Islamabad, Pakistan, August 25, 2006: Emaar Pakistan, the country-arm of global real estate major Emaar Properties, has rolled out its first master-planned community in Pakistan, the Canyon Views.
A mixed-use development integrating residential, commercial, leisure and retail components, Canyon Views is located within the DHAI Phase 2 extension in Islamabad, the capital city.
“Canyon Views is the first of three projects of development value PKR145 billion (US$2.4 billion) announced by Emaar in the country,” said Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan. “Emaar is also developing the Highlands in Islamabad and Crescent Bay in Karachi apart from having signed a Memorandum of Understanding with the Port Qasim Authority to develop a mixed-use project in Karachi.”
To spread over 100 acres, Canyon Views is an inimitable residential neighbourhood that features retail outlets, community club houses, parks, lakes, boulevards, schools and mosques. “With Canyon Views, we are building on our hugely successful model of master-planned communities in Dubai, where we have already handed over 14,000 homes,” said Mr Al-Falasi.
Canyon Views will offer luxury single-family town homes and villas in a range of architectural styles. The homes are spacious and have high quality finishes. Superior fittings are standard for bathrooms and kitchens.
“To give a unique identity to the vast neighbourhood, Canyon Views will have separate community districts that derive individuality through varying architectural styles,” said Al-Falasi. “The villas will be of Mediterranean, Tuscan, Mughal, Arab or Spanish style with distinctive arches, gateways and frills to lend character.”
WATG are the master-planners of Canyon Views. The architects are Mazen N. Issa, Alexander Hayes, Bassenian Lagoni and Saunders & Wiant. “Canyon Views is scheduled to complete in five years and will meet the demand for world-class residential units from the young, upwardly mobile population of Pakistan,” added Al-Falasi.
Emaar’s Pakistan development initiatives are in line with the company’s Vision 2010 of becoming one of the world’s most valuable companies through focused expansion and diversification. “Pakistan is a key market in Emaar’s international expansion plans,” said Al-Falasi. “The country has one of the fastest growing economies in the region and its potential remains under-utilized.”
Emaar had strengthened its international presence recently with the acquisition of John Laing Homes, the second largest privately held homebuilder in the US; and Hamptons International, a premier UK realtor. The company is also opening a full-fledged representative office in China, and has unveiled prestigious projects in Saudi Arabia, Morocco, Egypt, Tunisia, Turkey, Syria and India.
