Islamabad: Prime Minister (PM) Imran Khan on Sunday inaugurated the ‘New Blue Area’ commercial project for which the government has allotted 170 kanals of land opposite the F-9 Park, a news source reported. As per the publication, the revenue generated from this initiative will be utilised for the development of low-cost housing schemes and the provision of amenities in the capital city.
Capital Development Authority (CDA) Chairman Amir Ali Ahmed and Naya Pakistan Housing and Development Authority (NAPHDA) Chairman General (retired) Anwar Ali Haider gave briefings on the project.
According to the officials concerned, the plots allotted for the initiative will be auctioned off on April 14, 15 and 16. Moreover, a portion of the received revenue will be used to develop housing units through NAPHDA for the residents of legal slums in Islamabad.
To attract investors, the CDA offers an exclusive package that includes 10 percent rebate for paying the full amount and one month time instead of 10 days for paying the first installment of 25 percent on the agreed sum by the successful bidders. The prime minister also directed the officials to give advance tax exemption to those who participate in the auction.
The project aims to attract foreign investment, create jobs, and amplify
economic activity in the capital city. The authorities concerned have already
issued special instructions for the preservations of trees in the initiative.
The prime minister said that the government would introduce similar
projects in Karachi and Lahore in the coming days.
