By Naseer Memon
(The News, Political Economy-24th March 2013)
According to newspaper reports, real estate tycoon Malik Riaz’s Bahria Town and a US investment group signed a memorandum of understanding (MoU) for $15 to 20 billion investment on March 11. Under the project, Bahria Town, in collaboration with foreign companies associated with prominent US investor Thomas Kramer, would construct the world’s tallest building and a number of other projects some 3.5 kilometres off the Karachi shore. A spokesman for Bahria Town said the project, the Bodha Island City, would be developed within a period of five to ten years, and that it would comprise Net City, Education City, Health City, Port City and other infrastructure projects. The world’s most modern shopping mall would also be built on the Island City. Continue reading “Islands of prospects”