Former chairman and present consultant of Bahria Town, Malik Riaz Hussain has signed an agreement with Nahyan bin Mubarak Al Nahyan, the Chairman of the Abu Dhabi Group, Union National Bank & United Bank Limited, to construct the world’s tallest building in Karachi.
The groups will invest $45 billion in Pakistan, the biggest and historical investment in the country, which will provide employment to 2.5 million people in Pakistan This agreement will also give boost to more than 55 sectors in industries, particularly iron , cement, and glass manufacturing.
Out of the total investment, $35 billion investment will be made in Sindh while $10 billion will be invested in Islamabad and Lahore.
The agreement is expected to make a revolutionary impact on not only the economy of Pakistan, but also tourism of the country. An eminent feature of this project is the utilization of seawater for the production of electricity. The projects, all of which Sheikh Nahyan said will be started soon and completed in three-four years, will have their own grid station.
It is pertinent to mention that Abu Dhabi Group has previously made huge and successful investments in country with the establishment of Bank Alfalah, Wateen Telecom, and Warid Telecom.
Other than construction of the tallest building of the world, taller than Burj Khalifa, Dubai, in Karachi, an international, educational, medical city, media city a sports city and miniatures of the world’s seven wonders will also be build in Pakistan.
