JEDDAH, 13 December 2006 — Pakistani expatriates have been asked to increasingly invest in their own country. “Many projects are coming up in Pakistan and overseas investors now have opportunities to invest with attractive returns,” Pakistani Consul General Masood Akhtar said on Saturday night.

“There are many projects coming up in the private sector in which you can invest,” he said speaking as the chief guest at a meeting, which was organized to focus on the upscale $357 million Centaurus project that is coming up in Islamabad.

Akhtar said the time was opportune for overseas Pakistanis to invest in their own country and cited the Centaurus project as one of the many projects in the private sector that offered the expat community avenues for, “safe investment with good returns.”

Such projects will not only open up job opportunities but create new landmarks for the country that all Pakistanis will be proud of, he said.

Akhtar said the government offered lots of avenues and incentives for investment for overseas Pakistanis. “By investing in projects back home, you can not only get good returns but can have the satisfaction of serving the country wherever you’re based overseas,” he said, adding that Pakistan is rapidly marching toward progress and prosperity and its expatriates have a major role and contribution in it,” Akhtar said.

Overseas Pakistanis who are used to enjoy a comfortable and luxurious lifestyle can now find it in their own country through projects like the Centaurus, he said.

“What we are today is due to the status our country enjoys in the world polity. We should give top priority to our country in all our endeavors, as it has made us what we are today,” Akhtar added.

“The Centaurus is a landmark project by Pak-Gulf Construction Ltd. (PGCL),” Abdul Rauf Khan, representative of PGCL in Saudi Arabia, in his presentation on the project. “The Centaurus complex is so designed that it will become Pakistan’s new identity,” Khan said.

The project, whose ground breaking ceremony was done by Pakistani President Pervez Musharraf in August. It is a state-of-the-art multipurpose complex comprising two towers for residential apartments, a tower for corporate offices, five storied mega mall and seven-star hotel.

The presentation focused on the complex that offers the expats an opportunity to own a property in an elite area located at sector F-8 of the Pakistani capital, at the confluence of two of the city’s main avenues, Jinnah and Faisal.

The Centaurus project construction on a seven acre land has already started in the heart of the capital, which offers wholesome climate and lush greenery, Khan said.

Various other features of the property include, earthquake resistance up to 9.5 Richter scale to meet international standard, a comprehensive fire-fighting system based on British and American standards and maintenance to be done by a management company. The 17 storied building will be the tallest in the city. Its exclusive features include 100 percent power backup, portable water storage for seven days, central air-conditioning, most modern waste disposal system, etc.

UK-based WS Atkins, the fourth largest design firm in the world with its current portfolio including clients and projects in over 80 countries spanning all continents, is the architect of the project, which is aimed to take the Centaurus into new heights of inspiration, innovation and architectural excellence.

Khan said that the project would take four years to complete and prospective buyers have been offered various payment facilities.

A special discount is being offered to those buyers who make a lump sum payment. Buyers can also take advantage of bank loan facilities and the ownership of the property is also transferable, he said.

Khan on his part guaranteed the safety of investment.

Abid Saeed and Rizwan Wahed Mir of the sales and marketing team of PGCL, explained various features of the project through a multimedia presentation.

Pakistan Consulate’s Head of Chancery Zaighamuddin Azam, Consul (Commercial) Hijab Gul, Consul (Press) Mohammad Jamil, Pakistani Executive Group members, engineers, doctors, accountants and investors were among those present.