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Emaar to build new city in Pakistan



With an estimated cost of $800-900 million for the first stage, the new city to be built by Emaar Al Bilad Pakistan Ltd, a joint venture between Dhabi Group and Emaar, outside Lahore would be bigger than the size of Abu Dhabi.


Shaikh Nahyan bin Mubarak Al Nahyan, chairman of Dhabi Group, has recently signed an MoU on behalf of his business associates including Emaar Al Bilad Pakistani Ltd, to start the spadework on one of the largest housing schemes in Asia.


© 2005 Mena Report (www.menareport.com)

http://www.albawaba.com/en/countries/UAE/184032
 

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Discussion Starter · #2 ·
UAE company part of mega Lahore project
BY HASEEB HAIDER

25 May 2005



ABU DHABI — With an estimated cost of $800-900 million for the first phase, the new city to be constructed by Emaar Al Bilad Pakistan Ltd, a joint venture between Dhabi Group and Emaar, outside Lahore would be bigger than the size of Abu Dhabi.


Last fortnight, Shaikh Nahyan bin Mubarak Al Nahyan, chairman of Dhabi Group, signed an MoU on behalf of his business associates including Emaar Al Bilad Pakistani Ltd, to begin the spadework on one of the largest housing schemes in Asia. The Government of Punjab is sorting-out the legal modalities of the MoU, before signing an agreement to start the construction activities of a modern and beautiful city of its kind which will take into account the growing needs of Lahore, Pakistan's second largest city with a population of 7.5 million.

The new city will be constructed in four phases with a total area of 30,000 acres. It will be a complete and independent city in its own right with its own hospitals, a university, colleges, schools, shopping centres, recreational parks, civic facilities. It would be annexed to Lahore from the ring road on one side near B.R.B Canal and the Lahore-Islamabad Motorway near Shahdara, as city will be located on the northeastern corner of Lahore. Out of total 30,000 acres allocated for the project, a huge lake and recreational project spread on 11,000 acres is integral part of the housing scheme, which will provide recreational facilities to its inhabitants. "While out of remaining 19,000 acres, the first phase whose ground-breaking is not likely to be done by late next year would comprise on 2300 acres of land...It would be developed into a modern, vibrant and bustling city where modern day town-planning concepts would be applied," said Bashir Tahir, CEO of Dhabi Group, in an interview with Khaleej Times.

The builders, Emaar Al Bilad Pakistan Ltd, are likely to construct at least 25 per cent of the housing colony on plots of 250, 500 and 1000 yards, according to international standards, which would be later be sold out to the public.

The Government of Punjab is working on a law which would be passed through the provincial legislator to acquire the lands from their owners besides laying out the rules and regulations governing the matters relating to the new city, of whose name has not yet been decided.

The total cost of acquisitions and construction of the modern day facilities are estimated to be at least $800-900 million. The Government of Punjab will contribute its 20 per cent equity in the shape of land, while the rest of the amount to finance the mega project would be raised by the UAE developers.

http://www.khaleejtimes.com/Display...May/business_May457.xml&section=business&col=
 

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Discussion Starter · #3 ·
well im not pleases with this.

bahria town was gona make this city on 50,000 acres with 6 billion dollars but the goverment stole there idea and handed over the project to emaar, who will build this on 30,000 acres now.
 

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Why would the Punjab govt steal plans from Bahria Group and give them to Emaar ? Thats kinda weird. Do you have any news link ? source from Bahria's website ? Because if this is true, then it is BIG news, and must be all over the papers.

Lake City is a $6bn project. I don't see why the Punjab provincial Govt would do such a thing ? It beats me. :(
 

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i thought emaar had enough work to be done in Dubai. They are coming to Lahore as well.

I personally like the idea. Emaar buildings ARE of international standards.
 

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Discussion Starter · #8 ·
emaar and dhabi group from the UAE have come to pakistan a formed Emaar Al Bilad Pakistan Ltd, a new group in pakistan, they are gona be making quite alot of investments in pakistan.
 

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Discussion Starter · #10 ·
i cant either, they shall be out within the next 2 months.
 

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Discussion Starter · #11 ·
sorry, i read the article wrong, they should be release by end of this year or early next year.
 

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UAE ambassador just announced that UAE's private sector will invest $10bn in the coming days. One of the sectors he mentioned was 'Housing and Real Estate', so we can expect a lot more to come! :D

Pakistan is developing fasttt !
 

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good yar~!
DOES ANY ONE HAVE AN IDEA ABOUT THE COMMERCIAL LAND UNDERTOOK BY EMAAR ON THE FEROZPUR ROAD....?
news, rendering anything....>>
 

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^ No activity there, It will take time as the trained crew and machinery will come from Dubai. I also think that the final design will be different.
 

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First residentail compounds then towers then huge towers then even bigger towers then a whole city ?!?!? Whats next emaar !! I just see it coming, them buying a small country island and turing it into a huge resort !!
 

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Discussion Starter · #20 ·
well if you read the article it says the project will start at the end of 2006, so its a long time yet.

emaar are also going to announce 2 more big projects for lahore by the end of this year, and as they have formed a new company in pakistan, you will see many new projects from them.
 
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