ISLAMABAD: The Federal Government Employees Housing Authority (FGEHA) has decided to re-tender the project for Kashmir Avenue Residences in Islamabad’s sector G-13.
Sources at FGEHA stated that after the re-tendering decision, the Kashmir Avenue Apartments are expected to encounter more delays.
Furthermore, the decision is anticipated to result in a stunning 100% price increase for the 1,450-unit project. Imran Khan, the former Prime Minister (PM), placed the project’s foundation stone in April 2019.
Although the contract was made during the previous administration, the construction was put on hold because of the escalating costs of iron and cement.
The contractors also claimed that the contract was not granted at the market rate and as a result, the dispute was brought before the court, which led the FGEHA to annul the contract.
Additionally, authorities from the Ministry of Housing and Works asserted that the Kashmir Avenue Apartment project would be re-tendered, doubling its cost and requiring allottees to pay more.
Even though the project was supposed to be completed by 2023, only 20% of it has reportedly been completed.
It is to note here that the project would have three towers, each with a basement, ground floor, and a total of 21 floors, according to the FGEHA.
