[oogabooga]

Originally Posted by IslamicRenaissance

Mubarak ho.....Musharraf bhai has just inaugurated the Signal-Free Corridor from SITE to Sharae Faisal.

And has someone watched that Movie of City Govt. featuring this Corridor running on the Local Cable Channels these days.....Impressive 3-d rendering of the whole Corridor I've ever seen for Pakistani projects.

Can you please record and upload it?

[adzees]

i heard from one of my friend back in pakistan .. that our prediction about clover leaf on hassan square flyover is right.. And that is tha part of phase II.. That is what they said in the documentary

[adzees]

Karachi-Hyderabad motorway construction soon, NA told



Minister says work on Shadadkot-Khuzdar Road, Khuzdar-Kalat-Quetta Road under way

ISLAMABAD: The National Assembly was informed during the question hour on Wednesday that the National Highway Council has approved construction of the Karachi-Hyderabad six-lane motorway and the work is expected to start shortly.

Minister for Communication Muhammad Shamim Siddiqi, while giving a written reply to a question, stated that work on various parts of Shadad Kot-Khuzdar Road and Khuzdar-Kalat-Quetta Road is also in progress and, on completion, these roads would provide decent National Highway- Indus Highway linkage.

Replying to another question he said the Pakistan Post has undertaken numerous steps to improve its efficiency.

Replying to a question, Parliamentary Secretary for Petroleum and Natural Resources Rao Ajmal informed the House that the government is working on a comprehensive plan to make the country self-reliant in oil and gas through increasing local production and providing attractive incentives for undertaking exploration. He told the House that 100 new oil wells would be drilled during the current financial year.

He said a Basin study on countrywide basis is being conducted to correlate the geological data and to establish new prospective areas for petroleum exploration.

The present demand of the petroleum products in country is 16 million tonnes, the secretary informed and added that 10 million tonnes is being refined by the local refineries while six million tonnes high speed diesel and furnace oil is being imported, he said.

These demands are increasing and will go up to 11 million ton in the next three years, therefore, a state-of-the-art deep conversion new oil refinery of 300,000 barrels per day would be set up near Hub in Balochistan.

The government is also encouraging off-shore drilling and has awarded licenses to various companies, the secretary said and added that no success has been made in exploring oil or gas from the 53 wells drilled during the last five years.

Regarding increase in the price of gas, the secretary oil said 15 to 27 per cent increase has been made in the gas prices since July 2005 mainly due to unprecedented price-hike in the international market.

He said 76 gas supply projects have been completed in the country under the Khushhal Pakistan Programme during the last financial year at a cost of Rs 1.3 billion.

Minister for Environment, Faisal Saleh Hayat, giving a written reply during the question hour, stated that a number of steps have been taken by the federal government to control pollution. One of these steps is the introduction of unleaded petrol and launching of CNG vehicles.

Replying to another question, he said the provincial governments have imposed a complete ban on the use of polythene bags under the directives of the prime minister and are also taking measure to implement this ban.

Parliamentary Secretary for Defence Tanvir Ahmad Syed told the House that the Pakistan International Airlines (PIA) has phased out two aging B-747-200 aircraft, as part of its fleet replacement plan, whole two more 747-200 and six 747-300 aircraft would be phased out by 2010 under this plan. He said these planes would be replaced with new aircraft.

Meanwhile, the NA elected Standing Committee on Ministry of Youth Affairs and on Ministry of Culture.

Minister for Parliamentary Affairs, Dr Sher Afgan Niazi proposed the names of the 17 members each for these Standing Committees to the House when M P Bhandara was chairing the session. The chairman put the motions to the House, which were adopted through a voice vote. The chair indicated during the process that the procedure was not right as members have the right to election.

Chaudhry Aitezaz Ahsan drew the attention of M P Bhandara towards inclusion of his (Bhandara’s) name in one of the Committees.

Members for the Committee on Youth Affairs included Maulana Shuja-ul-Mulk, Bakhtiar Mani, Syeda Farhana Khalid Banoori, Abid Ali Umang, Aijaz Ahmad Chaudhry, Zammurd Khan, Zulifqar Ali Gondal, Beelum Hasnain, Abid Sher Ali, Mehnaz Rafi, Rai Azizullah Khan, Chaudhry Liaquat Abbas Bhatti, Azhar Ahmad Khan Yusufzai, Tahir Bashir Cheema, Aftab Ahmad Khan Khichi, Liaquat Ali Mari, Dr Saira Tariq and Minister for Youth Affairs, Sumaira Malik as ex-officio member.

