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September 15, 2020

CPIC to invest in development sector

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APP
September 15, 2020

Islamabad:The award-winning international real estate developer, CPIC, has made major investment with acquisition of 27 million square feet land in line with Prime Minister Imran Khan’s vision for the overseas diaspora of the country.

The leading international developer CPIC Global have acquired a mega 27 million square foot swathe of land here in Islamabad under their new luxury property brand Diyár Homes as the company eyes expansion into Pakistan’s top tier cities.

“The acquisition comes as the group look to cement their position as the leading developer for overseas Pakistanis by expanding their land bank in Pakistan’s most prime locations,” the CPIC said in a statement.

Under the vision of Prime Minister Imran Khan, the CPIC under the Diyár Homes banner are set to develop the first ever resort-style master community for overseas Pakistanis and for that they carefully selected the capital as the key location to introduce this first of it’s kind development.

“We had a 72 point criteria ranging from accessibility, infrastructure, utilities and natural landscape to ownership status, which made it extremely difficult to acquire the type of land we were looking for whilst staying within the groups ethos of pioneering trust, transparency and sincerity to Pakistan’s real estate market” the CPIC said.

The project has been designed in line with Prime Minister Imran Khan’s vision of outreach to the Overseas Pakistani diaspora and attracting foreign direct investment into Pakistan.“The overseas Pakistani diaspora is a mega asset to Pakistan, it is amongst the strongest diasporas in the world with over 8 million living and working abroad,” the statement said.

The statement added that the overseas Pakistanis send back almost $40 billion a year to Pakistan and Prime Minister Imran Khan is rightly focusing on increasing engagement with the diaspora. Diyár Homes will bring the best of international living to Pakistan and give the overseas Pakistani diaspora a deserving home within their motherland.” The project which is currently in planning stages is expected to have a Gross Development Value in excess of $1.5 billion and will be launched in 2021 by Diyár Homes.