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Feb 16 2013

Abu Dhabi Group, property tycoon to build world's tallest building in Pakistan

By Staff Abu Dhabi Group, property tycoon to build world's tallest building in Pakistan Photo Credit:Reuters/Faisal Mahmood
Malik Riaz and UAE group to invest $45 billion in Pakistan
UAE's Abu Dhabi Group and Pakistani real estate tycoon Malik Riaz on Friday signed a deal to invest $45 billion (Dh165.15 billion) in Pakistan including building the world's tallest building in Karachi.

Pakistan's news channel Geo reported today that $35 billion (Dh165.15 billion) will be pumped in Sindh province while the rest will be invested in Lahore and Islamabad.

Under the deal, Sports City, International City, Media City, Educational and Medical City will be built in Pakistan's financial capital. The news channel said that world's Seven Wonders will also be built as part of the project.

The deal is expected to generate over 2.5 million jobs in Pakistan.

The channel, however, didn't reveal the time for the completion of the project.

© Emirates 24|7 2013

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