Yes, it’s the same Creek Marina, which was advertised back in 2005 as dazzling development that would comprise of eight residential towers near the blue waters of Karachi Sea and engulfed by green trees.
Around eight years have lapsed and the investors are still waiting for the completion and delivery of the project. It was supposed to be completed by December, 2009; but thanks to the beautiful collaboration developed between DHA (Defence Housing Authority) and Meinhardt (a Singapore-based firm) that a huge amount of money of hundreds investors is on stake.
Seeking consolation, each family funnelled about Rs. 15 million into the Creek Marina apartments, but the dream of about 250 families to possess a ‘sweet home’ in the neighbourhood is far from realization. What a distress that the project is still stuck in a legal limbo between the well-known DHA and Meinhardt, the Singaporean developer.
About 85% of the total instalments have been paid by the investors, what worries them is the fact that no notable progress is being witnessed in this project. Creek Marina Private Ltd (CMPL), a separate body was created to lead the project as promised, but the deadlock between the two parties does not seem to provide a ‘bang for the buck’ to the investors.
The Sindh High Court, in 2011, ordained DHA to utilise the funds available in CMPL’s account for the development of locality. However, no amounts were disbursed by the Defence Housing Authority in this regard. A DHA official unearthed his views that the authority fears that Meinhardt will run away with the money and that the DHA is thinking about going to the court, once again, against Meihhardt.
So, what was the mistake of innocent investors? I think they did something wrong to dream about lavish living around blue water and beautiful trees or they did a mistake to trust the DHA for Creek Marina Apartments. Whatever it is, the situation currently seems quite blurry with no light at the end of the tunnel.
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what a Shame !!