CDA to develop housing scheme with participation of private firms

ISLAMABAD: The Capital Development Authority (CDA) has decided to develop a housing scheme with the participation of a private firm.

The housing scheme, to be named ‘Kurri Enclave Housing Scheme’, would be developed over an area of 10,000 kanals in Kurri village.

According to sources, the land is owned by the CDA but the project costing billions of rupees would be developed as a joint venture with some leading real estate developer or with a consortium of more than one firms.

The board of CDA had already given approval to launch and develop housing schemes with the participation of private sector.

The civic body had also invited Expression of Interests (EoIs) for the selection of reputed firms to execute the project. The selected real estate firm would make investment while developing and planning the project.

It may be pointed out here that the caretaker Prime Minister Anwaar-ul-Haq Kakar in the last federal cabinet meeting directed the CDA to opt for vertical development of residential projects to create the maximum housing units in Islamabad.