The Gentrification of Karachi’s Coastline
Appendix – 1: Developers Interested and/or Involved with the Waterfront Projects
1. Emaar
Introduction:
- Emaar is a Dubai-based Public Joint Stock Company
- It is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index
- It has highlighted the remarkable global growth of the company by debuting on the 2007 Financial Times Global 500 ranking
- One of the world’s largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles
Financial Turnover:
- growth rate of 35% in annual profit for 2006 compared to 2005
- annual net profit of US $1.735 billion compared to US $1.288 billion in 2005
- annual revenue increased by 68 % from US $2.276 billion to US $ 3.813 billion
Aim:
From property development, it intends to expand further (retail, health, education, finance) to become one of the “world’s most valuable companies in less than five years” and a “non-stop, global solution provider”.
Corporate Mission:
EMAAR being synonymous to “Quality lifestyle across the globe”.
Links to Pakistan:
In May 2006 Emaar announced three real estate developments in the cities of Islamabad and Karachi in Pakistan, all of which are expected to be completed in the next 4 to 5 years. The projects with a total investment of US$ 2.4 billion will include a series of master planned communities that will set new standards in commercial, residential and retail property within Pakistan
The Highlands and Canyon Views, Islamabad:
- Canyon Views is a 1000 acres project
- Emaar has planned approximately 4500 units; 2650 Townhouses & Villas and 1850 units in mid rise buildings in a range of architectural styles with easy access to amenities including retail centres, community club houses, parks, lakes, schools and mosques
- The Highlands development is located within the Defence Housing Authority Islamabad (DHAI) Phase 1 extension and Canyon Views within the DHAI Phase 2 extension
- Offering 50 separate community districts with their own individual identity, a spectrum of architectural styles ranging from Mediterranean, Tuscan, Mughal, Arabic and Spanish, will be available to select from
Crescent Bay, Karachi:
- A 108 acres of reclaimed land development featuring high and mid-rise towers for residential (4,000 residential apartments) and commercial use, a shopping centre and five star beachfront hotel
- Crescent Bay is located within Karachi’s DHA Phase 8 and in close proximity to the DHA golf course. It will offer individual architectural styles for each tower within the development
Credentials and Undergoing Projects:
India: Mohali Hills (Villas, Views and central plaza at Mohali Hills), Palm Springs, Palm Square, Palm Drive, Esplanade, Boulder Hills
Jordan: Samarah, Dead Sea Golf and Beach Resort
Saudi Arabia: Abraj Al Hilal, Jeddah Hills, Jeddah Gate, King Abdullah Economic city
Egypt: Uptown Cairo, Marassi, Cairo Gate, New Cairo City
Morocco: Tinja, Bahia Bay, Amelkis II, Oukaimeden, Saphira
Syria: Eighth Gate
Tunisia: Marina Al Qussor
Turkey: Tuscan Valley, Istanbul
UAE: Arabian Ranches, Downtown Burj Dubai, Dubai Marina, Emaar Golf Homes, Emaar Towers, Emirates Hills, The Greens, The Lakes, The Meadows, The Springs, The Views, Umm Al Quwain Marina
Contact Information:
Emaar Properties PJSC
P.O.Box 9440
Dubai
United Arab Emirates
Head Office:
Emaar Business Park, Building 3
Tel +971 4 367 3333
Fax +971 4 367 3000
Email enquiry@emaar.ae
Emaar Contact Center:
UAE (Toll Free) 800-Emaar (800-36227)
International +971 4 366 1688
Fax +971 4 366 1600
Email customercare@emaar.ae
Website: www.emaar.com
2. Limitless
Introduction:
- Limitless is an integrated Real Estate Development company and is a business unit of Dubai World, one of Dubai’s leading business groups
- Limitless was set up in July 2005, with the key objective of diversifying and globalizing Dubai’s portfolio of leading development companies by leveraging the know-how and exposure gained by Dubai World’s real estate initiatives
- Limitless plans on partnering with leading providers of real estate services including asset, property and facility management companies, therefore enabling Limitless to offer an integrated development value proposition to its customers
Vision:
“To be a leading global real estate developer across market segments, delivering distinctive and sustainable developments.”
Real Estate Development Philosophy:
- Developing innovative (distinct) and insightful ways to fulfill user needs
- Demonstrating unique expertise in executing our projects
- Consistently delivering projects on time and budget
- Providing unique investment opportunities to investors
- Providing a distinctive platform for association to our business partners
Credentials:
- The Palm Jumeirah
- The World
- Jumeira Islands
Ongoing Projects:
- Downtown Jebel Ali, Dubai
- Arabian Canal, Dubai
- Al Wasl, Riyadh, Saudi Arabia
- Halong Star, Halong Bay, Vietnam
- Bidadi, Bangalore, India
Contact Information:
Mailing Address:
P.O. Box 261919
Dubai – UAE
Contact Number
Tel: +971 4 360 1818
Fax: +971 4 360 1819
General Inquiries
Email: info@limitless.ae
Website: www.limitless.ae
