$30**BN **includes Etiselat investments in PTCL ($2.5BN), then more importantly nowhere does it say whether these projects will be financed by foreign investments.
Going by Emaar past projetcs, they will come in with their seed money and finance major portion of investments through local markets. There is nothing wrong with this strategy as long as it yields the desired results.
Dubai's Jebel Ali port was going to face open competition from the proposed Gwader deep water port facilities. They had the vision and business acumen to realize it is better to invest into a project with better fundamentals rather than try, compete and face financial failure. Jebel Ali port facilites are of high standard, but lack of water depth and geography limits Dubai potential, wheras Gawader is ideally situated with deep water giving it access to central asian countries and heavy duty tankers.
By the way, these Dubai dudes are the coolest, nothing like the Kuwaiti or Saudi stiff necked camel jocks. Sh Muhammed has taken Dubai from a small trading outpost into a internationally acclaimed trading center. If not all, most of the multi-national regional headquarters are making Dubai as their choice of location, you are free to pray with no fear of being harrased becose of your religious beliefs, if u r not the religious sort and want to have some fun then Dubai offers some of the greatest places to either party or just plain adventure in the sun.
Major agreements signed by Emaar Properties and Dubai World this week means the investments by the two businesses will account for more than a quarter of Pakistan’s gross domestic product (GDP) of US $118 billion (PKR 7 trillion). Emaar is to spend more than $20.39 billion on four major projects in Islamabad and Karachi, while Dubai World is looking to spend $10 billion on the construction of a modern waterfront on the Karachi coastline, as well as the development and management of ports across Pakistan. The duo’s investment signals a new beginning as far as foreign investment into Pakistan is concerned — last year only $2 billion was pledged from firms outside of the country.
The Emaar projects are: an $18 million mixed-use development in Karachi, which will comprise homes, hotels and golf courses; as well as two new projects in Islamabad and one in Karachi, with a total investment of $2.4 billion. Islamabad will be the location for the Highlands and Canyon Views projects. The 1,500-acre area of both the developments will see 9,000 town homes and villas, retail centres, community clubhouses, parks, lakes, schools and mosques built. Karachi will be home to Crescent Bay, a 75-acre development featuring high and mid-rise towers for residential and commercial use, a shopping centre and five-star beachfront hotel. The towers will contain approximately 4,000 residential apartments. All four developments are expected to be completed within the next five years. Mohamed Ali Alabbar, chairman, Emaar, said: “These current projects are only a small and initial part of our commitment to providing world-class living and infrastructure in Pakistan.” Dubai World’s work will see the construction of free zones and modern ports, which will be managed by DP World, the region’s leading port and terminal operator.