Karachi Waterfront
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Master plan for $68bn project finalised
By Our Staff Reporter
KARACHI, Feb 21: City Nazim Mustafa Kamal said on Wednesday the master plan to develop a new city "Karachi Water Front Sugar Land City" on 60,000 acres at Hawkesbay has been finalised.
Talking to the journalists here on Wednesday, he referred to a meeting held in this regard in Islamabad. He said the project would cost around 68 billion dollars. The agreement for the water front project would be signed in March with Nafeel Development of Dubai, he added. [Should that be Nakheel?]
In reply to a question, the nazim said President Musharraf had approved the plan and this would be the country's biggest project which would provide job opportunity to millions of people. He hoped people would be hired not only from different parts of the country but also from abroad.
He said the concerned authorities had issued NOC for the construction of new city.
He said the meeting in Islamabad was also attended by Federal Ports and Shipping Minister Babar Ghori, Sindh Chief Minister Arbab Rahim, Chief Secretary Fazlur Rehman, KPT chairman, and representative of Nafeel Development and the Chief Executive of Dubai Islamic Bank.
http://www.dawn.com/2007/02/22/local27.htm
KARACHI: A delegation of the Dubai Islamic Bank (DIB) called on Sindh Chief Minister Dr Arbab Ghulam Rahim to discuss the 65,000-acre Karachi waterfront project.
The delegation was led by DIB Chief Executive Saad Zaman and Real Estate Advisor Atif Sheikh. The CM expressed keen interest in the project and assured cooperation at all stages. Zaman said that the investors of Dubai World and the Nakeel group have conducted an aerial survey of the entire landscape and found it suitable for the waterfront project.
The chief minister said that all legal formalities shall be completed before embarking upon this mega project to ensure transparency. He said he would personally prefer it if the investors prepared the outright purchase of the land instead of looking for equity, which is a lengthy process and shall unnecessarily delay the commissioning of the project.
By Our Staff Reporter
KARACHI, Feb 21: City Nazim Mustafa Kamal said on Wednesday the master plan to develop a new city "Karachi Water Front Sugar Land City" on 60,000 acres at Hawkesbay has been finalised.
Talking to the journalists here on Wednesday, he referred to a meeting held in this regard in Islamabad. He said the project would cost around 68 billion dollars. The agreement for the water front project would be signed in March with Nafeel Development of Dubai, he added. [Should that be Nakheel?]
In reply to a question, the nazim said President Musharraf had approved the plan and this would be the country's biggest project which would provide job opportunity to millions of people. He hoped people would be hired not only from different parts of the country but also from abroad.
He said the concerned authorities had issued NOC for the construction of new city.
He said the meeting in Islamabad was also attended by Federal Ports and Shipping Minister Babar Ghori, Sindh Chief Minister Arbab Rahim, Chief Secretary Fazlur Rehman, KPT chairman, and representative of Nafeel Development and the Chief Executive of Dubai Islamic Bank.
http://www.dawn.com/2007/02/22/local27.htm
KARACHI: A delegation of the Dubai Islamic Bank (DIB) called on Sindh Chief Minister Dr Arbab Ghulam Rahim to discuss the 65,000-acre Karachi waterfront project.
The delegation was led by DIB Chief Executive Saad Zaman and Real Estate Advisor Atif Sheikh. The CM expressed keen interest in the project and assured cooperation at all stages. Zaman said that the investors of Dubai World and the Nakeel group have conducted an aerial survey of the entire landscape and found it suitable for the waterfront project.
The chief minister said that all legal formalities shall be completed before embarking upon this mega project to ensure transparency. He said he would personally prefer it if the investors prepared the outright purchase of the land instead of looking for equity, which is a lengthy process and shall unnecessarily delay the commissioning of the project.
'Qatar to construct 'city center' in Karachi' 
ISLAMABAD (April 27 2007): Project Director, Tameer Karachi Programme, Rauf Akhtar Farooqi on Thursday said that Qatar government was interested in constructing a "city center" in Karachi at a cost of $1.5 billion. Talking to PTV about the mega projects in Karachi he said.
it was for the first time that federal government was taking interest in the development of Karachi and development projects worth Rs 29 billion were nearing completion. He said, mega project of Sohrab Got flyover would be completed in next two months. Phase one of it was already open for the public.
Another mega project is the reconstruction and rehabilitation of the road, which leads towards Korangi industrial area. It was the long awaited demand of the public, he said, adding this project would cost Rs 1.120 billion and would be completed in three months.
Farooqi said corridor one project, which included three flyovers, three underpasses was completed in record time of eight months, adding it had reduced pressure on the main highways. He said, similarly, the corridor two project, which was recently approved by City Nazim Mustafa Kamal would start from Sharah-e-Faisal and after passing through Gulistan-e-Johar and Gulshan Iqbal would terminate at Nazim Chorangi.
