ARY Group and Bahria Town Sign Agreement to Build ARY Residencia Karachi
ARY Group and Bahria Town signed an agreement on Wednesday in Dubai to launch “ARY Residencia Karachi“. The agreement was signed between ARY Group Chairman Mr. Haji Iqbal and Bahria Town Country Head Mr. Shahid Mehmood Qureshi in presence of Bahria Town Chairman Mr. Malik Riaz Hussain.
According to the available information, ARY Residencia will feature a gated housing community with 300 villas, masjid, school and a hospital. The project also features an international cricket stadium having capacity of 50,000 people.
On this Occassion, Mr. Haji Iqbal said:
We have been a client of Bahria Town since their first project and we have a longstanding relationship. We used to think if we would ever see high standards of development in Pakistan like we see in Dubai. But after we have seen the quality of development in Bahria Town Karachi, we can say that Pakistan too has begun such high standard development projects.
Mr. Malik Riaz Hussain expressed his joy in the following words:
May Allah make this joint venture successful and may this joint venture augur well for ARY and Bahria Town. We wish to outdo our own development standards in this project.
Mr. Shahid Mehmood Qureshi expressed his views and said:
This is the first time in the history of Bahria Town that any private investor has joined hands with Bahria Town for a development project.
According to the available information, ARY Residencia is expected to be located in Precinct 34 of Bahria Sports City Karachi which lies close to Rafi Cricket Stadium. The project will comprise 200 SQY luxury villas and it will be a hi-tech gated community. Expected price of ARY villas is around 1.55 crore with 25% down payment, while remaining amount will be payable in 9 equal quarterly installments. The project will be launched on 4th January 2018.
Watch the following news clip for details of the agreement:
Following is the announcement video of project launch:
