960404

Islamabad

New City pact

to be inked

on Sunday

ISLAMABAD: MG (Multinational Group) Pakistan will enter into formal agreement with its international partners for the development of Islamabad New City, here on Sunday.

The co-partners in the construction of the New City include: Asia Pacific Group (APG) Holding Pte. Ltd., and Asia Challenge Investment (ACI) Pte Ltd., Singapore who are heading the international developers consortium, formed to undertake development of the Islamabad New City.

The formal agreement ceremony will be held here on April 7. The Chairman BoI, Syed Safdar Abbas Zaidi, will be the chief guest on the occasion. Tahir Khan , President MG Pakistan will be signatory to the pact on behalf of MG Hertz and MG Realters. Tan Wah Thong, Chairman of Asia Pacific Holding, (APG) and Tony Chan, Chairman Asia Challenge Investments, Singapore (heading the international developers consortium) will be signatories to the pact on behalf of their respective organisations.

The President MG Pakistan will brief the media representatives on the Islamabad New City project on April 09, her at a local hotel.- APP