"We will never compromise on quality, all roads are of international standard and their life is 30 to 35 years," he added. He said every road had its drainage system and the underground system was being improved so that there was no need to break the road if there was any problem of leakage or drainage, adding all underground infrastructure had been improved.
He was optimistic that rainy season would not be a trouble for the citizens of Karachi. Farooqi said that increasing foreign direct investment in Karachi manifests that foreigners had full confidence in the city's future.
He said, Karachi elevated expressway was a project of $350 million and a Malaysian company was investing in this project. Malaysia was also constructing an Information Technology Tower in Karachi, which would be the largest building of Pakistan, he said adding it would be 47-story building and there would be 10,000 call centers in it.
http://www.brecorder.com/index.php?id=556430&currPageNo=1&query=&search=&term=&supDate=
ISLAMABAD (April 27 2007): Project Director, Tameer Karachi Programme, Rauf Akhtar Farooqi on Thursday said that Qatar government was interested in constructing a "city center" in Karachi at a cost of $1.5 billion. Talking to PTV about the mega projects in Karachi he said.
it was for the first time that federal government was taking interest in the development of Karachi and development projects worth Rs 29 billion were nearing completion. He said, mega project of Sohrab Got flyover would be completed in next two months. Phase one of it was already open for the public.
Another mega project is the reconstruction and rehabilitation of the road, which leads towards Korangi industrial area. It was the long awaited demand of the public, he said, adding this project would cost Rs 1.120 billion and would be completed in three months.
Farooqi said corridor one project, which included three flyovers, three underpasses was completed in record time of eight months, adding it had reduced pressure on the main highways. He said, similarly, the corridor two project, which was recently approved by City Nazim Mustafa Kamal would start from Sharah-e-Faisal and after passing through Gulistan-e-Johar and Gulshan Iqbal would terminate at Nazim Chorangi.
"We will never compromise on quality, all roads are of international standard and their life is 30 to 35 years," he added. He said every road had its drainage system and the underground system was being improved so that there was no need to break the road if there was any problem of leakage or drainage, adding all underground infrastructure had been improved.
He was optimistic that rainy season would not be a trouble for the citizens of Karachi. Farooqi said that increasing foreign direct investment in Karachi manifests that foreigners had full confidence in the city's future.
He said, Karachi elevated expressway was a project of $350 million and a Malaysian company was investing in this project. Malaysia was also constructing an Information Technology Tower in Karachi, which would be the largest building of Pakistan, he said adding it would be 47-story building and there would be 10,000 call centers in it.
http://www.brecorder.com/index.php?id=556430&currPageNo=1&query=&search=&term=&supDate=
The multi-billion-dollar Karachi Waterfront project planned by Limitless is on hold as the Dubai-based developer struggles to reach an agreement with the Pakistani government to proceed.
Look What the new government has done to Karachi's Waterfront.
The Source is meed>dot<com
Look What the new government has done to Karachi's Waterfront.
The Source is meed>dot<com
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DHA Phase VIII projects foresee completion in 3 years
Saturday, August 23, 2008
KARACHI: Karachi is creating a new skyline along the coast of Arabian Sea in Defence Phase 8. Currently, four international projects are under construction in this area, on their way to establish the first creek enclave in Pakistan.
It may be recalled that the Defence Housing Authority (DHA), Karachi, announced its plan to develop Phase 8 in 1987 but it was only in 1994 that DHA began allotting plots to army officers and announced permission for construction in its first three belts.
All residential and commercial plots in DHA Phase 8 today are owned by the private sector and permission for construction has only been granted for a portion of the phase.
As a result of the Pakistan property boom that began in 2001, big names of the international real estate industry also sat up and took notice of the Karachi coastline. Crescent Bay by Emaar Pakistan, Creek Vista and Creek Marina by Meinhardt Singapore Pte Ltd and Creek Side by Abu Dhabi based Injaz Mena Investment Company PSC, joined with UK-based Global Haly Investment Ltd, are all multi billion dollar projects expected to be completed within the next three years.
Sysmax, a Malaysian firm, developed the DHA Golf Club in Phase VIII and is currently working on the soon-to-be-built Raffles International Club. According to further details, construction of new roads, new sewerage lines, water supply lines, water reservoirs and KESC lines is under way and will be completed within the three-year timeframe. The contractor for this project is the National Logistics Cell (NLC) and the cost of construction for the roads is estimated to be around Rs2.07 billion.
