Sheikh Nahyan bin Mubarak Al Nahyan, chairman Abu Dhabi group has signed a $45bn accord with a private housing and construction company, the Bahria Town in Abu Dhabi Friday.
Signing of the $45bn accord between Sheikh Nahyan bin Mubarak, chairman Abu Dhabi group and consultant Bahria Town Malik Riaz
Under the agreement 45 billion dollars will be invested in Pakistan for various construction projects, which is the biggest and historical investment in Pakistan. Abu-Dhabi group has previously made huge and successful investments in Pakistan by the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom.
Out of the total investment value 10 billion dollars will be invested in Federal Capital- Islamabad and Lahore (Punjab) whereas 35 Billion dollars will be invested in Sindh.
These projects also include the construction of tallest building of the world (taller than Burj Khalifa, Dubai) in Karachi. Moreover, the project encompasses Sports city, Educational & Medical city, International city & Media city. The project also includes the construction of miniatures of Seven Wonders of the World.
A distinguished feature of this project is the utilization of seawater to produce electricity. The projects will have their own grid station.
Moreover, a separate modern water treatment plant will be established to convert seawater into drinking water. These features make this a landmark project in Pakistan, which addressing the current water & electricity issues of the country. Works on this monumental project will soon be starting.