The committee on Culture comprised Shabbir Ahmad Khan, Maulana Amanullah, Qari Abdul Raees Siddiqi, Malik Liaquat Ali Dogar, Samina Khalid Ghurki, Yasmeen Rahman, Begum Ishrat Ashraf, Bushra Anwar Sipra, Syed Ayaz Ali Shah Sherazi, Abdul Waseem, Shahid Manzoor, Rais Munir Ahmad, Sardar Ashiq Husain Khan Gopang, Syed Javed Ali Shah Jillani, Tanzeela Aamir Cheema, Dr Atiya Inayatullah, M P Bhandara and Dr Syed Ghazi Ghulab Jamal, Minister for Culture as ex-officio member. These committees will now elect their respective chairmen.


http://www.thenews.com.pk/daily_detail.asp?id=42010

[oogabooga]

Originally Posted by adzees

i heard from one of my friend back in pakistan .. that our prediction about clover leaf on hassan square flyover is right.. And that is tha part of phase II.. That is what they said in the documentary

Thats excellent news! Can somebody please record and upload the documentary?!?!?!

[siamu maharaj]

"The present demand of the petroleum products in country is 16 million tonnes, the secretary informed and added that 10 million tonnes is being refined by the local refineries while six million tonnes high speed diesel and furnace oil is being imported, he said.

These demands are increasing and will go up to 11 million ton in the next three years, therefore, a state-of-the-art deep conversion new oil refinery of 300,000 barrels per day would be set up near Hub in Balochistan."

Wow! Hurray for Pakistani journalism! Do they even check what they are writing?

Demand is 16 million tonnes, would go up to 11 million tons. Wow, apparently 11 is greater than 16 in his parallel universe. And secondly, this dimwit doesn't even know that ton is NOT the same is tonne. And even it were, you have to be CONSISTENT in writing.

[swerveut]

Originally Posted by Umais

Swerve: Ok, let's not get carried away here. What you just said makes little sense, and is probably a long discussion. I'd bring up the topic whenever we meet next time. Just to counter your argument with a simililarly fallacious argument: Muslims don't own this land, and came from abroad, so shall they all pack their stuff and leave Pakistan?

Moreover, just coz a Muslim made something doesn't give another Muslim any right to just copy it. Copying without permission = stealing = wrong.

Is this from another thread? But anyways, I think this is more of an intended replication. Ever heard of the eiffel tower in Las Vegas? There is actually one in Austin too. And muslims packing their bags and leaving Pakistan???? whatever the heck are you talking about?

Originally Posted by IslamicRenaissance

WHO TOOK THIS SHOT ???? FROM WHERE ....is he superman

lol! haha I love how DAWN's images always create a TEHELAKA!

Originally Posted by Umais

It says 48-stories here. Can someone confirm which is the correct figure?

And I'd try to not laugh at the Mass Transit ambitions.

Lastly, a fast train between Lahore and Pindi is a great idea, if they can get the time down to less than 2 hours. It'd really kill the Daewoo service, though.

I dont understand why the Bullet train is even necessary when there is a motoway between the two cities already! I think given the state of Pakistan's economy at the moment, a motorway and a bullet train running side by side between these two cities would render at least one of them grossly uneconomical (most probably the bullet train - after the initial hooplah dies down) and it would require heavy subsidies from taxpayers money to maintain. This idea stinks of the magno train project in Karachi. Remember that one

Originally Posted by haawas

dont you people think instead of HAQ PARAST it shold say CDGL or City GOverment because i think Haq leadership has nothing to do with these projects

CRASS POLITICIZATION

Originally Posted by oogabooga

That picture of Mustafa Kamal is SO lame! He looks as if he JUST got some!

On a different note, the Hasan Square flyover finishing looks pretty good from the picture.

Sadly, it is stricken by plague, the potato blight fungus, and a seepage problem from underneath.

Originally Posted by IslamicRenaissance

Mubarak ho.....Musharraf bhai has just inaugurated the Signal-Free Corridor from SITE to Sharae Faisal.

And has someone watched that Movie of City Govt. featuring this Corridor running on the Local Cable Channels these days.....Impressive 3-d rendering of the whole Corridor I've ever seen for Pakistani projects.

WHAT CHANNEL IS IT RUNNING ON??? I ket watching Geo and Aaj for two straight hours today hopign to catch a glimpse of this and didnt catch anything.

[FK]

I think it must be on the local Cable channels, not channels like Aaj or GEO.

Its more like if you have a cable connection, that cable company must have their own channel so thats where it might be playing at.

Secondly, I'm quite disapointed that Mustafa Kamal is praising the Haq Parast leadership for the work done, quite embarassing considering hes working FOR the City not for the Haq Parast leadership.

[moved_on]

Originally Posted by FahadKhan

I think it must be on the local Cable channels, not channels like Aaj or GEO.

