Malik Riaz, Abu Dhabi Group to invest $ 35B
18 February, 2013
For the first time a huge investment of $ 35 billion would be made in Pakistan.
Under an agreement signed between Malik Riaz and Abu Dhabi Group the tallest building of the world would be built in Karachi.
The former chairman of Bahria Town and its present consultant Malik Riaz Hussain and Chairman of Abu Dhabi Group Shaikh Nahyan bin Mubarak al Nahyan singed the agreement for the biggest construction project of Pakistan.
Under the agreement an investent of $ 45 billion would be made in various construction projects in Pakistan. This would include a $ 1 billion investment each in Lahore and Islamabad and an investment of $ 35 billion in Karachi which include the construction of the world's tallest building.
In addition, a sports city, international city, education & medical city and media city would also be constructed.
Miniatures of the Seven Wonders of the world are also a part of these construction projects.
It has also been learnt that these projects would generate an employment for for 2.5 million people and promote 55 industries.
One of the prominent part of the project include harness energy from sea and generate energy from it with a grid of its own.
In addition, sea water would be turn potable by developing a latest water treatment plant.