The City District Government Karachi (CDGK) on Friday signed a memorandum of understanding (MoU) with Saudi Arabia, Kuwait, Qatar and Oman to construct seven-star hotel, world-class shopping plaza and multi-storied commercial and residential centres in the metropolis.
District Co-ordination Officer (DCO) Fazlur Rehman on behalf of the CDGK formally signed the MoU with consulate generals of Saudi Arabia, Kuwait, Qatar, and Oman, who reciprocated on parts of their respective governments, at a local hotel.
Addressing the signing ceremony, Sindh governor Dr Ishratul Ibad said city nazim Syed Mustafa Kamal was working for the development of Karachi with an apt vision.
"It is an important step toward the creation of mega city and, in fact, the development of Karachi is the development of Pakistan," he added.
City nazim Mustafa Kamal said with the help of other Islamic countries the first seven-star hotel in Pakistan, which would be amongst the top hotels in the world, would be constructed in the metropolis.
Due to economic-friendly policies, huge foreign investment has taken place in the country, and several other such projects on Build-Operate-Transfer (BOT) basis in the city are in the pipeline, he added. He hoped these projects would help boost livelihood of common citizen. He said the construction work on these projects would start by this year.