Crescent Bay is a under-construction upscale

mixed-use Mixed-use is a kind of urban development, urban design, urban planning and/or a zoning type that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions are to som ...

oceanfront A shore or a shoreline is the fringe of land at the edge of a large body of water, such as an ocean, sea, or lake. In physical oceanography, a shore is the wider fringe that is geologically modified by the action of the body of water past a ...

development in

Defence Defense or defence may refer to: Tactical, martial, and political acts or groups * Defense (military), forces primarily intended for warfare * Civil defense, the organizing of civilians to deal with emergencies or enemy attacks * Defense indus ...

Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former c ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's fifth-most populous country, with a population of almost 243 million people, and has the world's second-lar ...

consisting of 50 towers. It is one of the biggest projects in

. The development features 50 high and mid-rise towers for residential and

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

use, a

shopping centre A shopping center (American English) or shopping centre ( Commonwealth English), also called a shopping complex, shopping arcade, shopping plaza or galleria, is a group of shops built together, sometimes under one roof. The first known colle ...

, 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 Land reclamation, usually known as reclamation, and also known as land fill (not to be confused with a waste landfill), is the process of creating new land from oceans, seas, riverbeds or lake beds. The land reclaimed is known as reclamati ...

. Even-though the development sold out in 2008, it faced significant delays, initially due to the

liquidity crisis In financial economics, a liquidity crisis is an acute shortage of ''liquidity''. Liquidity may refer to market liquidity (the ease with which an asset can be converted into a liquid medium, e.g. cash), funding liquidity (the ease with which borrow ...

faced by

Emaar Properties Emaar Properties (Emaar Developments or simply Emaar) is an Emirati multinational real estate development company located in the United Arab Emirates. It is a public joint-stock company, listed on the Dubai Financial Market, and has a valuation o ...

following the 2008 financial crisis. Later, due to a legal battle with DHA Ltd allegedly for breach of contract. The construction resumed in 2015 and is contracted to

NESPAK The National Engineering Services Pakistan ( ur, , trading name: NESPAK) NES, is a Pakistan-based multinational state-owned enterprise and an energy contractor which provides consulting, construction, engineering, and management services glob ...

. 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$.

References

External links

Official Website

Pakistan Defence Officers Housing Authority
{{Military of Pakistan Apartment buildings in Pakistan Hotels in Karachi Skyscrapers in Karachi Defence, Karachi Business parks of Pakistan Shopping malls in Pakistan

See also

References

External links