Karachi: The Association of Builders and Developers (ABAD) has announced the reservation of funds worth PKR 1 billion for setting up affordable housing schemes in Pakistan, reported a news source. The seed fund has been generated by members of the association and Arif Habib Group.
The announcement of reserving PKR 1 billion funds was made by ABAD Chairman Arif Yousaf Jeewa on Saturday at the launching ceremony of the website for Affordable Housing Advisor Centre for Affordable Settlements and Housing.
ABAD had earlier proposed to build affordable houses initially in Karachi and Islamabad and later expand the project to other parts of the country. According to Jeewa, ABBAD will build houses sized 120 square yards at a cost of PKR 1.9 million, for which they have requested the government to provide connections for electricity, gas and water supply on subsidized tariffs. So far, the request hasn’t been accepted.
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