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| structural_engineer =
| structural_engineer =
| main_contractor =
| main_contractor =
| developer = [[Emaar Properties]]
| developer = [[Emaar Properties]] [https://www.gigagroup.com/ Giga Group of Companies]
| owner =
| owner =
| management = [[Hill International]]
| management = [[Hill International]]
| references = [http://www.emaar.com/pakistan/crescent-bay/construction-progress.aspx Emaar Pakistan - Official website]
| references = [http://www.emaar.com/pakistan/crescent-bay/construction-progress.aspx Emaar Pakistan - Official website] [https://gigagroup.com/projects/- Giga Group of Companies - Official website]
}}
}}


'''Crescent Bay''' is a {{convert|108|acre|m2|sing=on}} under-construction [[Upscale shopping|upscale]] [[Mixed-use development|mixed-use]] [[oceanfront]] development in [[Defence, Karachi|Defence]], [[Karachi]], [[Pakistan]] consisting of 50 towers. It is one of the biggest projects in [[Karachi]], [[Pakistan]], initiated by [https://www.gigagroup.com/ Giga Group] [[Pakistan]].
'''Crescent Bay''' is a {{convert|108|acre|m2|sing=on}} under-construction [[Upscale shopping|upscale]] [[Mixed-use development|mixed-use]] [[oceanfront]] development in [[Defence, Karachi|Defence]], [[Karachi]], [[Pakistan]] consisting of 50 towers. It is a joint venture by EMAAR and Giga Group.<ref>{{cite web |last1=Press |first1=Release |title=Blessing: Shaikh Noori visits Crescent Bay |url=https://tribune.com.pk/story/673880/blessing-shaikh-noori-visits-crescent-bay |website=Express Tribune |publisher=Express Tribune |access-date=19 February 2014}}</ref> Land reclamation on the project was completed by Mazyood Giga International, a subsidiary of Giga Group, with the help of Halcrow Consultants.


The development features 50 high and mid-rise towers for [[residential]] and [[Commerce|commercial]] use, a [[shopping centre]], a five-star beachfront hotel and a tower located in the heart of the project. The development includes approximately 4,000 residential apartments. Launched 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]].<ref>{{Cite web|url=http://tribune.com.pk/story/208375/emaar-seeks-more-time-in-crescent-bay-case/|title=Emaar seeks more time in Crescent Bay case - The Express Tribune|date=2011-07-12|website=The Express Tribune|language=en-US|access-date=2016-06-13}}</ref>
The development features 50 high and mid-rise towers for [[residential]] and [[Commerce|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]].<ref>{{Cite web|url=http://tribune.com.pk/story/208375/emaar-seeks-more-time-in-crescent-bay-case/|title=Emaar seeks more time in Crescent Bay case - The Express Tribune|date=2011-07-12|website=The Express Tribune|language=en-US|access-date=2016-06-13}}</ref>


