RIYADH, 3 December 2006 — Buyers will be offered a free business class return air ticket to see the progress of the construction of their purchased properties at the Centaurus project in Islamabad. Making the announcement at the Centaurus Night held at the Marriott Hotel Friday, Abid Saeed, senior marketing and sales manager of Centaurus, said, “The tickets will be given free once in six months to buyers who wish to see for themselves the progress of the work.” He said the residential apartments would be completed in 48 months while the commercial buildings will be done in 36. “Sixty percent of the residential apartments has been sold,” Saeed said, adding that the $537 million project in Islamabad, inaugurated by President Musharaff in October this year, has attracted a large number of Pakistanis living abroad. As a reciprocal gesture, he said his company would offer a guarantee for 15 years for heavy electrical equipment installed in the complex. “No maintenance charges will be levied on heavy equipment such as aircondition chillers and escalators,” he noted. Saeed said that his company has the required capital to complete the project as scheduled by 2010.
Under this scheme Pakistanis and non-Pakistanis have been offered an opportunity to own properties in an upscale project initiated by Pak-Gulf Construction Limited (PGCL), a joint venture by Riyadh-based Tamimi Global Limited and Islamabad-based, Sardar Builders. The team which visited, Dubai, Abu Dhabi, Doha, Manama and Dammam, is expected to visit Jeddah next week.
“The ready response from the people bears eloquent testimony to the worth and value of the project,” Saeed said, pointing out that the Al-Falah Bank in Pakistan had consented to give loans for the purchase of these properties to interested buyers. Answering a question, Saeed said that buyers can pay a down payment of 20 percent of the value of the property and the balance in 14 quarterly installments. The remaining three percent of the value could be paid while taking possession of the property, he added. A 15 percent discount will be given to those purchasers who make lump sum payment. “Defaulters or those opting to withdraw halfway will lose 25 percent of their payments.”
The Centaurus project is being built in an spectacular area of seven acres in the heart of the capital that offers wholesome climate and lush greenery. It will include a five-story shopping mall, two residential towers, corporate complex and a seven star deluxe hotel.
It is located in F-8 sector of Pakistan’s capital city Islamabad. The site is at the confluence of two of Islamabad’s main avenues, namely the Jinnah and Faisal Avenues. The project is conveniently located in the commercial heart of the capital and yet it is in close proximity to the beautiful Margalla hills, providing prime unobstructed views and daily customer traffic. There is ample reserved basement as well as ground level parking, he noted. The other features include, separate gymnasiums for ladies and men, swimming pool, spa, pool tables, multi-media rooms, 24-hour reception, back-up generation of power, laundry and servant facilities.