Crystal Lagoons Breaks Ground on its First Project In Pakistan5 July, 2021 / News
The first project of Crystal Lagoons® in Pakistan, ARY Laguna, held its groundbreaking ceremony few days ago. It’s a large-scale, truly unique real estate project, it is to be anchored by 22 acres of tropical beaches and a crystalline lagoon powered by sustainable technology, and is set to revolutionize Karachi.
The multinational innovation company entered into the Pakistani market through an exclusive Master Agreement to develop 15 Public Access Lagoons ™ projects, also known as PAL ™ projects.
Crystal Lagoons partnered with Ary Group, Pakistan’s leading business holding, present in the Middle East, Europe and the U.S., with businesses relating to the banking world, real estate, 12 TV channels that broadcast in more than 100 countries, gold production, retail, jewelry, among others.
Salman Iqbal, the owner of the holding, is considered a highly influential businessman and one of the most daring in the entertainment industry. He also owns Pakistan’s leading cricket team, known as the Kirachi Kings, sponsored by “Ary Laguna Karachi”, which will be Crystal Lagoons first development anchored by a pure turquoise lagoon in the country.
“PAL projects transform any location into the most entertaining place in the city, significantly enhance the urban environment and create beach life steps away from their homes. These projects will change the urban life of millions of Pakistani people,” explains Felipe Baldwin, Global Business Director at Crystal Lagoons. The lagoons will be linked to residential first-home and commercial developments, with master plans ranging from 120 acres to 1200 acres.
PAL, a business model offering endless ways to monetize
Considered a major contract for the water innovation company, the projects are to be established in strategic cities around Pakistan, such as Islamabad, Karachi, Lahore, Faisalabad, Peshawar, Rawalpindi, Multan, Sukkur, Gujranwala and Larkana. Once operational, they will generate projected annual sales of more than US$ 550 million, with over 12 million visitors annually.
“Pakistan is a market with great potential for PAL projects and the business model due to its climate and population, among a series of other factors. This is a very robust proposal, for which Crystal Lagoons is choosing the best partners around the world,” explains Felipe Baldwin, Global Business Director at the firm.
PAL, the concept and business model created by Crystal Lagoons, offer rates of return higher than any industry and are attracting international investors seeking new recreational alternatives and safe long term investments. Operationally replicable anywhere in the world, the firm known for bringing beach life to every city in the world, also offers three phases of investment, including basic, intermediate and advanced infrastructure.