Prime Minister Shehbaz Sharif has initiated an investigation into the Capital Development Authority (CDA) for launching the Nilore Heights project without addressing certain issues.
The housing scheme, in collaboration with the Naya Pakistan Housing Development Authority (NPHDA), involved the allocation of CDA’s land and funds.
Initially, the CDA planned to sell 2,000 apartments exclusively to overseas Pakistanis, but the NPHDA had already allocated some apartments to low-income individuals. The government supported the CDA’s move to sell these flats to expatriates to boost foreign exchange reserves.
However, the project faced a setback when a case was filed against the CDA’s planned balloting in the Islamabad High Court, leading to the postponement of the balloting scheduled for May 16.
The premier expressed dissatisfaction with the CDA’s failure to address the issues before launching the project. He ordered an inquiry and instructed his aide Ahad Cheema to form an inquiry committee. Finance Minister Ishaq Dar also expressed concerns regarding the CDA during the meeting.
Meanwhile, the housing project for overseas Pakistanis received significant interest, with around 7,000 applications for the 2,000 apartments in the first phase. The balloting, however, could not take place due to the litigation.
The CDA planned to sell 2,000 apartments in the first phase and will have approximately 2,400 apartments available for sale in the upcoming second phase.
Originally named the ‘Farash Town’ apartment scheme in 2021, the project was later renamed Nilore Heights. The CDA also decided to seek disassociation of the NPHDA from the project as it did not share the project’s cost with the CDA.
