ARY Laguna by Crystal Lagoons® Named “Cornerstone Development”
ARY Laguna by Crystal Lagoons®, the water innovation multinational’s latest signing in Pakistan, has been praised by the press as a “cornerstone, state-of-the-art” development. A large-scale, truly unique real estate project, it is to be anchored by 22 acres of tropical beaches and a crystalline lagoon powered by sustainable technology, and is set to revolutionize Karachi.
The Miami-based firm has partnered with Ary Group, Pakistan’s leading business holding, present in the Middle East, Europe and the U.S., with businesses relating to the banking world, real estate, 12 TV channels that broadcast in more than 100 countries, gold production, retail, jewelry, among others.
Crystal Lagoons had recently confirmed its expansion in the Pakistani market, with 15 Public Access Lagoons™, also known as PAL™, having signed an exclusive Master Agreement to develop crystalline lagoons the general public will access via ticketed entry. This latest announcement adds to a list of tremendously successful projects that the Miami-based innovation firm currently has in the pipeline worldwide.
Salman Iqbal, owner of the Ary holding, a highly influential businessman and one of the most daring in the entertainment industry, also owns Pakistan’s leading cricket team, the Kirachi Kings.
Considered a major contract for the water innovation company, the developments are to be established in strategic cities across Pakistan, such as Karachi, Islamabad, Lahore, Faisalabad, Peshawar, Rawalpindi, Multan, Sukkur, Gujranwala and Larkana. Once operational, they are expected to generate annual sales of more than US$ 550 million and will receive over 12 million visitors annually.
The development is expected to be completed in 9 to 10 years.