An industry analyst informed The News that the UAE based DAMAC developers were also in line to start a project. However, conflict with the government and the DHA led to their backing out of the deal. One important question that arises is with what price tags are these projects expected to bring for their properties. An official of one of the projects informed that their prices ranged between Rs15 and 25 million. He hesitated to reveal more since his companys polices do not allow the project to be discussed as yet.
A real estate agent, who specialises in DHA and Clifton properties, shared that all four projects were competing with each other and therefore, any information regarding their work was considered sensitive.
He said that one particular project was in fact being bad-mouthed by estate agents, since developers had refused to involve these agents in the project. On an average, all these apartments are roughly priced between Rs10 million to Rs25 million depending on the developer, the locality, the tower, etc. This is without adding the taxes and other additional charges, the source added.
General Manager of Sales and Marketing, Creek Marina, Shabbir Siraj, said that due to inflation and the increasing prices of cement, steel and other construction materials, they were compelled to add the rising cost of production to the bills of their potential new clients.
He informed that the new prices would be 15-20 per cent higher than their earlier quoted ones, before quickly adding that property prices did increase with time and it was therefore, keeping the local market price in mind, that the new evaluation was being done.
Clients who had booked apartments that were sold earlier during our first launch will remain on the earlier contract and pay their remaining instalments as was agreed in the initial project, he clarified.
A sales executive of another project who preferred to remain anonymous (also due to company policies) said that most of the buyers of these projects were overseas Pakistanis. If 60 per cent of all these projects have been sold collectively, then about 40 per cent are owned by those Pakistanis who have dual nationalities or have well-established businesses abroad and consider these complexes to be a part of their future investments.
He further reasoned that high level projects are introduced after thorough research is carried out regarding the market and its consumers. Obviously we do have buyers, thats why we can see these projects coming up. No business likes to play blindly and get established first and then wait for customers.
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The Creek Terraces in the pic above are most likely to start next year cuz Creek marina right now is under construction.
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KARACHI, Oct 28 (APP)- A special meeting of DHA’s Executive Board chaired by its President, Corps Commander Lt. Gen Shahid Iqbal, was held here at Headquarters 5 Corps to approve DHA’s development budget for the fiscal year 2010-2011.A DHA statement here on Thursday said that the Corps Commander asked the DHA staff and management to build continually upon the trust of the Housing Authority, to maintain transparency and professionalism in all their undertakings and to uphold DHA’s good name, reputation and credibility at all cost.
He also stressed on the need to revive the Hospital project in DHA Phase-VIII for provision of a top-of-the-line medical facility and subsequently the establishment of a medical College for the welfare and well being of DHA’s residents and citizens of Karachi.
Gen. Shahid Iqbal directed the DHA to get DHA City project included in the loop of Mass Transit System 2030 of Karachi which would substantially reduce the traveling time from DHA City to the metropolis.
He also desired that DHA should evaluate developing projects like state-of-the-art theme park, Disney Land, a food court etc in the recently launched DHA City Karachi project on Super Highway in the early stages of its development to create attraction and enhance the credibility of the area.
The Corps Commander said that this would give a boost to fast track development of the new satellite estate.
The Executive Board approved a development strategy for DHA to ensure speedy and substantial infrastructure development of phase-VIII and other ongoing development works in DHA.
Early completion of DHA City Karachi project within the stipulated timeline was also the significant feature of the envisaged strategy.
Director Finance DHA said that a record amount of Rs. 4.3 billion including Rs. 2.6 billion for Phase-VIII development has been earmarked in the budget for undertaking intense multifaceted development works in the Housing Authority.
A sum of Rs. 1.25 billion has been separately earmarked for master planning and other development works of DHA City Karachi for this year.
Revival of stalled waterfront projects has also been stressed in the budget.
The Board was further informed that recovery of refurbishment charges was must to ensure speedy and uninterrupted development of DHA Phase-VIII as per the stipulated schedule.
Director Development DHA said that development works to be undertaken this year included construction of two car parking plazas at Zamzama and Stadium commercials, construction of Dalton Shopping Mall, construction of three Sewerage Treatment Plants, construction of DHA Sports Club and a host of other development projects.
The infrastructure development works in DHA Phase-VIII will include construction of roads, streets, water reservoirs/supply lines, infrastructure development of Sector B, C and E-8, Zulfiqar Commercial area and electric woks etc. Sector B of Phase-VIII will be opened for construction next year.
Administrator DHA, Brig Aamer Raza Qureshi, presented the vote of Thanks and said that Lt. Gen Shahid Iqbal during his tenure as President Executive Board made epoch making contributions towards the achievement of objectives of the Housing Authority.
He said that President Executive Board infused a spirit of versatility and dynamism in the organization by giving a futuristic vision culminating into initiation and completion of projects of historic significance.
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