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Deal signed to build world’s tallest building in Karachi

(Staff Reporter) / 16 February 2013

DUBAI - Pakistan’s property tycoon and founder of Bahria Town, Malik Riaz, has inked an agreement with Abu Dhabi Group to construct the world’s tallest building in Karachi, reports said on Friday.

According to televison reports, the groups would invest $45 billion in Pakistan which would open up employment opportunities to 2.5 million people.

Under the deal, investment amounting to $35 billion will be made in Sind, while $10 billion will be invested in Islamabad and Lahore. Under the deal, which represents the largest foreign investment in Pakistan, facilities such as sports, international, media, educational and medical cities will be built in Pakistan’s financial capital.

Reports said miniatures of the world’s seven wonders would also be built as part of the project.

This agreement would give boost to more than 55 sectors in industries, particularly cement, iron and glass manufacturing, the reports added.


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