{"id":4590,"date":"2013-12-17T10:27:05","date_gmt":"2013-12-17T10:27:05","guid":{"rendered":"http:\/\/www.zameen.com\/blog\/?p=4590"},"modified":"2017-12-11T12:32:28","modified_gmt":"2017-12-11T07:32:28","slug":"what-was-the-mistake-of-creek-marina-investors","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/what-was-the-mistake-of-creek-marina-investors.html","title":{"rendered":"What was the mistake of Creek Marina Investors?"},"content":{"rendered":"<p><a href=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2013\/12\/karachi.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4591 aligncenter\" alt=\"IM000851.JPG\" src=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2013\/12\/karachi.jpg\" width=\"600\" height=\"350\" \/><\/a>Yes, it\u2019s the same Creek Marina, which was advertised back in 2005 as dazzling development that would comprise of eight residential towers near the blue waters of Karachi Sea and engulfed by green trees.<\/p>\n<p>Around eight years have lapsed and the investors are still waiting for the completion and delivery of the project. It was supposed to be completed by December, 2009; but thanks to the beautiful collaboration developed between DHA (Defence Housing Authority) and Meinhardt (a Singapore-based firm) that a huge amount of money of hundreds investors is on stake.<\/p>\n<p>Seeking consolation, each family funnelled about Rs. 15 million into the Creek Marina apartments, but the dream of about 250 families to possess a \u2018sweet home\u2019 in the neighbourhood is far from realization. What a distress that the project is still stuck in a legal limbo between the well-known DHA and Meinhardt, the Singaporean developer.<\/p>\n<p>About 85% of the total instalments have been paid by the investors, what worries them is the fact that no notable progress is being witnessed in this project. Creek Marina Private Ltd (CMPL), a separate body was created to lead the project as promised, but the deadlock between the two parties does not seem to provide a \u2018bang for the buck\u2019 to the investors.<\/p>\n<p>The Sindh High Court, in 2011, ordained DHA to utilise the funds available in CMPL\u2019s account for the development of locality. However, no amounts were disbursed by the Defence Housing Authority in this regard. A DHA official unearthed his views that the authority fears that Meinhardt will run away with the money and that the DHA is thinking about going to the court, once again, against Meihhardt.<\/p>\n<p>So, what was the mistake of innocent investors? I think they did something wrong to dream about lavish living around blue water and beautiful trees or they did a mistake to trust the DHA for Creek Marina Apartments. Whatever it is, the situation currently seems quite blurry with no light at the end of the tunnel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yes, it\u2019s the same Creek Marina, which was advertised back in 2005 as dazzling development that would comprise of eight residential towers near the blue waters of Karachi Sea and engulfed by green trees. Around eight years have lapsed and the investors are still waiting for the completion and delivery of the project. It was supposed to be completed by December, 2009; but thanks to the beautiful collaboration developed between DHA (Defence Housing Authority) and Meinhardt (a Singapore-based firm) that a huge amount of money of hundreds investors is on stake. Seeking consolation, each family funnelled about Rs. 15 million into the Creek Marina apartments, but the dream of about 250 families to possess a \u2018sweet home\u2019 in the neighbourhood is far from realization. What a distress that the project is still stuck in a legal limbo between the well-known DHA and Meinhardt, the Singaporean developer. About 85% of the total instalments have been paid by the investors, what worries them is the fact that no notable progress is being witnessed in this project. Creek Marina Private Ltd (CMPL), a separate body was created to lead the project as promised, but the deadlock between the two parties does not seem&hellip;<\/p>\n","protected":false},"author":5,"featured_media":4591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"persona":[],"class_list":["post-4590","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What was the mistake of Creek Marina Investors? - Zameen News<\/title>\n<meta name=\"description\" content=\"Yes, it\u2019s the same Creek Marina, which was advertised back in 2005 as dazzling development that would comprise of eight residential towers near the blue\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/what-was-the-mistake-of-creek-marina-investors.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What was the mistake of Creek Marina Investors? - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Yes, it\u2019s the same Creek Marina, which was advertised back in 2005 as dazzling development that would comprise of eight residential towers near the blue\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/what-was-the-mistake-of-creek-marina-investors.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2013-12-17T10:27:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-12-11T07:32:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2013\/12\/karachi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"615\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaista Zulfiqar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaista Zulfiqar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What was the mistake of Creek Marina Investors? 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