Islamabad: The government has earmarked 50 acres of land for a new residential apartment project launched for overseas Pakistanis at Park Road, Zone-4, news sources reported. The USD 700 million housing project ‘Park Enclave Heights (Overseas Enclave)’ introduced under Roshan Digital Account (RDA) initiative aims to attract an investment of USD 2 billion.
The cabinet reportedly approved a summary titled ‘Residential Project for Overseas Pakistanis at Park Road, Zone-4, Islamabad under Roshan Digital Account Incentives’. The two-phase project will include 6,000 smart apartments ranging in size from 970 square feet (one room) to 2,300 square feet (5 rooms), as well as staff dormitories and a highly sophisticated, integrated building management system for security, utilities, and other civic amenities. The cabinet expressed hope that the state-of-the-art housing concept will bring a ‘paradigm shift in the urban design practises of Islamabad’.
The project will be carried out by the Islamabad Development Fund Limited (IDFL), and the government will employ global marketing firms to publicise it worldwide for the Pakistani diaspora. The government intends to use the Procurement Regulatory Authority (PPRA) procedures to hire these companies transparently through advertisement.
According to the details, the hired firm will be paid 1% of the entire income if the sale is successful. Marketing companies will be hired to advertise, market, sell and provide all ancillary services to prospective purchasers. The initiative is only for RDA-eligible overseas Pakistanis.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