Even-though the development sold out in 2008,<ref>{{Cite web|url=http://www.riazhaq.com/2008/02/emaars-crescent-bay-project-sold-out-in.html|title=Haq's Musings: Emaar's Crescent Bay Project Sold Out in Karachi|website=www.riazhaq.com|access-date=2016-06-13}}</ref> 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 [[Defence Housing Authority|DHA Ltd]] allegedly for breach of contract.<ref>{{Cite web|url=http://tribune.com.pk/story/204627/dha-takes-over-crescent-bay-project-on-the-rocks/|title=DHA takes over: Crescent Bay project on the rocks - The Express Tribune|date=2011-07-07|website=The Express Tribune|language=en-US|access-date=2016-06-13}}</ref> 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$.<ref>{{Cite web|url=http://www.nespak.com.pk/news/newsdetail.asp?id=3364|title=NESPAK :: News Detail|website=www.nespak.com.pk|access-date=2016-06-13|archive-url=https://web.archive.org/web/20160810133609/http://www.nespak.com.pk/news/newsdetail.asp?id=3364|archive-date=2016-08-10|url-status=dead}}</ref><ref>{{Cite web|url=https://www.emaar.com/pakistan/crescentbay/construction-progress.aspx|title=EMAAR Pakistan|website=www.emaar.com|access-date=2016-06-13}}</ref>
Even though the development sold out in 2008,<ref>{{Cite web|url=http://www.riazhaq.com/2008/02/emaars-crescent-bay-project-sold-out-in.html|title=Haq's Musings: Emaar's Crescent Bay Project Sold Out in Karachi|website=www.riazhaq.com|access-date=2016-06-13}}</ref> it faced significant delays, initially due to the [[liquidity crisis]] faced by [[Emaar Properties]] following the [[2008 financial crisis]]. Later, due to a legal battle with [[Defence Housing Authority|DHA Ltd]] allegedly for breach of contract.<ref>{{Cite web|url=http://tribune.com.pk/story/204627/dha-takes-over-crescent-bay-project-on-the-rocks/|title=DHA takes over: Crescent Bay project on the rocks - The Express Tribune|date=2011-07-07|website=The Express Tribune|language=en-US|access-date=2016-06-13}}</ref> The construction resumed in 2015 and is contracted to [[NESPAK]]. As of 2022, 38-storey Coral Tower (2 towers), Pearl Tower (3 towers) and Reef Tower (2 Towers) are complete. As of 2022, Residential properties are priced from 300,000$ to 600,000$.<ref>{{Cite web|url=http://www.nespak.com.pk/news/newsdetail.asp?id=3364|title=NESPAK :: News Detail|website=www.nespak.com.pk|access-date=2016-06-13|archive-url=https://web.archive.org/web/20160810133609/http://www.nespak.com.pk/news/newsdetail.asp?id=3364|archive-date=2016-08-10|url-status=dead}}</ref><ref>{{Cite web|url=https://www.emaar.com/pakistan/crescentbay/construction-progress.aspx|title=EMAAR Pakistan|website=www.emaar.com|access-date=2016-06-13}}</ref>


==See also==
==See also==
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==External links==
==External links==
* [https://tribune.com.pk/story/673880/blessing-shaikh-noori-visits-crescent-bay]
* [http://www.emaar.com/Pakistan Official Website]
* [http://www.emaar.com/Pakistan Official Website]
* [http://www.dhakarachi.org/ Pakistan Defence Officers Housing Authority]
* [http://www.dhakarachi.org/ Pakistan Defence Officers Housing Authority]

Latest revision as of 07:21, 27 June 2024

Crescent Bay
Crescent Bay as of 2022
Map
General information
StatusUnder construction
TypeResidential
Commercial
Retail
LocationKarachi, Pakistan
Construction started2006
Estimated completion2050
Cost$2.4 billion
ManagementHill International
Design and construction
DeveloperEmaar Properties Giga Group of Companies
References
Emaar Pakistan - Official website Giga Group of Companies - Official website

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.

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]

See also

[edit]

References

[edit]
  1. ^ Press, Release. "Blessing: Shaikh Noori visits Crescent Bay". Express Tribune. Express Tribune. Retrieved 19 February 2014.
  2. ^ "Emaar seeks more time in Crescent Bay case - The Express Tribune". The Express Tribune. 2011-07-12. Retrieved 2016-06-13.
  3. ^ "Haq's Musings: Emaar's Crescent Bay Project Sold Out in Karachi". www.riazhaq.com. Retrieved 2016-06-13.
  4. ^ "DHA takes over: Crescent Bay project on the rocks - The Express Tribune". The Express Tribune. 2011-07-07. Retrieved 2016-06-13.
  5. ^ "NESPAK :: News Detail". www.nespak.com.pk. Archived from the original on 2016-08-10. Retrieved 2016-06-13.
  6. ^ "EMAAR Pakistan". www.emaar.com. Retrieved 2016-06-13.
[edit]
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