Master plan for $68bn project finalised
By Our Staff Reporter

KARACHI, Feb 21: City Nazim Mustafa Kamal said on Wednesday the master plan to develop a new city "Karachi Water Front Sugar Land City" on 60,000 acres at Hawkesbay has been finalised.

Talking to the journalists here on Wednesday, he referred to a meeting held in this regard in Islamabad. He said the project would cost around 68 billion dollars. The agreement for the water front project would be signed in March with Nafeel Development of Dubai, he added.

In reply to a question, the nazim said President Musharraf had approved the plan and this would be the country's biggest project which would provide job opportunity to millions of people. He hoped people would be hired not only from different parts of the country but also from abroad.

He said the concerned authorities had issued NOC for the construction of new city.

He said the meeting in Islamabad was also attended by Federal Ports and Shipping Minister Babar Ghori, Sindh Chief Minister Arbab Rahim, Chief Secretary Fazlur Rehman, KPT chairman, and representative of Nafeel Development and the Chief Executive of Dubai Islamic Bank.

http://www.dawn.com/2007/02/22/local27.htm

guys this is great news. I tough the cost will be close to $50 billion but it is whopping $68 bn project. Here is the promotional video of Karachi Waterfront Video Link. It will take 10 years to build all this.

Lets just hope the development actually takes place and nothing stupid happens. This is excellent news. Pakistan is in need of a lot of highly skilled labor. Inshallah the whole country will benefit from this project.

Sallam,

Wow!! Masha-Allah this is excellent news for Pakistan. The video is very good. The more publicity this project gets the better it is for Pakistan.

Can't wait for its completion.

Sugar Land City!!! I mean Karachi Corporate Sector or Coastal City would've been great, but "Sugar Land City"

Good news though.

Sugar Land City and Alladin Port! whats next Micky Mouse Town? somebody needs to do something about these names. Whats wrong with Hawks Bay City?

anyway, the video was fantastic, this project is not just about building roads and buildings its a whole lifestyle concept. Imagine how many hundreds of thousands of jobs this will create!

but please someone needs to think up better names.

Micky Mouse Town!! Want to bet that one of the new cities/developments in Baluchistan will go by that name?

Hawks Bay City is an awesome name. IMO I think we should bring back the colonial street names in Karachi, and reserve local names for the new developments. This whole development deserves to be its own city, and Hawks Bay is a good name. My only concern about this development is that we'll see a ton load of Westerners living there and pretty much ruling us over like they do in the Gulf.

Could the name 'sugar land' be a direct translation from urdu? lol... like cheeni zameen or something? or maybe something that sounds half decent?

But either way, i doubt this will be the final name. They'll probably end up calling the place Karachi Waterfront or Hawks Bay.

Nafeel Development of Dubai, he added.

Lol you talk about names .. Nafeel I don't know any such Dubai based company planning to manage a 68 million dollar property .. I suppose it is Nakheel (owners of Palm !) !! Jeez !

But .. if it is Nakheel .. than brothers .. great news .. really something to be proud of ! I mean Emaar at one end and Nakheel at the others, Al Ghurair already inside Islamabad .. Mashallah .. very good news.

I dont know where u got Nafeel from but yeh it is the same company which build the Palm as well as other good projects.

Also for the name isnt it called

KARACHI WATER FRONT. and where did the ppl added SUGAR LAND From. Even the promo is aying Karachi Water Front...

Talking to the journalists here on Wednesday, he referred to a meeting held in this regard in Islamabad. He said the project would cost around 68 billion dollars. The agreement for the water front project would be signed in March with Nafeel Development of Dubai, he added.

1Pakistani .. it is the name which is mentioned by the newspaper!@!

Now what can i say about our wonderful Journalists...

THe real Estate company which is building it is called LIMITLESS and i think it is Subsidery of DUBAI WORLD.....

What's the point of hiring people from abroad?

And, forgive my ignorance, where does the money come from?

To make sure fake engineers from Pakistan don't cheat and eat money.
I would recommend foreign workers as far as Senior Management is concerned

You know about SugarLand? Don't you? It is not that far from you......about 5 hours?

http://www.youtube.com/watch?v=gzWRhoew2vE

What's the point of hiring people from abroad?

And, forgive my ignorance, where does the money come from

The money will be paid by developing the project by the developper. Normally for such projects govt. will allocate land and the developper will have a financial agreement with the govt. in percentage .. normally the country is not going to pay any money !

Generally such projects are on BOO (Built own and operate) or BOT (built own transfer) basis, the third and more suitable way is PPP(public private partnership).

For BOO, the developer would pay the entire price of land, develop it, sell these properties to pubilc, own so me properties and enjoy revenues.

For BOT, developer would invest and develop the land and after certain period of time transfer the entire project to government,

For PPP, government would participate land, developer would invest money, and manage the project, government would share the revenues.

Now, any type of such agreements is thought to be a success, when you are able to convert your less valuable land bank in to a gold mine. Apart from adding huge FDI in to your economy, employments and supporting your local industry for raw material.

In financial world such a project reflects the investor confidence on country by investors and a rapid development without spending anything.

Malaysian model was same, they have develop almost all of their projects without pumping in their revenues, while their own money they diverted to public sector. Shaukat Aziz is working on same model.

Isn't there a neighborhood in Houston, Texas known as Sugarland? I know a number of Pakistani Americans that live their. I wonder if that has anything to do with it.

Isn't there a neighborhood in Houston, Texas known as Sugarland? I know a number of Pakistani Americans that live their. I wonder if that has anything to do with it.


Zpak ... Geez .. you are right ?

http://www.texasexplorer.com/SugarLand.htm

Sugar Land, Texas

Article by Marilyn Lim
Photography by George Hosek

I am a city girl. And like most city girls, I spend a significant amount of time searching for the next best thing to do. My latest discovery? Soaking up upscale, urban living downtown. Downtown Sugar Land, that is.

Now urban and Sugar Land were not always compatible words. Ten years ago, Sugar Land was considered a quaint Houston suburb, more suitable for families and schools than luxury retailers and restaurants.

But a population explosion in the late 1990s paved the way for an edgier and trendier Sugar Land.

Ranked as #1 in growth in the Houston metropolitan area and #1 in growth among the state’s 45 largest cities, the city has worked to provide an increasingly urban atmosphere for its increasing population.

Sugar Land, however, is no stranger to growth and development. The city’s sugar industry began in 1843 with a sugar cane mill which was later expanded into a refinery.

SUGAR LAND CITY sounds like nightmare to diabetic patients. But good news about the project.

Awsome!! very nice MASHALLAH, SUBHANALLAH, MARHABA MARHABA but why sugar land???
why not something traditional or 21st century name?

Here's a treat for you guys!!! watch this video for an idea what Karachi will look like!![i][u]



http://youtube.com/watch?v=gzWRhoew2vE

I pray ..May Allah keep this pace even multiply this pace of Development in Pakistan !! Ameen

I used to say Musharraf will make Pakistan another Malaysia .. he is proving my words !

Investors would flood in Karachi Inshaallah after such dynamic projects and a Pakistani YOUTH leading Karachi as Nazim (Mayor) - Mustafa Kamal !