Crescent Bay, Karachi
Crescent Bay is a under-construction upscale mixed-use oceanfront development in Defence, Karachi, Pakistan. It is considered as one of the biggest projects in Pakistan.
The development feature's a series of high and mid-rise towers for residential and commercial use, a shopping centre, a five-star beachfront hotel and a tower located in the heart of the project. The development includes approximately 4,000 residential apartments. Launched on May 31, 2006, when completed the development would be the first development with a private beach and also the first based on reclaimed land.
Even-though the development sold out in 2008, it has faced significant delay's, initially due to the liquidity crisis faced by Emaar Properties following the 2008 financial crisis. Later, due to a legal battle with DHA Ltd for allegedly for breach of contract. The construction resumed in mid-2015 and is contracted to NESPAK. Now, in 2018 two 38-storey buildings of Coral Tower is completed and are about to handover later this year while construction of Pearl Tower and Reef Tower are progressing rapidly.