Its more like if you have a cable connection, that cable company must have their own channel so thats where it might be playing at.

Secondly, I'm quite disapointed that Mustafa Kamal is praising the Haq Parast leadership for the work done, quite embarassing considering hes working FOR the City not for the Haq Parast leadership.

C'mon the Karachi leadership as far as mayorship is concerned is haqparast. Its like Republicans taking credit. BTW nobody mentioned when Rehbars(mullahji) made the same comments.

They all got elected from haq parast panel.

[Sufi Pistol]

Originally Posted by swerveut

WHAT CHANNEL IS IT RUNNING ON??? I ket watching Geo and Aaj for two straight hours today hopign to catch a glimpse of this and didnt catch anything.

I have the cable connection of Media Plus Communications <pvt> Ltd.(operated from Mashriq centre Hassan Square). They are running that Movie on their own channels not on the satellite channels....thats why I called it A LOCAL CHANNEL. Well I dont think that Media Plus is connected with DHA.

Originally Posted by FahadKhan

I think it must be on the local Cable channels, not channels like Aaj or GEO.

Its more like if you have a cable connection, that cable company must have their own channel so thats where it might be playing at.

Secondly, I'm quite disapointed that Mustafa Kamal is praising the Haq Parast leadership for the work done, quite embarassing considering hes working FOR the City not for the Haq Parast leadership.

I think He is praising his party just because all of the project have been completed by the only contractor-AlMEHRAN-who is Muttahida's subsidiary

Originally Posted by moved_on

C'mon the Karachi leadership as far as mayorship is concerned is haqparast. Its like Republicans taking credit. BTW nobody mentioned when Rehbars(mullahji) made the same comments.

They all got elected from haq parast panel.

Agreed though.

[Red aRRow]

Originally Posted by IslamicRenaissance

I think He is praising his party just because all of the project have been completed by the only contractor-AlMEHRAN-who is Muttahida's subsidiary

Man this Al-Mehran plot is thickening day by day. We need to send our gashtee safeer a.k.a SwerveUT a.k.a Saad for further investigations.

[oogabooga]

Originally posted by Swervuet
WHAT CHANNEL IS IT RUNNING ON??? I ket watching Geo and Aaj for two straight hours today hopign to catch a glimpse of this and didnt catch anything.

Seriously, you have nothing better to do?



@IslamicRenaissance

Dude you have to record and upload the video man!

[oogabooga]

Karachi: Traffic in full flow near the Liaquatabad underpass, a part of the "signal-free corridor", soon after its inaugaration on Friday. - Dawn Photo by Fahim Siddiqi.

KARACHI, Feb 9: President Pervez Musharraf inaugurated on Friday the city’s first `signal-free corridor,’ comprising six major projects – three underpasses and three flyovers – and completed at a cost of over Rs3 billion by the City District Government. The corridor, from Karachi’s industrial area of SITE to the airport, will reduce travel time between the two points by about an hour.

The president, who drove through the `corridor’ praised the performance of City Nazim Syed Mustafa Kamal and the Sindh government for having completed the project in record time of eight months.

The president said that the corridor would be of enormous benefit to the people of Karachi.

“This is a mega project. Cost does not matter. This is a project to facilitate people who live in Karachi, providing hurdle-free and hassle-free travel from SITE, Nazimabad and Liaquatabad to Drigh Road in just eight to 10 minutes,” he added.

“I have lived here and I know that people used to spend 20 minutes at each signal. They had to bear all the hassle of travelling on these routes. This corridor will reduce travel time by at least one hour. This will save petrol as well as save the driver from anguish,” he observed.Syed Mustafa Kamal said that the corridor would cover areas where 60 to 70 per cent of Karachi’s population lived. He said the project would meet the needs of the city for 25 to 50 years. Each underpass has water ducts at the entrance and in the middle to drain out water to Orangi Nullah and Gujjar Nullah. In case of heavy rains and accumulation of water, automatic motors would pump out water fast through drains, he added.

Dawn Online Edition February 10, 2007

[oogabooga]

KARACHI - February 9: The under-construction Sohrab Goth flyover is being carpeted on Friday ahead of its inauguration expected within the next five days. —Dawn

[FK]

That flyover looks like its ending up in a Katchi Abadi !

[khanbhai1]

Originally Posted by FahadKhan

That flyover looks like its ending up in a Katchi Abadi !

good i like that

[oogabooga]

Originally Posted by FahadKhan

That flyover looks like its ending up in a Katchi Abadi !

Who cares as long its of good quality construction! Gradually the Katchi Abadi's will disappear as this area becomes traffic free and attracts better commercial and residential projects. Hopefully the City Government will beautify this area once the project is complete.