Islamabad: The China Pakistan Investment Corporation (CPIC) – a London-based real estate investment company – on Tuesday notified its acquisition of land in the capital city for developing real estate projects for overseas Pakistanis, a news source reported.
According to the details shared, the company has acquired 27 million square feet of land in Islamabad to commence with the development of apartments, villas, shopping malls, a five start hotel, a golf course, and a cinema facility. The company has a long-term development plan spanning over 10 years with a value of USD 1.5 billion.
As per sources, the London-based company has purchased the land as part of its new luxury brand called ‘Diyar Homes’. This project is meant to provide a first ever resort-style community for overseas Pakistanis.
A company spokesperson said that that the firm wanted to become the leading developer in Pakistan for expatriates and the latest acquisition was meant to expand its land bank in prime locations of the country.
Sources revealed that the firm’s land acquisition in Islamabad was in line with Prime Minister (PM) Imran Khan’s vision of engaging Pakistanis from around the globe in the country’s development.
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