daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old June 7th, 2006, 09:33 AM   #1
pakboy
London is London
 
pakboy's Avatar
 
Join Date: Apr 2004
Posts: 6,023
Likes (Received): 2030

First Emaar now Nakheel (Limitless) enters pakistan with huge investment

Limitless all set to build New Karachi

BY MUZAFFAR RIZVI

DUBAI — Dubai World has revealed that its integrated international real estate developer company — Limitless — will spearhead the multi-billion dollar Karachi Waterfront development project comprising residential, commercial, recreational and entertainment facilities.

Sources told Khaleej Times yesterday that the mega project will develop 25,000 hectare of prime waterfront property in southern port city of Karachi.

"Phase-1 of the project in commercial hub of Pakistan will involve an investment of $20 billion over the next ten years. It will develop more than 2,000 hectare of prime waterfront property in the city," the sources said adding that subsequent phases of the project are expected to involve much larger investments.

They further said that several other projects are also in the pipeline in Dubai and elsewhere, and will be announced shortly.

The announcement for Karachi Waterfront project was made during the recent visit of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai to Pakistan. The Memorandum of Understanding (MoU) to this effect was signed by Pakistani Minister of State for Privatisation and Investment, Umar Ahmed Ghuman and Dubai World Chairman Sultan bin Sulayem in Islamabad.

Revealing the details of the project, Chairman Dubai World Sultan bin Sulayem said: "We are delighted to lead the development of the Karachi Waterfront project. This is a major project, involving phased development of the 25,000 hectare site in the port city of Pakistan."

"It will be a new Karachi," Bin Sulayem maintained.

"Limitless' focus on creating balanced developments for large urban communities will, we believe, ensure that the development meets the economic and social needs of the government and the people of Pakistan," he added.

The CEO of Limitless, Saeed Ahmed Saeed, said the master plan of the project is being finalised and it could cater the needs of people.

"At present, the exact elements of the master plan are being finalised considering the overall needs of the people and the best approach to develop a self-sustaining community," Saeed added.

"The business of creating balanced developments is a challenging one. It is a relatively new science, which requires a great deal of research, flexibility and a multi-disciplinary approach to ensure that the balance sought is not only achievable but sustainable," Saeed observed.

"In the coming months we hope to be able to reveal more details on other projects — but only when we are confident that we have found the best solution to address the needs of each community," Saeed added.

Karachi Waterfront will evolve as Limitless prepares the master plan in line with local and government needs. According to an official, the project will contain a defined and carefully weighted balance of residential, commercial, recreational and entertainment facilities.

"The new city will also be home to Special Economic Zones, creating a hub for trading, manufacturing and services industry. All components of the development will be supported by a world-class infrastructure and amenities," the official said.

The waterfront development project is part of the Government of Pakistan's initiative to attract investment and visitors to Pakistan. It is the first international mega project announced by Limitless since the company was officially launched in April, 2006.

Limitless can lay claim to three specific areas of expertise that provide the company with a competitive advantage internationally — master planning large urban communities, waterfront development and the implementation of large balanced projects. Initial equity capital for Limitless is provided by Dubai World, but the company plans to tap the debt markets and look at strategic investors to finance its early growth and new projects.
__________________
Building a Real Estate Empire
pakboy no está en línea   Reply With Quote

Sponsored Links
Old June 7th, 2006, 09:37 AM   #2
pakboy
London is London
 
pakboy's Avatar
 
Join Date: Apr 2004
Posts: 6,023
Likes (Received): 2030

Pakistan, UAE agree to further expand ties

ISLAMABAD, May 30 (APP):

Pakistan and the United Arab Emirates Tuesday vowed to further strengthen their ties in all aspects especially in economy, trade, defence and security.

The two countries also signed three Memorandums of Understanding (MoUs) for cooperation in development of mega infrastructure projects, bringing in investments totalling US 100 billion dollars, besides granting permission to the Dubai Islamic Bank to operate fifty branches in Pakistan.

The signing of the MoUs was witnessed by Vice President and Prime Minister of United Arab Emirates, Sheikh Mohammad Bin Rashid Al-Maktoum, and Prime Minister Shaukat Aziz here at the Prime Minister House. The two leaders earlier also held an exclusive meeting.

It was followed by a second round, in which their aides joined and discussed wide ranging issues. The first MOU was signed between the Ministry of Ports and Shipping and Emmar Properties(EP), under which EP will participate in joint ventures for the development of mega residential, commercial, leisure and real estate projects, industrial parks, free zones and port terminals.

The second MOU was signed for the development of Karachi Beach Front. The third MOU pertained to investment in mega infrastructure projects, under which investors from UAE will inject around US 100 billion dollars in various projects, including construction of residential building and towns, highways, airports and commercial development.
__________________
Building a Real Estate Empire
pakboy no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 05:33 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu