Indeed a very good news for the Land of Pure. Shows the investors confidence is coming back…
KARACHI (March 25 2004): Saudi Engineering Group International (SEGI) has signed memorandums of understanding (MoUs) with the City District Government Karachi (CDGK) to invest $500 million in two different projects in Karachi. The two projects include the revival of tramway service in Karachi at a cost of $200 million and the creation of Bundle Island, a tourist spot near Creek Club worth $300 million.
The estimated completion time of both the projects are one and three years respectively. http://www.brecorder.com/index.php
That's all wonderful for karachi, but can someone please also do something for karachi's antiquated power supply network. Recently karachi had another horrible blackout, thanks to KESC.
The salient features of the project included the establishment of a 7-star hotel, water park, safari, health club, animal rides, courtyard, aquariums, bowling and ice skating, boat rides, guest marina, restaurants, hospital, entertainment centres, etc, he added.
Punjab Govt. is developing New Murree on the same lines as Switzerland. Royal Saudi and Dubai Sheikhs have shown interest in that project too. Its going to be a completely new, planned city. The govt. handouts says its going to cater for the elites and the plots and everything else will be expensive to highlight the exclusivity factor.
Then there is a 6 star hotel that is going to be developed in Islamabad near Convention Center.
Re: Saudi group to help build island city and tramway...
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*Originally posted by ZulfiOKC: *
and the creation of Bundle Island, a tourist spot near Creek Club worth $300 million.
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Never been to Bundle Island. What kinda place is that?