LAHORE: A memorandum of understanding was signed between Abu Dhabi Group and Malik Riaz (the real estate tycoon of Pakistan), for a real estate project in Pakistan, which could not get to live for any reasons. However, Malik Riaz has recently signed an agreement with a U.S investor to build the world’s tallest tower in Karachi.
Bahria Town is known for its state of the art real estate developments. People always expect something new and contemporary from Bahria Town. Houses in Bahria Town Lahore, Rawalpindi and Karachi are indeed new benchmarks for the real estate industry of Pakistan.
Zameen the best property portal of Pakistan, reports that Bahria Town continuing the pace of its innovative developments, has entered into a contract with a U.S real estate mogul, Thomas Kramer to build the world’s tallest building as part of a real estate development project in Karachi.
During the research on the agreement between Bahria Town and the U.S investor, the experts at Zameen also came to know that Thomas Kramer is known for Miami’s South Beach revitalization. The mogul will provide funding tranche for Bahria Town’s Buddo and Bundal Islands and this grand development is expected to accommodate housing for about 1 million people.
As the leading Pakistan real estate portal, Zameen further learnt that the project will be completed in five to ten years and it will include amenities such as the largest shopping mall, expansive medical facilities and a media city. The commencement of handing over the housing units is expected in 2016.
Malik Riaz, the CEO of Bahria Town, mentioned that the construction sector has played a vital role in transforming countries like Germany, Turkey, Japan, Malaysia, and USA into developed nations and he further extrapolated that included in his missions is making Pakistan a developed nation.
Whether we talk about plots in Bahria Town Lahore or its other developments in Karachi and Rawalpindi, the projects undertaken by Bahria Town have proved fruitful for residents and investors.
Even though the memorandum of understanding between Sheikh Nahayan and Bahria for the Karachi project was scrapped, but Malik Riaz has once again proved his insatiable greed for the real estate developments in Pakistan, by entering into a grand agreement with Thomas Fraser.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription