Islamabad, Pakistan, December 7, 2007: Emaar Pakistan, a subsidiary of global property developer Emaar Properties PJSC, will start sales registration for its first master-planned community in Karachi – Crescent Bay - from December 9, 2007. Potential investors can register for residential apartments at the Emaar Pakistan sales offices in DHA Karachi, Canyon Views Sales Centre in Islamabad and Emaar’s Downtown Burj Dubai Sales Centre in Dubai.
Crescent Bay is part of a multi-billion dollar investment by Emaar in Pakistan for creating world-class mixed-use communities that will energise the local economy and create employment opportunities. Emaar is developing the Highlands and Canyon Views in Islamabad, and Crescent Bay in Karachi. Canyon Views villas and town homes project were launched last year and received overwhelming investor response.
Located in Karachi’s DHA Phase 8 and in close proximity to the DHA golf course, Crescent Bay is a 108-acre development featuring high- and mid-rise towers for residential and commercial use, a shopping centre and a 5 star beachfront hotel. The project – to be completed in five to six years - will have 34 high-rise residential towers. International master-planners and architects are working with renowned local contractors on the project.
Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan, said: “Emaar is introducing a new concept in modern living with our master-planned projects, and we have already gained strong investor support with the launch of Canyon Views in Islamabad. Crescent Bay will introduce the same luxury standards to Karachi, and will be a truly integrated lifestyle destination.”
He added: “Sales registration for residential apartments will open on December 9, and potential investors will have the first right to choose their home. We are putting in place these norms to meet the strong investor response that is anticipated and give all investors equal opportunity to make their purchases.”
The official launch of sales will be announced at a later stage, and registered buyers will be invited in pre-scheduled batches for easy conduct of the sales process.
Crescent Bay is easily accessible from downtown Karachi and the city’s central business district. The project will feature an array of amenities including a full-fledged commercial area, swimming pool, fitness centres, sports facilities, parks and children’s play areas.
Emaar’s expansion into Pakistan is in line with its Vision 2010 to become one of the most valuable companies in the world.
