According to the latest news reports, a Memorandum of Understanding(M.O.U) between Malik Riaz, Pakistani real estate King, and Abu Dhabi group has been signed. As per the understanding, Abu Dhabi group will construct World’s tallest Building in Karachi.
The investment made by Abu Dhabi group is worth 45 Billion dollars of which 10 Billion dollars will be invested in Lahore and Islamabad. According to an estimate, the investment will create job opportunities for 2.5 Million Pakistanis. It is being called the biggest foreign investment in the history of Pakistan.
Under the deal, Sports City, International City, Media City, Educational and Medical City will be built in Pakistan’s financial capital. The private news channel said that world’s Seven Wonders will also be built as part of the project.
Source: Geo News
Updated 22 Feb 2013: Abu Dhabi group in a clarification issued to newspapers, revealed that the group was in talk with Bahria Town Private Limited Pakistan but the deal couldn’t just get finalized. The MOU Signed between the two parties has now also been cancelled.