Thomas Kramer signs $20 billion deal with Bahria Town

Daredevil

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Another scam in Pakistan in the making. It has a very high potential to enter - Pakistani Lies & Denial Thread :D

ISLAMABAD: US real estate tycoon Thomas Kramer and CEO Bahria Town Ahmed Ali Riaz Malik signed a $20 billion agreement for Pakistan's first ever Island City, Bundal & Buddo Islands, Karachi, says a press release.



A joint consortium of international investors will join hands to develop this project and the deal with Thomas Kramer is the first level of this agreement. Announcements of other global investors from Middle East and around the globe will be made soon.



Covering 12,000 acres of land, this project will be developed in a span of 5-10 years but the residential communities will start being handed over to the people in 2016. The global attractions of the project include world's tallest building, world's largest shopping mall, sports city, educational and medical city, international city and a media city, all having the most modern facilities & amenities and the most advanced infrastructure.



Island City will be connected to DHA Karachi via a six-lane modern bridge. The entire city will be a "high security zone", having its own drinking water (converting sea-water into drinking water) and power generation plants to enable it to be self sufficient for power. Moreover, the project will have mosques, cinemas, spas, golf clubs, school, hospital and other global standard amenities to furnish a modern lifestyle.



Thomas Kramer at the occasion said, "I have full confidence in the people and economy of Pakistan. In 1970 when I started my project in Germany it was the worst era of their history. Likewise when Miami Beach project was started, the area was in full control of Cuban criminals, different mafias and gangsters. Dead bodies used to be scattered on the beaches. I completed my projects successfully. Today they are the world's most secure and advanced regions. Current situation in Pakistan is much better than those areas. Further I am confident that this project along with boasting the economy will also eradicate terrorism from Pakistan. This is a once in a lifetime chance to bring Pakistan back on the map to the leading nations in the world."



Speaking at the occasion, current consultant and former chairman of Bahria Town, Malik Riaz Hussain said, "Our slogan is 'Bahria Town Commits – Bahria Town Delivers' and Alhamdulillah we have fulfilled all our promises made with Pakistan and Pakistanis. We know that the construction sector has played a key role in transforming the USA, Malaysia, Japan, Turkey and Germany into developed nations. In the same manner, Insha Allah, Pakistan will also become a developed nation, which is our vision. This project will not only provide 2.5 million jobs but will help revive 55 national industries and provide housing to 1 million Pakistanis. It will also help eliminate terrorism and crimes."



Thomas Kramer is a visionary businessman commonly known as TK. He surveyed an island hideout of Cuban pirates in 1991-92 and later on developed it into the present day Miami Beach, which is one of the biggest international tourist destinations of today. He is specialist and well known for building skyscrapers in coastal areas. His company has successfully constructed several projects around the globe.



Bahria Town's spokesman said that it's an honor to join hands with such a visionary developer of Kramer's caliber.



Online adds: Malik Riaz said that if he is given a chance he would turn Pakistan into Dubai and Europe. He said, "We would continue to invest in Pakistan despite all odds and we are in talks with foreign investors."



Malik Riaz said that he promises the nation that in next few years he would bring foreign investment worth more than Rs50 billion and no one can stop it. He said that until children are given quality education, Pakistan cannot excel.
http://www.thenews.com.pk/Todays-News-13-21538-Thomas-Kramer-signs-$20-billion-deal-with-Bahria-Town
 

Agnostic Muslim

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Like I said elsewhere, this needs to be ignored until we see the blueprints and construction actually starts.
 

Yusuf

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Mr Kramer either loves Pakistan too much and Karachi in particular or doesn't like his money too much. 20 billion in total!

No I cannot believe someone will invest in a "Dubai" style project in a country where bombs explode every day.
 

Agnostic Muslim

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Mr Kramer either loves Pakistan too much and Karachi in particular or doesn't like his money too much. 20 billion in total!

No I cannot believe someone will invest in a "Dubai" style project in a country where bombs explode every day.
'Bombs exploding every day' is a misleading generalization.

There are wide swathes of the country (especially those inhabited by high income sections of society) that are quite stable and conducive to development.

Malik Sahib just has to ensure that a few high level properties are provided to influential political parties such as the MQM, PPP, ANP etc. to ensure that they keep their ethnic and sectarian violence out of his real estate projects.

In terms of foreign investment in such a large real estate project (and please correct me if I am wrong since I am no expert on real estate investments) return on investment should be easy enough to calculate given current demand for housing in the income groups the project will cater to.
 

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Known_Unknown

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Covering 12,000 acres of land, this project will be developed in a span of 5-10 years but the residential communities will start being handed over to the people in 2016. The global attractions of the project include world's tallest building, world's largest shopping mall, sports city, educational and medical city, international city and a media city, all having the most modern facilities & amenities and the most advanced infrastructure.



Island City will be connected to DHA Karachi via a six-lane modern bridge. The entire city will be a "high security zone", having its own drinking water (converting sea-water into drinking water) and power generation plants to enable it to be self sufficient for power. Moreover, the project will have mosques, cinemas, spas, golf clubs, school, hospital and other global standard amenities to furnish a modern lifestyle.
What hogwash! :lol:

Did he forget he was actually talking about Pakistan here? :pound:

Lastly, does anyone see how easy it would be to take the entire "city" hostage?!! A terrorist's wet dream! :D
 

Agnostic Muslim

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Lastly, does anyone see how easy it would be to take the entire "city" hostage?!! A terrorist's wet dream! :D
By doing what? Taking over the bridge?

