Safe city project: Malik Riaz vows to bring more investment in country

Bahria Town and a US investment group signed an memorandum of understanding (MoU) for $15 to 20 billion investment on Monday.

Former Chairman of Bahria Town Malik Riaz and US investment group Thomas Kramer inked the MoU on behalf of their respective companies for the Bodha Island City project.

Under the project Bahria Town in collaboration with the foreign companies associated with prominent US investor Thomas Kramer would construct the world’s tallest building and a number of other projects some 3.5-kilometres off the Karachi shore.

Malik Riaz speaking on the occasion said that if he is given a chance he would make Pakistan into Dubai and Europe, He said that the project would help provide employment to the unemployed and this in turn would help eliminate terrorism. He said that we would continue to invest in Pakistan despite all odds and we are in talks with foreign investors. Continue reading

Mareer Tunnel project to be completed in time

RAWALPINDI: Rawalpindi Division Commissioner Imdadullah Bosal has directed the authorities concerned to accelerate the pace of work at the Mareer Chowk Tunnel Project, so that it could be completed within the stipulated time frame.

Imdadullah Bosal has issued directives to complete the construction work within the shortest possible time frame, so that the problems being faced by citizens could be minimised.

The Rawalpindi Development Authority (RDA) commissioner said, “It was an exceptional project as compared to other development works initiated by the government of Punjab.”

The design of the project was approved by the Railway Department, keeping in view the passage of trains through out the day from the Mareer Chowk Railway Bridge.

According to reports, about 35 percent of the development work has been completed and construction of the road is being carried out without any delay, while the superstructure that is to be installed on the tunnels would be made of steel and work in this regard has also been started.

The RDA DG also said, “The contractor company is trying its best to complete the project within the given time frame, which is
May 15.” app Continue reading

Bahria Town, US group sign major investment deal

ISLAMABAD (Dunya News) – Real estate developers and investors Bahria Town and a US investment group signed a memorandum of understanding (MoU) over a number of projects including development of safe city island and construction of world’s tallest building in Karachi.

Bahria Town in collaboration with the foreign companies would construct the world’s tallest building and Bodha Islanad City some 3.5-kilometres off the Karachi shore.

Bodha City Island, which covers 12,000 acres of land, will be developed within five years and it would be linked with Karachi through a six-lane bridge.

A spokesman for Bahria Town said that project would create 2.5 million jobs, whereas, the island will have 125,000 houses. Continue reading

CDA delays squatters eviction from I-11/1

ISLAMABAD  – The Capital Development Authority (CDA) has delayed eviction of squatters from Sector I-11 of the federal capital due to political pressure.

Sources said that CDA administration has decided to allot alternate plots in Sector I-11/2 to allottees of 487 plots in Sector I-11 occupied by slum dwellers.

The CDA had allotted 850 residential plots to the civic body employees in 1990, however, despite lapse of 23 years the sector could not be developed.

National Assembly Standing Committee on Cabinet Secretariat has directed planning wing to develop 250 residential plots in Sector I-11/2 in the first phase.

The plots would be allotted to affectees of Sector I-11/1.

When contacted, CDA Member Estate Management, Shaista Sohail said that solution of the situation would be sorted out after negotiation with the allottees of the said sector. Continue reading