Islamabad: The federal government has asked the Capital Development Authority (CDA) to launch new housing schemes for expatriates, news sources reported on December 22.
The federal government has proposed a housing scheme plan to attract Foreign Direct Investment (FDI) and bolster its forex reserves. In this regard, the CDA has prepared a presentation for Prime Minister (PM) Shehbaz Sharif, which will outline the vision and the proposed outcomes of the plan.
The presentation will focus on the potential of two new housing projects, the Gandhara Enclave and the, as well as the revenue potential of the under-construction Nilor Heights Housing Project. The CDA is also set to auction off some commercial plots.
As per CDA sources, the Gandhara Enclave project falls in Zone I and partially in Zone III and has the potential to generate billions of rupees in revenue. The Kuri Housing Scheme is to be developed on 10,000 kanals and is also one of the largest projects in the country.
Moreover, to promote vertical development in the city, the CDA has acquired land worth billions of rupees and will seek to develop apartments. The federal government is supporting the CDA in order to launch at least two housing schemes. The plots will be sold to developers and investors, who will be required to build apartments.
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