Dolmen City Explained

Dolmen City
Completion Date:Dolmen Mall - 2011
Harbour Front - 2019
Towers A and B - 2020
Owner:Dolmen Group
Architect:Arshad Shahid Abdulla Pvt. Ltd.
Start Date:2005
Floor Count:40 (Tower A)
40 (Tower B)
19 (Harbour Front)
17 (Executive Tower)
Roof:150m (490feet) (Towers A and B)
Coordinates:24.8022°N 67.0299°W
Location:Karachi, Pakistan
Building Type:Shopping mall, corporate offices
Address:Marine Promenade - Sea View Road
Clifton, Karachi

Dolmen City is a mixed-use complex,[1] situated on the waterfront of Clifton, in Karachi, Pakistan. It is made up of four towers: Tower A, Tower B, Harbour Front, and Executive Tower. At the base of the complex is the Dolmen Mall, a three-level shopping mall built in 2011 with an area of, and 130 stores - including several international brands.[2] The total area of the entire Dolmen City complex is .[3]

History

Dolmen City's site was originally the site of a casino complex,[4] which was closed in 1978 during the dictatorship of General Zia-ul-Haq before it was formally opened.[5] The site was purchased for 100 million rupees, but the value of the listed portion of that property was in excess of 50 billion rupees in 2019. The complex was owned by the International Complex Project - a venture which was 20% owned by the Arif Habib Group, and 80% by the Dolmen Group.[6] Since June 2015, the companies have listed some of their shares as part of the Dolmen City REIT on the Pakistan Stock Exchange.[7]

Construction of the Dolmen City complex began in 2005, and was completed in phases. The site's branch of Dolmen Mall was completed in 2011,[8] while the Harbour Front Tower and Executive Towers were completed in 2019. Towers A and B were topped out in 2019, but have not yet been inaugurated.

Office towers

Towers A and B are in height, 40 floors each,[9] and are made of concrete.[10] They were designed by architect Arshad Shahid Abdulla. Both house corporate offices, while Tower B will also host a hotel on its ten top floors.[11]

Executive Tower is a 17-floor corporate office building,[12] and is home to co-working space company Regus.[13] Harbour Front is an office building with 19 floors, and houses some multinational corporations such as Mitsubishi and Procter & Gamble.[14] The occupancy rate in Harbour Front is 92% as of Q1 2020.[15]

Dolmen Mall

See main article: Dolmen Malls. Dolmen Mall is a 3-level shopping mall built in 2011 with an area of, of which are leasable. It has 130 stores, including several international brands.[16] There are several Pakistani chains as well, including Khaadi. & Converse. The occupancy rate of the mall is 98.3% as of Q1 2020.

Dolmen City REIT

The occupancy rate for Dolmen Mall stood at 98.3 percent in 2020, while those of the Harbour Front Building stood at 92 percent in 2020.[17]

See also

Notes and References

  1. Web site: Dolmen City Buildings . https://web.archive.org/web/20180412211907/https://www.emporis.com/complex/113635/dolmen-city-karachi-pakistan. dead. April 12, 2018. Emporis. 2020-04-18.
  2. Web site: Dolmen Mall Clifton Dolmen Group. www.dolmengroup.com. 2020-04-18.
  3. Web site: Dolmen City ASA. asa.com.pk. 2020-04-18.
  4. Web site: A seller of optimism. Alam. Kazim. 2019-10-21. dawn.com. en. live. https://web.archive.org/web/20191021072021/https://www.dawn.com/news/1512023 . 2019-10-21 . 2020-04-18. Similarly, the old casino complex in Clifton on which Dolmen Mall and Harbour Front now exist was originally purchased for only Rs100m. Today, the value of the listed portion of that property is in excess of Rs50bn..
  5. Web site: Qutubuddin. Issue date April 28, 1978. Updated March 15, 2015. General Zia-ul-Haq closes down Pakistan's first-ever casino. India Today. en. 2020-04-18.
  6. Web site: Foot in the boom: Small-time investors look to own Dolmen City. Tribune.com.pk. 2015-06-09. The Express Tribune. en. 2020-04-18.
  7. Web site: Real Estate Investment Trust: Arif Habib Group holding back new schemes. Tribune.com.pk. 2016-05-17. The Express Tribune. en. 2020-04-18.
  8. News: Pakistan's commercial hub faces growing extortion menace. 2013-07-01. Reuters. 2020-04-18. en.
  9. Web site: Dolmen City Office Tower B, Karachi . https://web.archive.org/web/20210731111402/https://www.emporis.com/buildings/249062/dolmen-city-office-tower-b-karachi-pakistan. dead. July 31, 2021. Emporis. 2020-04-18.
  10. Web site: Dolmen City Tower A - The Skyscraper Center. www.skyscrapercenter.com. 2020-04-18.
  11. Web site: Hotel & Sky Tower Dolmen Group. www.dolmengroup.com. 2020-04-18.
  12. Web site: The Executive Tower, Karachi . Emporis. 2020-04-18.
  13. Web site: Regus Pakistan. Regus Pakistan.
  14. Web site: Dolmen City REIT – Arif Habib Dolmen REIT. en-GB. 2020-04-18.
  15. Web site: Dolmen City REIT- slowing consumerism?. Research. B. R.. 2020-01-21. Business Recorder. en-US. 2020-04-18.
  16. Web site: Directory. Dolmen Mall. live. https://web.archive.org/web/20160204064140/http://www.dolmenmalls.com:80/directory.php? . 2016-02-04 .
  17. Web site: Research. B. R.. 2020-01-21. Dolmen City REIT- slowing consumerism?. 2020-09-27. Brecorder. en.