19 Aug 2016
Elysium Ranches, a housing development near Islamabad, was supposed to be a paradise. Spread over six sq miles of land, it would boast luxurious “farmhouses” costing up to £340,000 each, a seven-star hotel and an international-standard golf course to ensure it was “the ultimate place of happiness and tranquillity for its residents”.
Or so promised the scheme’s glossy 2009 corporate prospectus, which predicted revenues of £493m. The public would buy their slice of heaven from Pakistan’s most powerful and respected institution, the army.
But seven years on there is nothing to show for the project except furious investors who say they paid for ranches that never materialised.
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