Crescent Bay is a 108-acre (440,000 m2) under-construction upscalemixed-useoceanfront development in Defence, Karachi, Pakistan consisting of 50 towers. It is a joint venture by EMAAR and Giga Group.[1] Land reclamation on the project was completed by Mazyood Giga International, a subsidiary of Giga Group, with the help of Halcrow Consultants.
Emaar Pakistan - Official website Giga Group of Companies - Official website
The development features 50 high and mid-rise towers for residential and commercial use, a shopping centre, a five-star beachfront hotel and a tower located in the middle of the project. The development includes approximately 4,000 residential apartments. Begun on May 31, 2006, when completed the development would be the first development with a private beach and also the first based on reclaimed land.[2]
Even though the development sold out in 2008,[3] it faced significant delays, initially due to the liquidity crisis faced by Emaar Properties following the 2008 financial crisis. Later, due to a legal battle with DHA Ltd allegedly for breach of contract.[4] The construction resumed in 2015 and is contracted to NESPAK. As of 2022, 38-storey Coral Tower (2 towers), Pearl Tower (3 towers) and Reef Tower (2 Towers) are complete. As of 2022, Residential properties are priced from 300,000$ to 600,000$.[5][6]
crescent, karachi, crescent, acre, under, construction, upscale, mixed, oceanfront, development, defence, karachi, pakistan, consisting, towers, joint, venture, emaar, giga, group, land, reclamation, project, completed, mazyood, giga, international, subsidiary. Crescent Bay is a 108 acre 440 000 m2 under construction upscale mixed use oceanfront development in Defence Karachi Pakistan consisting of 50 towers It is a joint venture by EMAAR and Giga Group 1 Land reclamation on the project was completed by Mazyood Giga International a subsidiary of Giga Group with the help of Halcrow Consultants Crescent BayCrescent Bay as of 2022General informationStatusUnder constructionTypeResidentialCommercialRetailLocationKarachi PakistanConstruction started2006Estimated completion2050Cost 2 4 billionManagementHill InternationalDesign and constructionDeveloperEmaar Properties Giga Group of CompaniesReferencesEmaar Pakistan Official website Giga Group of Companies Official websiteThe development features 50 high and mid rise towers for residential and commercial use a shopping centre a five star beachfront hotel and a tower located in the middle of the project The development includes approximately 4 000 residential apartments Begun on May 31 2006 when completed the development would be the first development with a private beach and also the first based on reclaimed land 2 Even though the development sold out in 2008 3 it faced significant delays initially due to the liquidity crisis faced by Emaar Properties following the 2008 financial crisis Later due to a legal battle with DHA Ltd allegedly for breach of contract 4 The construction resumed in 2015 and is contracted to NESPAK As of 2022 38 storey Coral Tower 2 towers Pearl Tower 3 towers and Reef Tower 2 Towers are complete As of 2022 Residential properties are priced from 300 000 to 600 000 5 6 See also editDefence Housing Authority Emaar PakistanReferences edit Press Release Blessing Shaikh Noori visits Crescent Bay Express Tribune Express Tribune Retrieved 19 February 2014 Emaar seeks more time in Crescent Bay case The Express Tribune The Express Tribune 2011 07 12 Retrieved 2016 06 13 Haq s Musings Emaar s Crescent Bay Project Sold Out in Karachi www riazhaq com Retrieved 2016 06 13 DHA takes over Crescent Bay project on the rocks The Express Tribune The Express Tribune 2011 07 07 Retrieved 2016 06 13 NESPAK News Detail www nespak com pk Archived from the original on 2016 08 10 Retrieved 2016 06 13 EMAAR Pakistan www emaar com Retrieved 2016 06 13 External links edit 1 Official Website Pakistan Defence Officers Housing Authority Retrieved from https en wikipedia org w index php title Crescent Bay Karachi amp oldid 1148939022, wikipedia, wiki, book, books, library,
