Bahria Town, US group sign $20 bn investment MoU

[HRK]

What a load of BS...

Very soon, the only city MR is gonna see is Jail City. He is grasping onto straws now. There are so many cases against him (pending) that would even make Zardari ashamed.

...........there is nothing which can make Mr. Zardari ashamed.....he one of his own kind

 

[A.Rafay]

We should not trust this untill I see that island being reclaimed! That island is as bigger as dha phase 8!

 

[somebozo]

Jang Multimedia

Don't know it's a mistake or a deliberate attempt just read the Slogan of Bheria Town written in today's Daily Jang Urdu news paper
" BHERIA COMMITS-BHERIA DECEIVERS"




BTW English version of the same news.....

Big US investor Kramer signs Rs15-20 bn deal with Bahria Town today

You know its a hoax from a number of indicators. Investments are always spoken in absolute terms, there is no wide ranging estimates like 15-20 Billions.

The english site says 15-20 billion rupees while the Urdu site says 15-20 billion rupees. Atleast get the current right to begin with. Another Mailk Riaz fooling tactics.

Nothing on Thomas Kramer website as well

Future Projects « Thomas Kramer Thomas Kramer

 

[khanboy007]

yaar mujhe abhi bhi shaq hai

 

[notsuperstitious]

Does this kramer guy have that kind of money to invest in what will be a low return investment (as prices in karachi are not as high as many other places) in a risky country?

When the news with the abu dhabi group came out, I'd clearly said that the group does not have that kind of money to invest. I certainly have doubts if the number is 20 Billion USD.

 

[illusion8]

Does this kramer guy have that kind of money to invest in what will be a low return investment (as prices in karachi are not as high as many other places) in a risky country?

When the news with the abu dhabi group came out, I'd clearly said that the group does not have that kind of money to invest. I certainly have doubts if the number is 20 Billion USD.

He's worth 90 million, he's been probably signed up as a consultant to bring in investors.

 

[Windjammer]

Bahria Town, US group sign major investment deal

Bahria Town on Monday signed a $20 billion investment deal with Thomas Kramer.

ISLAMABAD (Dunya News) – Real estate developers and investors Bahria Town and a US investment group signed a memorandum of understanding (MoU) over a number of projects including development of safe city island and construction of world’s tallest building in Karachi.

Bahria Town in collaboration with the foreign companies would construct the world’s tallest building and Bodha Islanad City some 3.5-kilometres off the Karachi shore.

Bodha City Island, which covers 12,000 acres of land, will be developed within five years and it would be linked with Karachi through a six-lane bridge.

A spokesman for Bahria Town said that project would create 2.5 million jobs, whereas, the island will have 125,000 houses.

Dunya News: Pakistan:-Bahria Town, US group sign major investment deal...

 

[Green Angel]

It's FAKE FAKE FAKE..............

 

[somebozo]

Only Pakistani media is presenting it, could be just an MoU not even worth the paper and ink it is printed with.

I knew a well known con-artist in KSA who engaged in such property development scams. He would get developers and investors all over the world for name sake photo-session, massive PR campaigns and soon there would be investors making bee lines to purchase property and then suddenly everything vanished. The scammer was later extradited from Europe and is currently spending time in Saudi jail under Royal Hospitality of Saudi Mabahith!

 

[Edevelop]

Another MOU ?

Isn't this the same guy who built a massive house for Zardari in Lahore and got exposed with Musbashar Lucman and Mehr Bukhari on national tv ?

 

[Green Bullet]

This is pure BS, why would an American company invest in Pakistan when the business environment is poor.

 

[SQ8]

I am working on a contract in SA, I have signed a contract with them through a company registered in the US.
This is company has three employees..
The rest of the work is all carried out in Pakistan using other people.
Hence, we have an American face acting as consultants... with Pakistani labor costs.


Such approaches are not uncommon.

 

[War Thunder]

I fail to understand the critique.
Malik Riaz may not be an angel but he's a true Real Estate Tycoon and regarded in high stature both at home and abroad. And bahria town is definitely among the top real estate development projects in the world.

Developing a new island city with all the facilities will be a a huge revenue earner for him and a true marvel, and it's location will definitely rival other iconic cities in the region like dubai and abu dhabi...
So what's the issue here?




P.S: Hi, I'm from Islamabad and been a silent reader for some years now. Used to be very active on WAAF (world Armed forces Forum) back in the days when it was filled with sane folk but not anymore

Plan to topple Burj Khalifa's tallest building record back on track

Pakistan might after all boast of the world’s tallest building in the coming years.

Real estate developers Bahria Town has signed a memorandum of understanding (MoU) for $15 to $20 billion with US investors Thomas Kramer, Pakistan’s The News reported on Monday.

As per the MoU, Bahria Town in collaboration with foreign companies associated with Thomas Kramer would construct the world’s tallest building and a number of other projects, almost 3.5km off the shore of Karachi.

A Bahria Town spokesperson said the project called ‘Bodha Island City’ would be developed within a period of five to 10 years, adding that the project would comprise a ‘Net City’, ‘Education City’, ‘Health City’, ‘Port City’ and other infrastructure development projects.

“The world’s most modern shopping mall would also be built on the Island City, which would deal with international brands,” he further added.

According to reports, the Island City would be linked with Karachi through a six-lane bridge.

The firm announced its plan earlier this year, claiming to have secured funding with an Abu Dhabi firm. However, the UAE company later said it had cancelled a MoU.


7daysindubai.com/Plan-topple-Burj-Khalifa-s-tallest-building/story-18382564-detail/story.html

 

[illusion8]

The Kramer guy might be consulting for a few US based investors - but the assumption that 20$ billion investment within the next 5-6 years has been secured by Malik Riaz is wrong - people who have worked with foreign investments will know that how likely or unlikely it is for someone to bring in billions of dollars worth of investments. This is just the initial stage where a consultant has been contracted - there are no concrete proposals as of yet, just assumptions. Thousands of organizations in the world hire consultants for FDI or project finance - the finance or investment actually coming in depends on N number of factors.

 

[somebozo]

Now the news link appears on Thomas Kramer website too but no need to get excited as this is just an MoU to evaluate the feasibility and may as well be cancelled over a number of issues. Wait until the founding stone is laid.


THE WORLD

Malik Riaz speaking on the occasion said that if he is given a chance he would make Pakistan into Dubai and Europe, He said that the project would help provide employment to the unemployed and this in turn would help eliminate terrorism. He said that we would continue to invest in Pakistan despite all odds and we are in talks with foreign investors.

Malik Riaz said that he promises the nation that in next few years he would bring foreign investment worth more than Rs 50 billion and no one can stop that. He said that until children are given quality education Pakistan cannot excel.

Well this guy is talking some sense but the project is not going to bode well with our Arabi friends.


Then there is something shoddy here. The news link to BBC from TK website mentioned about a $43bn project being handed to Emaar Properties.

BBC NEWS | Business | Pakistan agrees $43bn development

http://thomaskramer.com/wp-content/...siness-_-Pakistan-agrees-43bn-development.pdf