Infrastructure Development in Pakistan
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Edevelop
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PM Nawaz inaugurates country's largest oil refinery in Hub
PM terms the setting up of oil refinery in Balochistan an important milestone. —DawnNews screengrab
KARACHI: Prime Minister Nawaz Sharif on Friday inaugurated Byco Oil Refinery, the country's largest oil refinery, in Balochistan's Hub region.
The premier was received in Karachi earlier on Friday morning by Sindh Chief Minister Qaim Ali Shah before he departed for Hub to attend the ceremony.
Balochistan Chief Minister Dr Abdul Malik Baloch, Senator Saleem Mandviwalla and Balochistan's Senior Minister and provincial President of the Pakistan Muslim League - Nawaz (PML-N) Sanaullah Zehri were also present in the ceremony.
Speaking on the occasion, the prime minister termed the set up of oil refinery in Balochistan an "important milestone".
He said the oil refinery will lead to economic development in the province and provide employment opportunities to the citizens. The premier said oil and gas are the most important of all natural resources.
He said some $750 million will be invested in the second phase of the oil refinery project, adding that 22 million tonnes of oil was currently being used in the country.
He said the oil refinery will help reduce country’s dependence on the import of petroleum products by over 50 per cent.
"It will take time to reach the level of self-sufficiency."
The prime minister said Gwadar would be made the first free-port of Pakistan which would be connected with Central Asia.
He said work on the motorway from Gwadar to Quetta and onward to Ratto Dero is underway.
He further said the government will overcome the power shortages in the country by 2017, said a report published on Radio Pakistan.
Many power projects are underway in the power sector, he said.
The premier said coal power plants are being established in Thar while another power plant with a capacity of 1,320 MW electricity is also being established at Port Qasim.
Nawaz said solar-based power projects are also being set up that will help to overcome the power shortage in the country.
Later in the day, the prime minister will attend a meeting in Karachi to review the city’s law and order situation.
Culture of strikes in Karachi should be discouraged, says PM Nawaz - Pakistan - DAWN.COM
PM terms the setting up of oil refinery in Balochistan an important milestone. —DawnNews screengrab
KARACHI: Prime Minister Nawaz Sharif on Friday inaugurated Byco Oil Refinery, the country's largest oil refinery, in Balochistan's Hub region.
The premier was received in Karachi earlier on Friday morning by Sindh Chief Minister Qaim Ali Shah before he departed for Hub to attend the ceremony.
Balochistan Chief Minister Dr Abdul Malik Baloch, Senator Saleem Mandviwalla and Balochistan's Senior Minister and provincial President of the Pakistan Muslim League - Nawaz (PML-N) Sanaullah Zehri were also present in the ceremony.
Speaking on the occasion, the prime minister termed the set up of oil refinery in Balochistan an "important milestone".
He said the oil refinery will lead to economic development in the province and provide employment opportunities to the citizens. The premier said oil and gas are the most important of all natural resources.
He said some $750 million will be invested in the second phase of the oil refinery project, adding that 22 million tonnes of oil was currently being used in the country.
He said the oil refinery will help reduce country’s dependence on the import of petroleum products by over 50 per cent.
"It will take time to reach the level of self-sufficiency."
The prime minister said Gwadar would be made the first free-port of Pakistan which would be connected with Central Asia.
He said work on the motorway from Gwadar to Quetta and onward to Ratto Dero is underway.
He further said the government will overcome the power shortages in the country by 2017, said a report published on Radio Pakistan.
Many power projects are underway in the power sector, he said.
The premier said coal power plants are being established in Thar while another power plant with a capacity of 1,320 MW electricity is also being established at Port Qasim.
Nawaz said solar-based power projects are also being set up that will help to overcome the power shortage in the country.
Later in the day, the prime minister will attend a meeting in Karachi to review the city’s law and order situation.
Culture of strikes in Karachi should be discouraged, says PM Nawaz - Pakistan - DAWN.COM
Winchester
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Edevelop
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Yes Phase 1 of 100 MW is. Next phase of 900 MW is under development and will come to national grid after 1-2 years.
WaLeEdK2
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Imran khan is going to lose so much popularity once all these projects are finished by 2017. He won't have much to complain about since there will be more MW on the national grid.PM Nawaz inaugurates country's largest oil refinery in Hub
PM terms the setting up of oil refinery in Balochistan an important milestone. —DawnNews screengrab
KARACHI: Prime Minister Nawaz Sharif on Friday inaugurated Byco Oil Refinery, the country's largest oil refinery, in Balochistan's Hub region.
