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Emaar Pakistan, Paragon Constructors sign Rs1.5bn contract - Lahore_Real_Estate - 07-05-2010 01:42 PM
KARACHI: Emaar Pakistan, the subsidiary of global property developer Emaar Properties PJSC, signed Rs1.5 billion contract with Paragon Constructors for the construction of mega structures in Crescent Bay in Karachi, a statement said.
The contract, which involves enormous construction and uplift work to be carried out in the 108 acres Crescent Bay, was signed by Emaar Regional CEO Dr Dia Malaeb and Aftab Siddiqui, Managing Director, Paragon, on Friday.
The scope of the contract covers all works related to the construction of the Core and Shell Structural Works, including embedded MEP items, masonry and plaster works for the high rise towers comprising two levels of basement, two levels of podium above ground, two towers, retail shops and townhouses, located at the Crescent Bay Development Project, DHA, Karachi.
The amount of contract is exclusive of the already awarded and completed works with regard to Pile Caps, Slab on Grade and Raft Foundation.
Matt Cronje, General Manager, Emaar Pakistan, said that the Crescent Bay development project was planned to enhance the Karachi skyline by providing a unique and quality residential, commercial and retail community in an exclusive area of the city.
Emaar is leading a trail of successes not only in Pakistan, but elsewhere, as well with building monuments such as Burj Khalifa, the tallest tower in the world and The Dubai Mall, the largest shopping and entertainment destination in the world, he added.