Emaar Pakistan, the subsidiary of Dubai-based Emaar Properties, has signed a Pr1.5bn ($17.5m) contract with Paragon Constructors to compete work in its Crescent Bay development in Karachi.
Paragon Constructors will complete MEP, masonry and plaster works for the high rise towers in Emaar’s 108-acre Crescent Bay project.
The mixed-used development with residential, commercial and retail areas will feature a series of high-rise towers set along three crescent shaped man-made bays.
In January, Emaar said would concentrate its efforts outside of Dubai and on non-property sectors such as hotels and hospitals.
The Pakistani arm of the property developer currently has projects worth $2.4bn under construction in the country. Projects include the Highlands and Canyon Views in Islamabad and Crescent Bay in Karachi, offering 9,000 single family homes and villas.
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