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Karachi gets the best of international investments in Pakistan - Zameen News

Karachi gets the best of international investments in Pakistan

April 19, 2013 • news

budal

The potential held by Pakistan real estate sector is promising enough to entice the investors from all around the world including the world’s construction capital the UAE and the global investors’ capital, the US.

With a fairly large chunk of population who is under the age of 35, Pakistan enjoys a unique status among the developing countries of the world. The vigour and zest possessed by the local population and their aspirations of playing their role in making Pakistan a better and more respectable country on the globe is not hidden. The drawing of investors towards Pakistan and its realty sector is just one of the indicators that the world has realized the country’s true potential.

Not too long ago, the news about a UAE based company showing interest in erecting the world’s tallest building in Karachi made big headlines in international news media. Within a month after the tallest building’s project was scraped, the famous property tycoon of Pakistan real estate, Malik Riaz Hussain, closed a more concrete and rather grand deal with Thomas Kramer, a German-born and US-based real estate developer known internationally for gentrifying South Beach in Miami, Florida.

The real estate tycoons of the two different worlds, signed a $20 billion deal for the construction of South Asia’s first Island city, named as the Bundal $ Buddo Island, Karachi. In terms of the involved investment amount and the scale of the project, Bundal & Buddo City is a far bigger project than the one scrapped by the UAE investment company earlier this year. This project promises to offer the range of amenities and facilities in Pakistan that have never been introduced in the region before.

With projects like these, the coastal city of Pakistan can hope to gather the worth and importance that it truly deserves. It is also believed that the pact signed between Hussain and Kramer is the first one in the series of major international investments heading to Pakistan.