Pakistan Government approval for Emaar project

The project, a 85:15 joint venture with the Qasim Port Authority, has a development outlay of $43 billion (AED 158 billion) and is planned to be built over a period of 15 years. The legal formalities on the formation of the joint venture are expected to be completed during the next three months.

Emaar is thankful to the Government of Pakistan for the trust they have placed in the company's capabilities. The project is to create a mixed-use development that will reenergize the Pakistani economy and generate employment for the Pakistani youth. The landmark development will consist of residential and commercial components, retail and leisure facilities besides hotels and lifestyle amenities including parks and water features.

As the pioneer of master-planned communities in Pakistan, Emaar has already rolled out the Canyon Views project in Islamabad. This is part of a PKR145 billion (US$2.4 billion) outlay by Emaar in the country that include the Highlands development, also in Islamabad, and Crescent Bay in Karachi.