The premier was received in Karachi earlier on Friday morning by Sindh Chief Minister Qaim Ali Shah before he departed for Hub to attend the ceremony.
Balochistan Chief Minister Dr Abdul Malik Baloch, Senator Saleem Mandviwalla and Balochistan's Senior Minister and provincial President of the Pakistan Muslim League - Nawaz (PML-N) Sanaullah Zehri were also present in the ceremony.
Speaking on the occasion, the prime minister termed the set up of oil refinery in Balochistan an "important milestone".
He said the oil refinery will lead to economic development in the province and provide employment opportunities to the citizens. The premier said oil and gas are the most important of all natural resources.
He said some $750 million will be invested in the second phase of the oil refinery project, adding that 22 million tonnes of oil was currently being used in the country.
He said the oil refinery will help reduce country’s dependence on the import of petroleum products by over 50 per cent.
"It will take time to reach the level of self-sufficiency."
The prime minister said Gwadar would be made the first free-port of Pakistan which would be connected with Central Asia.
He said work on the motorway from Gwadar to Quetta and onward to Ratto Dero is underway.
He further said the government will overcome the power shortages in the country by 2017, said a report published on Radio Pakistan.
Many power projects are underway in the power sector, he said.
The premier said coal power plants are being established in Thar while another power plant with a capacity of 1,320 MW electricity is also being established at Port Qasim.
Nawaz said solar-based power projects are also being set up that will help to overcome the power shortage in the country.
Later in the day, the prime minister will attend a meeting in Karachi to review the city’s law and order situation.
Culture of strikes in Karachi should be discouraged, says PM Nawaz - Pakistan - DAWN.COM
Edevelop
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Investors Flock to Pakistan’s First Real Estate Investment Trust
Investors piled into Pakistan’s first real-estate investment trust, which was launched this week with a public offer that was heavily over-subscribed, the REIT’s lead manager and analysts said on Thursday.
The Dolmen City REIT offered investors a 25% stake in a 22.24 billion rupee ($218.5 million) shopping mall and an office complex at Dolmen City, one of the most prominent real estate developments in Karachi, Pakistan’s largest city and its economic hub. The Arabian Sea-front project includes three other structures not included in the REIT.
Traders and the REIT’s main advisor said the initial offer for 75% of the trust to institutional investors and high net-worth individuals through bookbuilding on Monday and Tuesday drew demand of more than 7 billion rupees for an offering of shares worth 4.17 billion rupees at a floor price of 10 Pakistani rupees ($0.10). At the strike price, the initial offer raised 4.59 billion rupees, according to the REIT’s lead manager.
The remaining 25% of the stake was to be offered to the public on Friday at a strike price of 11 rupees ($0.11). Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another 1.53 billion rupees.
“The interest rate is at a 42-year low, with the discount rate at 7%, so for people who invest in fixed-income instruments, REITs are attractive,” said Muhammad Tahir Saeed, deputy head of research at Topline Securities, a Karachi-based brokerage.
Pakistan’s economy has improved in recent years, despite political turmoil, major security challenges, and chronic electricity shortages that have hobbled industry. The country’s main stock market in Karachi has gained 72% since the 2013 election and the country’s improving prospects are increasingly being recognized internationally. Prime Minister Nawaz Sharif’s government has said boosting investment is one of its key economic objectives.
Dolmen Mall Clifton, Pakistan’s largest shopping mall.
Dolmen Group
With both buildings in the Dolmen City REIT fully occupied, it is expected to yield 9.5% in the first year, with a 10% increase every year based on escalation clauses in tenancy agreements. The development is located next to two of Karachi’s most affluent residential areas.
The Dolmen Mall Clifton, Pakistan’s largest shopping mall, currently has an occupancy rate of over 90%, according to a fact sheet provided by the REIT management. The mall has 130 stores, including foreign outlets such as Debenhams DEB.LN -1.13%, and a multi-level department store.
The neighboring Harbour Front office complex is currently fully occupied, with several high-profile tenants like Procter & Gamble and Engro, one of Pakistan’s largest corporations.
Pakistan’s commercial property sector was described in a first-quarter report this year by Lamudi Pakistan, an online real estate portal, as “almost at a standstill”. But analysts said investors in Pakistan are still keen on real estate as a long-term asset, particularly in properties such as Dolmen City’s Harbour Front with high-profile corporate tenants.
