Groundbreaking ceremony of Crystal Lagoons® development in Pakistan2 August, 2021 / News
A few weeks ago, the sod-turning ceremony for the first Crystal Lagoons® project was held in Karachi, Pakistan. Ary Laguna DHA City, the first residential and commercial project of its kind in South Asia, will be anchored by 9 hectares of tropical beaches and a crystalline lagoon powered by sustainable technology that will revolutionize the city of Karachi. Around the lagoon will be constructed several apartment buildings overlooking the reservoir, villas and luxury penthouses, as well as a shopping space, restaurants, three mosques and green areas.
The lagoon is in the process of being excavated, and Salman Iqbal, president and CEO of ARY Group, reported that the project will become an icon of modernity, progress and avant-garde in Pakistan.
“We wanted to launch a revolutionary and iconic project like Palm Jumeirah in Dubai and that is why we brought Crystal Lagoons® to Pakistan,” confirmed the executive.
Expanding in Pakistan
ARY Group and Crystal Lagoons® have signed a master agreement to carry out 15 Public Access Lagoons™ projects in the Asian nation, in the cities of Karachi, Islamabad, Lahore, Faisalabad, Peshawar, Rawalpindi, Multan, Sukkur, Gujranwala and Larkana. When functioning, they will generate projected annual sales of more than US$ 550 million, with more than 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 urban 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 planet also offers three phases of investment, including basic, intermediate and advanced infrastructure.