ISLAMABAD: The Capital Development Authority (CDA) is going to launch a world class housing project for overseas Pakistanis.
The expected worth of the project is Rs178 billion, WealthPK reported.
The project is a joint venture of the Islamabad Development Fund Limited (IDFL) for foreign residents through the Roshan Digital Account.
Talking to WealthPK, spokesperson for the Capital Development Authority (CDA) Syed Asif Shah said the Overseas Enclave located close to the Islamabad International Airport will have all modern amenities.
Initially, there will be five high-rise 34 storeyed apartments. Located in the foothills of the Margalla Hills, the project is modelled on the CDA’s previous project Margalla Retreat but with more facilities and affluence for non-residents in fully developed area of Islamabad Capital Territory (ICT).
More than 5,000 flats of different sizes – ranging from 970 square feet (one room) to 2,300 square feet (5 rooms) – have been planned. Staff lodging along with an extremely smart technology, unified building management system for security purpose, utilities and other town facilities and services have also been planned for this state-of-the-art project, the spokesperson added.
According to Mr. Shah, the project plan is in the final stage and will be advertised internationally through the companies which will be hired through an open advertisement under the Public Procurement Regulatory Authority (PPRA) rules. It will be launched in the upcoming weeks through the website.
According to a report issued by the State Bank of Pakistan, remittances under the Roshan Digital Account (RDA) reached $3.632 billion till February 2022. The digital account was launched on 10th September 2020 by the SBP.
The increase in remittances is a clear sign that the non-resident Pakistanis (NRPs) are willing to invest in Pakistan and the government is providing them with opportunities to do so.
High-rise buildings can help tackle the problems of growing urbanization and environmental pollution, as they consume less land than the conventional housing societies.
INP
