The Capital Development Authority (CDA) has announced an ambitious plan to auction premium commercial plots for the development of 5-star hotels and launch residential plots in the scenic Sector C-14.
The initiative, unveiled during a meeting chaired by CDA Chairman Muhammad Ali Randhawa, on Thursday, aims to attract significant investments from both local and overseas Pakistanis.
The meeting, attended by CDA board members and senior officers, highlighted two prime plots earmarked for international bidding, specifically targeting overseas Pakistanis and global investors.
The bidding for these luxury hotel plots is set to conclude on 17 December 2024, and officials emphasized investor-friendly terms to maximize participation.
The CDA has introduced flexible payment plans, streamlined conditions, and various incentives to encourage investment.
Chairman Randhawa endorsed these measures, describing them as pivotal to transforming Islamabad into a global hub for tourism, business, and modern urban living.
“We are committed to positioning Islamabad as a beacon of luxury and progress, offering unparalleled opportunities for investors. Engaging overseas Pakistanis is key to this vision, and we will collaborate with embassies and missions abroad to highlight these lucrative opportunities,” Randhawa said.
The initiative also includes the launch of residential plots in Sector C-14, nestled at the foothills of the Margalla Hills. Designed for a premium lifestyle, this sector is tailored to cater to both local and overseas Pakistanis, with preference given to investments made in foreign currencies such as the US dollar.
With these strategic moves, the CDA is setting the stage for Islamabad to emerge as a premier destination for high-end developments, offering unique opportunities for investors worldwide.
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CDA has not able to hand over the possession to the owner of plots in E12 launched 38 years ago thus a big question mark over its commitment.