World’s tallest building to be built in Karachi

* Malik Riaz signs agreement with Abu Dhabi Group for $45 billion construction projects

ABU DHABI: Real estate magnate Malik Riaz Hussain has signed an agreement with Chairman of the Abu Dhabi Group, Union National Bank and United Bank Limited Nahyan bin Mubarak Al Nahyan, under which $45 billion will be invested in Pakistan for various construction projects, including contraction of the world’s tallest building in Karachi.

It would be the biggest and historical investment in Pakistan. The Abu Dhabi Group has previously made huge and successful investments in country with the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom. Out of the total investment, $10 billion will be invested in Islamabad and Lahore, whereas $35 billion investment would be made in Sindh.  Continue reading