CDA attaining financial sustainability, gets possession of 59 flats

Islamabad: Capital Development Authority (CDA) is gradually attaining financial stability, exploring new avenues of revenue generation and steps have taken to resolve long standing issues pertaining to projects which were initiated in the past for revenue generation.

In this connection, as result of consistent efforts of the CDA management, possession of 59 flats, constructed by FGEHA in Sector G-11/3 worth around Rs1 billion has been handed over to the CDA. Total 96 flats were constructed in sector G-11/3 by the FGEHA, out of these 36 flats were sold by the FGEHA while 60 flats were to be handed over to CDA.

In the past, due to non-consensus on different issues between CDA and FGEHA, the matter remained pended and no decision in this regard could be taken. However, the incumbent management in line with its efforts to make the authorityfinancially sustainable took up the matter. In this connection meeting was also held between chairman CDA and DG, FGEHA.

As result of the efforts, consensus was made that 60 flats would be handed over to CDA in line with the actual spirit of the project. As result of serious and consistent efforts, possession of 59 flats in sector G-11/3 constructed by Federal Government Employees Housing Authority (FGEHA) was handed over to CDA in ceremony held here on Friday.

The ceremony was attended by the Members National Assembly from Islamabad, Asad Umer and Ali Nawaz Awan. The Director Maintenance officially taken over possession of 59 flats, in the presence of both the MNAs, Member Engineering and officers of FGEHA.

However, possession of remaining one flat will also be handed over to CDA in next few days. It is pertinent to mention here that due to surroundings, these flats are located at prime location and it is expected that this step will help enhance revenue of the authority.