Keenjhar Lake Resort Project - Sindh Board Of Investment ...

The adjacent table presents a conservative
estimate of the number of people in Karachi and
other major cities near Keenjhar Lake that visit
recreational ventures on a daily basis. Out of the
total population stated in the table, even if 3% of
the visitors visit Keenjhar Lake for recreational
purposes, the number of visitors can range from
3,500 – 5,500 persons per day. This does not
include corporate visitors, who are likely to utilize
the facility for corporate meetings, planning events,
training, seminars and staff outings.
Recreational Avenue
Total Visitor Range
The above analysis is a broad indicator for the
potential of a well developed tourism facility.
Investors may however carry out their own analysis
Total 114,250 172,500
and assessment of the potential demand, which may in fact be different. It must however be
emphasized that purpose built facilities with infrastructure support from local government are few and
far in between and the needs are still largely unfulfilled.
Min
Max
Recreational Parks 100,000 150,000
Farmhouses 1,000 3,000
Site seeing 250 500
Social Clubs 8,000 12,000
Beachfront 5,000 7,000
11.4 Survey of Recreational spots near Karachi
A field survey was conducted to identify areas where farmhouses, resorts and water parks are
located. The purpose of this survey was to highlight the number, facilities and rates of farmhouses,
resorts and water parks in the surveyed area. The survey mainly covered Malir, Super Highway,
Gadap and Gharo, which are the major water / amusement parks and farmhouses currently in
existence.
Our market survey covered approximately 73%, 67% and 80% of the farmhouses, resorts and water
parks respectively.
Farm Houses
It was found that there were more
private farmhouses as compared
to commercial farmhouses in
Karachi. Currently Palm Village is
the biggest Farmhouse
Development Project and
comprises 117 farmhouses.
The adjacent table illustrates the
price range of privately owned
farmhouses during the year 2009.
The table below illustrates the market prices of farmhouses existing at the time of our survey in mid
2009:
Area
Project Name Unit size Pricing (millions)
Palm Village 2,200 sq yds PKR 10-12 per unit
Lavish Garden 2,200 sq yds PKR 8-9 per unit
Millennium Resorts 2,200 sq yds
Land value per acre
33 yrs lease 99 yrs lease
Gadap PKR 1.2 – 1.5 million n/a
Super Highway PKR 1.2 – 1.3 million PKR 2.0 – 6.5 million
Malir PKR 1.2 – 1.5 million PKR 2.0 – 2.5 million
Gharo PKR 2.0 – 2.5 million PKR 6.0 – 6.5 million
PKR 6-9 per unit
Gohar-e-Nayab 2,200 sq yds PKR 8-10 per unit
Palm Dreams 2,000 to 6,000 sq yds PKR 9-22 per unit
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Keenjhar Lake Resort Project - Project Information Memorandum