Construction of tallest building of South Asia: eight-member board of directors constituted

Punjab government has constituted an eight-member board of directors (BoD) to review the constructing of the first tallest building (1947 feet) of South Asia, Mubarak Centre, that would be completed by the year 2012 at a cost of $1.2 billion. The 72-story-Mubarak Centre is being constructed under private-public partnership with 30:70 ratio of the Punjab government and the Abu Dhabi Group respectively.
Punjab government will be represented by Secretary Finance, Chairman Planning and Development and Chief Secretary while Abu Dhabi Group will be represented by Chairman Abu Dhabi Group Sheikh Nehyan Mubarak Al-Nehyan and CEO Abu Dhabi Group Bashir Ahmed Tahir in the new board of directors.
Mubarak Centre will be the tallest building in South Asia after its completion. The Centre will include residential and office towers, as well as conference halls and a shopping mall. The first phase of the project is expected to be completed in 2010 and the whole project will be completed at a cost of about $1.2 billion in 2012.
The complex will consist of four towers and a small eclipse shaped building. The main tower will be 72 stories, while the first 30 floors will be reserved for offices, and from 31 to above for residential apartments. The other three towers will be between 30 to 34 stories, with an eclipse shaped tower in between, which will house uniquely designed apartments along with a five story covered shopping mall, which will be biggest and most exclusive shopping and entertainment complex in the region.
The eclipse shaped tower will also house the largest reception and conference halls in the country, holding between 3,500-4,000 people. There will be exclusive, high-end residential suites in the main tower, again managed by Hyatt residency. Also, parking space will be provided for over 4,000 cars. The complex will be connected to the Gaddafi Stadium Sports Complex by a covered, over-head bridge or possibly an underpass.
The project is being carried out as a joint venture between the Abu Dhabi Group and the government of Punjab. The two investors have formed a holding company for Mubarak Centre called Taavun (Pvt) Ltd, which will be responsible for managing the project. Pakistani and foreign companies will construct this project.
The height of the building will make it visible from India, as well as allow residents of the upper floors views of the Golden Temple in Amritsar (approximately 50km away from the building) on clear days.
With the completion of Mubarak Tower, investment by Abu Dhabi Group will exceed $12 billion mark in Pakistan, which is the largest investment in the country by any foreign group. According to an official of the provincial government, this will be the tallest building in the region and the government is taking keen interest in promoting such mega projects.