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Deal signed to built world's tallest building in Karachi.

Islamabad, Feb 16 ( ANI ): Pakistan's property tycoon and founder of Bahria Town, Malik Riaz, has signed a deal to construct the world's tallest building in Karachi.

The real estate magnate signed the agreement with Chairman of the Abu Dhabi Group, Union National Bank and United Bank Limited Nahyan bin Mubarak Al Nahyan, under which 45 billion dollars will be invested in Pakistan for various construction projects.

According to the Daily Times, this would be the biggest and historical investment in Pakistan.

The Abu Dhabi Group has previously made huge and successful investments in country with the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom.

Out of the total investment, 10 billion dollars will be invested in Islamabad and Lahore, whereas 35 billion dollars investment would be made in Sindh, the report said.

According to the paper, the projects include the construction of the tallest building of the world, taller than Burj Khalifa, Dubai, in Karachi, a sports city, educational and medical city, international city and media city.

The project also includes the construction of miniatures of Seven Wonders of the World, the paper added. ( ANI )

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Publication:Asian News International
Geographic Code:9PAKI
Date:Feb 16, 2013
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