|UAE developer plans 3 projects in Pakistan|
|Emaar Properties has announced three real-estate developments in the cities of Islamabad and Karachi in Pakistan. The projects, with a total investment of $18 billion, will include a series of master-planned communities that will set new benchmarks in commercial, residential and retail property within Pakistan.
The nation's capital, Islamabad, is home to two Emaar Pakistan projects: the Highlands and Canyon Views.
With 1,500 acres between them, the Islamabad communities offer 9,000 luxury single-family town homes and villas in a range of architectural styles with easy access to amenities including retail centers, community club houses, parks, lakes, schools and mosques.
Karachi will be home to Crescent Bay, a 75-acre development featuring high- and mid-rise towers for residential and commercial use, a shopping center and five-star beachfront hotel. The towers will contain approximately 4,000 residential apartments.
Emaar Properties chairman Mohammad Ali Alabbar said Pakistan represented a vital link in Emaar's global and regional plans. "These current projects are only a small and initial part of our commitment to providing world-class living and infrastructure in Pakistan," Alabbar said.
He added: "Pakistan will play an important role in the development of Emaar's reputation in Asia, and remains one of our most significant commitments outside of the UAE."
The Highlands development is located within the Defense Housing Authority Islamabad (DHAI) Phase 1 extension and Canyon Views is within the DHAI Phase 2 extension. Offering approximately 50 separate community districts with its own individual identity, a spectrum of architectural styles ranging from Mediterranean, Tuscan, Mughal, Arabic and Spanish, will be available.
Crescent Bay, located within Karachi's DHA Phase 8 and in close proximity to the DHA golf course, will also offer individual architectural styles for each tower within the development. All three projects are expected to be completed in the next four to five years.
Mohammad al-Falasi, managing director of Emaar Pakistan, said: "Our goal is to create a series of exciting developments that set new standards for commercial and residential property.
"Highlands, Canyon Views and Crescent Bay will set these standards and are the first of many projects that we have planned for other cities in Pakistan, which we will be developing over the next few years."
Falasi added: "We are aiming to preserve 20 percent of the project area as green space, offering a haven of peace and natural beauty in the middle of a thriving community."
Emaar's self-contained communities have created lifestyle options that have been the first choice for residents around the world. The integration of schools, health facilities, parks, landscaped grounds and retail centers with golf, equestrian and marina-themed lifestyles has proved a winning combination.
Emaar already has projects in Saudi Arabia, Syria, Morocco, Egypt and other Arab states.
Dubai,06 06 2006
The Daily Star