That would be an endeavor doomed to failure given that the terrorists would not be able to hold onto any open fixed position like a bridge for very long in the face of an assault by law enforcement.
 

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By doing what? Taking over the bridge?

That would be an endeavor doomed to failure given that the terrorists would not be able to hold onto any open fixed position like a bridge for very long in the face of an assault by law enforcement.
Why would a terrorist want to take over a bridge? C'mon, you're a Pakistani, I'm sure you share the same force of intellect as your compatriots from the LeT, HuM or TTP. :rolleyes:
 

Agnostic Muslim

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Why would a terrorist want to take over a bridge? C'mon, you're a Pakistani, I'm sure you share the same force of intellect as your compatriots from the LeT, HuM or TTP. :rolleyes:
So please explain how exactly this particular real estate development would be a 'terrorist's wet dream' compared to any other.
 

Blackwater

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Mr Kramer either loves Pakistan too much and Karachi in particular or doesn't like his money too much. 20 billion in total!

No I cannot believe someone will invest in a "Dubai" style project in a country where bombs explode every day.

I think americans want to send Raymond Davis type operatives in pak in disguise of engineer and staff
 

Known_Unknown

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So please explain how exactly this particular real estate development would be a 'terrorist's wet dream' compared to any other.
Since it will be realized in Terroristan, I don't feel like spoiling this wet dream..... :D

I'm sure though that if the project progresses any further, your compatriots may already have started working on their plans. :p

Hint: Bridges aren't meant to be held. ;)
 
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Agnostic Muslim

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Since it will be realized in Terroristan, I don't feel like spoiling this wet dream..... :D

I'm sure though that if the project progresses any further, your compatriots may already have started working on their plans. :p

Hint: Bridges aren't meant to be held. ;)
How much explosive power do you think would be needed to take down a massive six lane concrete and steel bridge?

Hint: Try and think about it outside of 'wet dreams'...
 

Known_Unknown

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How much explosive power do you think would be needed to take down a massive six lane concrete and steel bridge?

Hint: Try and think about it outside of 'wet dreams'...
All they need to do is blow a big enough hole in it to stop traffic and movement of military vehicles. They don't need to take down the whole bridge.

Look at the devastation caused by the bombing of the ISI HQ or the Marriott Hotel.

Sheesh, did you not watch the latest Batman movie? It's almost exactly the same scenario. Here's a steel and concrete bridge demolition for you:

 
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Yusuf

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'Bombs exploding every day' is a misleading generalization.

There are wide swathes of the country (especially those inhabited by high income sections of society) that are quite stable and conducive to development.

Malik Sahib just has to ensure that a few high level properties are provided to influential political parties such as the MQM, PPP, ANP etc. to ensure that they keep their ethnic and sectarian violence out of his real estate projects.

In terms of foreign investment in such a large real estate project (and please correct me if I am wrong since I am no expert on real estate investments) return on investment should be easy enough to calculate given current demand for housing in the income groups the project will cater to.
Investments need conducive environment in general not just a pocket. Besides that, you will need hundreds of millionaires to lap up the housing project and shoppers with deep pockets to keep the biggest mall in the world going. Investment is all about sentiments. People don't invest in troubled areas. That's the general thought. If Mr Kramer is really intrested then all the best to him. But really he would find more value for money and better returns for $20billion outside Pakistan. I am just wondering what made him chose Pakistan.
 

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Now it sounds somewhat believable, at least theoretically. The figures might be inflated but keeping aside propaganda of creating jobs, reviving economy etc before elections; the basic idea seems to be developing a residential suburb on an island but still inside Karachi. We have builders developing gated residential townships. They are doing the same thing on larger scale. This Thomas Kramer guy need not invest all big money. He could be a convenient face for investment which could well come from Swiss banks accounts of Pakistani politicians. I mean if this Riaz Malik is like the SAHARA and if he can convince major political parties and generals to invest their black money in his project he can grab land at cheap price, forget about environmental regulations, and get all permissions quickly. As for commercial viability, for a country of 20 crore and city of 2 crore, getting 2 lac rich/upper middle class buyers (they said it will accommodate 10 lac people) should not be difficult considering it can give feeling of 'security' for a family inside an insecure city. Like the futuristic Hollywood movies where rich people live in separate self sufficient district, never coming in contact with common people.
If I was a rich or upper middle class family man in a city like Karachi, with no hope of escaping to US or Europe, I would prefer to keep my family on such island suburb where they can enjoy 'modern' living and be safe while I go to work in the main city. I get a safe home and the investors get high returns on their money.
 
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farhan_9909

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whether the news is true or false.

But indians.......................... :tsk:
 

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Investments need conducive environment in general not just a pocket. Besides that, you will need hundreds of millionaires to lap up the housing project and shoppers with deep pockets to keep the biggest mall in the world going. Investment is all about sentiments. People don't invest in troubled areas. That's the general thought. If Mr Kramer is really intrested then all the best to him. But really he would find more value for money and better returns for $20billion outside Pakistan. I am just wondering what made him chose Pakistan.
Nothing made him choose Pakistan. This will find its way into the "Pakistani lies and denial thread" very very soon. :tsk:

You can see that even hardcore Pakistanis like Farhaan doubt their own country's "positive news" now, going by his post above: "whether the news is true or false". :lol:
 

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