“In the long term there are significant opportunities as prices are low, meaning potential yields are high, and there is considerable room to expand and modernize Pakistan’s stock of commercial real estate,” BMI Research said in a report on the country’s real estate sector earlier this year.
Analysts said the success of the Dolmen City REIT could boost interest in the instrument.
“People were looking at Dolmen and expecting that, if it succeeds, many REITs will be launched in the coming years [in Pakistan],” said Saeed of Topline Securities. “I can foresee some groups [developing shopping malls] jumping into this asset class.”
Bahria Icon Tower
Highrises U/C in Karachi
The Arkadians
Investors piled into Pakistan’s first real-estate investment trust, which was launched this week with a public offer that was heavily over-subscribed, the REIT’s lead manager and analysts said on Thursday.
The Dolmen City REIT offered investors a 25% stake in a 22.24 billion rupee ($218.5 million) shopping mall and an office complex at Dolmen City, one of the most prominent real estate developments in Karachi, Pakistan’s largest city and its economic hub. The Arabian Sea-front project includes three other structures not included in the REIT.
Traders and the REIT’s main advisor said the initial offer for 75% of the trust to institutional investors and high net-worth individuals through bookbuilding on Monday and Tuesday drew demand of more than 7 billion rupees for an offering of shares worth 4.17 billion rupees at a floor price of 10 Pakistani rupees ($0.10). At the strike price, the initial offer raised 4.59 billion rupees, according to the REIT’s lead manager.
The remaining 25% of the stake was to be offered to the public on Friday at a strike price of 11 rupees ($0.11). Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another 1.53 billion rupees.
“The interest rate is at a 42-year low, with the discount rate at 7%, so for people who invest in fixed-income instruments, REITs are attractive,” said Muhammad Tahir Saeed, deputy head of research at Topline Securities, a Karachi-based brokerage.
Pakistan’s economy has improved in recent years, despite political turmoil, major security challenges, and chronic electricity shortages that have hobbled industry. The country’s main stock market in Karachi has gained 72% since the 2013 election and the country’s improving prospects are increasingly being recognized internationally. Prime Minister Nawaz Sharif’s government has said boosting investment is one of its key economic objectives.
Dolmen Mall Clifton, Pakistan’s largest shopping mall.
Dolmen Group
With both buildings in the Dolmen City REIT fully occupied, it is expected to yield 9.5% in the first year, with a 10% increase every year based on escalation clauses in tenancy agreements. The development is located next to two of Karachi’s most affluent residential areas.
The Dolmen Mall Clifton, Pakistan’s largest shopping mall, currently has an occupancy rate of over 90%, according to a fact sheet provided by the REIT management. The mall has 130 stores, including foreign outlets such as Debenhams DEB.LN -1.13%, and a multi-level department store.
The neighboring Harbour Front office complex is currently fully occupied, with several high-profile tenants like Procter & Gamble and Engro, one of Pakistan’s largest corporations.
Pakistan’s commercial property sector was described in a first-quarter report this year by Lamudi Pakistan, an online real estate portal, as “almost at a standstill”. But analysts said investors in Pakistan are still keen on real estate as a long-term asset, particularly in properties such as Dolmen City’s Harbour Front with high-profile corporate tenants.
“In the long term there are significant opportunities as prices are low, meaning potential yields are high, and there is considerable room to expand and modernize Pakistan’s stock of commercial real estate,” BMI Research said in a report on the country’s real estate sector earlier this year.
Analysts said the success of the Dolmen City REIT could boost interest in the instrument.
“People were looking at Dolmen and expecting that, if it succeeds, many REITs will be launched in the coming years [in Pakistan],” said Saeed of Topline Securities. “I can foresee some groups [developing shopping malls] jumping into this asset class.”
Bahria Icon Tower
Highrises U/C in Karachi
The Arkadians
Sulman Badshah
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..........before...................
...
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didn't go after the metro bus at mahreer chowk ...
but before at peak hours it was really suck up chowk ... you just needed atleast 30 min to cross 1 km of road
ghazi52
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Construction work has been sped up at 144 km Kachi Canal KC-5 in Punjab-Balochistan border area.
..................................................
. All set for the celebrations..
. . .
Construction work has been sped up at 144 km Kachi Canal KC-5 in Punjab-Balochistan border area.
..................................................
. All set for the celebrations..
Sulman Badshah
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Such a shame to our leaders .. this is the most important project that can irrigate more than 700000 acres
started in 2002 and yet it is under construction
it should have been completed within 5 years of time
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