The Overseas Pakistani Housing Scheme is set to be launched by the Capital Development Authority (CDA), offering a new international-standard residential project specifically designed for overseas Pakistanis.
Located at the scenic foothills of the Margalla Hills in Sector E-11, this ambitious initiative aims to fulfill the housing needs of the Pakistani diaspora. To ensure its success, an international transaction advisory firm will be appointed soon, following a competitive selection process.
The proposed Overseas Pakistani Housing Scheme will feature 2,000 luxury apartments exclusively available to overseas Pakistanis, with an estimated cost of approximately Rs 70 billion. This development will be executed as a joint venture, showcasing a strong commitment to preserving the natural beauty of the area while enhancing Islamabad’s reputation as a green and clean city.
Work on the design of the Overseas Pakistani Housing Scheme has already commenced, with an anticipated completion timeline of four years. The CDA will provide the land for this project, while the financial benefits will accrue to the authority through this partnership. Adhering to international standards, this housing scheme promises to be a unique residential offering not just for Islamabad but for the entire country.
A senior CDA official highlighted that two additional projects for overseas Pakistanis are already underway: a state-of-the-art Overseas Pakistanis Club in Islamabad and a residential project near the Korang River. The latter aims to clean the river and promote fish breeding, enhancing the local environment.
Addressing previous concerns, the official noted that the CDA is focused on providing secure residential and recreational facilities for overseas Pakistanis. This commitment comes in response to past issues of fraud and land encroachments faced by those investing in private societies. Supported by Prime Minister Shehbaz Sharif, the CDA aims to create a secure investment environment for overseas Pakistanis.
Additionally, the CDA plans to undertake most residential projects on a joint venture basis, conserving financial resources for other developments, including the construction of eight underpasses and various infrastructural projects. Work on two underpasses near the Serena Hotel and along the Kashmir Highway is set to begin immediately after the Shanghai Conference on October 15, 2024.
The Capital Development Authority (CDA) has Also unveiled Islamabad’s first Digital Car Parking System at G-8 Markaz, marking a significant step in the city’s digitization efforts. Inaugurated by CDA Chairman Mohammad Ali Randhawa, the launch was attended by board members and featured a detailed briefing from Member Technology and Digitisation Nauman Khalid on the project’s importance for the capital.
Initially, the Digital Car Parking System will be available to the public free of charge for about 10 days to encourage awareness and usage. The system offers multiple payment methods, including credit and debit cards, QR codes, scratch cards, and cash through automated machines, enhancing convenience for users.
According to Chairman Randhawa, the revenue generated from the parking system will be reinvested into local markets, boosting business activities and overall economic growth. The digital system’s rollout will extend beyond G-8 Markaz, with installations planned for key locations such as the parking lot near Centaurus Mall and F-7, expected to be operational by September 25.
This initiative is part of a collaborative effort between Pakistani and Chinese companies under a five-year contract, where the CDA will retain 75% of the revenue generated. The contractor will receive 25%, with funds deposited directly into the CDA’s accounts for transparency.
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