Abu Dhabi firm to build world’s tallest building in Pakistan
ADUG plans to build the world’s tallest building in Karachi
UAE’s Abu Dhabi Group and Pakistani real estate tycoon Malik Riaz signed a deal on Friday to invest $45bn in Pakistan. The plan includes building the world’s tallest building, in Karachi. The deal is expected to generate more than 2.5 million jobs in Pakistan.
The Abu Dhabi United Group for Development and Investment (ADUG), is a United Arab Emirates (UAE) private equity company owned by Sheikh Mansour bin Zayed Al Nahyan. Malik Riaz, is a Pakistani business tycoon and founder/chairman of Bahria Town, Asia’s largest private real estate developers. He is Pakistan’s Twelfth Richest Man with more than $800mn worth of assets.
Pakistan’s news channel Geo reported today that $35bn will be spent in Sindh province, 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 channel, however, didn’t reveal the time for the completion of the project.
The current world’s tallest man-made structure is the 829.8m tall Burj Khalifa in Dubai, UAE. The building gained the official title of ‘Tallest Building in the World’ at its opening on January 4, 2010.
Saudi Arabia’s Kingdom Holding is building the Kingdom Tower in Riyadh, which is set to be the world’s first 1km high building.
