Hashoo Group Real Estate Division and Mujahid Properties (Pvt.) Limited have officially signed a Memorandum of Understanding (MoU) to establish a Joint Venture for the development of the landmark "16 Sina Project" in New Blue Area, Islamabad. The signing ceremony and project briefing were attended by senior representatives from both organizations, including Mr. Murtaza Hashwani, CEO and Deputy Chairman of Hashoo Group; Mr. Shakir Bhura, CEO of Hashoo Group Real Estate Division; Mr. Syed Sulaiman Tahir, Chief Operating Officer; Mr. Muhammad Faizan, Chief Financial Officer; and Mr. Atif Ikram Sheikh, Chairman of Mujahid Group of Industries and CEO of Mujahid Properties (Pvt.) Limited, who also serves as President of FPCCI, President of ECO CCI, Senior Vice President of SAARC CCI, and Vice President of CACCI.
Attendees and Facilitators
The event was also graced by senior representatives from FPCCI and associated chambers, including Mr. Karim Aziz Malik, Incharge of FPCCI Capital Office; Mr. Malik Sohail Hussain, Chairman Coordination for the Capital Office; Ms. Zil Huma, Executive Committee Member of SAARC CCI; Mr. Arham Ikram, Senior Vice President of the Haripur Chamber; along with Mr. Ayaz Malik and Mr. Rahim Ikram. The Joint Venture was facilitated and organized by Amanah.pk, a Shariah-compliant real estate investment and advisory firm. From Amanah.pk, the ceremony was attended by Mr. Haseeb Alam Khan, CEO; Mr. Ahmad Shah, Managing Director; and Mr. Umaid Dogar, Sales Director.
Project Highlights
Speaking on the occasion, Mr. Shakir Bhura highlighted the significance of the upcoming development, describing it as a transformative addition to the evolving skyline of Pakistan's capital city. He stated that the project will comprise up to thirty storeys, featuring spacious parking facilities, retail floors, serviced office spaces, luxury serviced residential apartments, and six exclusive penthouses. Mr. Bhura emphasized that adequate parking has remained one of the major challenges in New Blue Area, and the 16 Sina project has been carefully designed to address this concern while offering a modern, functional, and premium urban environment.
He further remarked that the development will be a remarkable addition to New Blue Area, with its distinctive architectural style contributing significantly to the modern structure, aesthetics, and beauty of the region. The project will also feature Hashoo Group's signature food outlets. "All inventory within the project will be developed to the highest standards associated with Hashoo Group. With our extensive hospitality experience through Pearl-Continental Hotels & Resorts and Hotel One across Pakistan, we understand the importance of quality, comfort, service, and customer experience. This project will reflect the same excellence and attention to detail," Mr. Bhura stated.
Commitment to Quality and Timeline
He added that the amenities planned for the development will provide an exceptional lifestyle and business experience to residents, visitors, and corporate users alike, making 16 Sina one of the finest investment and living opportunities in Islamabad. Mr. Bhura further stated that Hashoo Group has assumed the responsibility of lead partner for the project, including construction management, development execution, sales strategy, branding, and operational planning. He emphasized that both Hashoo Group and Mujahid Properties (Pvt.) Limited are fully committed to delivering the project within a three-year timeline.
"This is a project of great importance, and both partners are completely aligned in their vision and commitment," he said. "Work on the project will commence immediately from the date of signing, and there will be no delay in moving towards execution and delivery."
Confidence in Pakistan's Real Estate Sector
Mr. Bhura also expressed confidence in the future of Pakistan's real estate sector, stating that despite uncertainty and unrest in different parts of the world, Pakistan continues to emerge as a promising destination for investment and development. He appreciated the initiatives and policies introduced by the Government of Pakistan under the leadership of Prime Minister Mr. Shehbaz Sharif and acknowledged the efforts of Field Marshal Mr. Asim Munir in strengthening confidence, stability, and long-term economic prospects for the country. "The real estate sector in Pakistan is witnessing strong momentum, and projects such as 16 Sina reflect the country's growth potential, investor confidence, and increasing demand for world-class mixed-use developments," he noted.
Sales and Marketing
The management of both organizations expressed their commitment to delivering a project that will set new benchmarks for luxury, functionality, architectural excellence, and urban development in Pakistan. Amanah.pk holds the exclusive sales and marketing rights for the 16 Sina Project. For bookings and further information, visit 16sina.com.
