New “New Karachi”?

Many thanks to Manny for pointing us towards this news. Limitless, the real estate investment arm of Dubai World, will be investing more than Dh 73 billion ($19.9 billion) into karachi for developing a new mega project.  The company will spearhead the Karachi Waterfront, a 25,000-hectare collection of residential, commercial, recreational and entertainment facilities, and represents its first international project since being officially launched by Dubai World in April. Quoted from Gulfnews:

“This is a major project involving phased development of the 25,000 hectare site west of Karachi. It will be a new Karachi,” said [Dubai World Chairman Sultan Ahmad ] Bin Sulayem.

Umm… dont we already have a new karachi? How many new karachi’s can we have? Still a very good sign for the future. By the way.. give this article a read to “Pakistan Set to be Asian Tiger

5 Comments so far

  1. Saad (unregistered) on July 23rd, 2006 @ 6:49 pm

    Her cheez kay peechay koi raaz hota hai. Why are the arabs pouring money in pk? what do they want? its not just sindhi biryani they are after, i figured that much.

  2. mansoor (unregistered) on July 23rd, 2006 @ 7:03 pm

    saad: the article states that arabs are bringing money into pakistan because
    a) raise in petrol prices has put more dollars into their pockets
    b) dubai has reached saturation point as far as construction goes…
    c) they are diversifying their holdings into other countries such as east asian and african countries
    d) pakistan is viewed as a favourable investment destination
    e) forecast of pakistan being the gateway to the world for the goods of the landlocked Central Asian Republics and a faster way to market for Russia and China (Gwadar port)

  3. IllusionFS (unregistered) on July 23rd, 2006 @ 7:48 pm

    $20 Billions, wow. that would certainly give a big boost to the city.

  4. SWA (unregistered) on July 23rd, 2006 @ 9:09 pm

    Find more info about this project here:

  5. Adnan Siddiqi (unregistered) on July 23rd, 2006 @ 9:57 pm

    Does anyone know history of New Karachi and Model Colony?

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