RAWALPINDI: The Rawalpindi Development Authority (RDA) has created a strategy to boost its revenue streams through commercial real estate projects that will be constructed on all plots owned by the RDA.
The RDA Director General Saif Anwar Jappa has launched a strategy to begin commercial projects on all its owned plots to stabilize its financial situation, initiate development initiatives with its funds, and become economically self-sufficient.
Furthermore, RDA has identified all commercial plots owned by the authority around the city to construct shops and offices.
The RDA is also reviewing the development of parking lots on its land in other parts of the city.
The auction procedure for awarding the contract for the construction of the three-floor parking of the unfinished parking plaza at Fawara Chowk will now also be completed by the building’s maximum capacity and market pricing.
RDA Mega Complex
Alongside, creating a significant business hub near Murree Road, Liaquat Bagh, the RDA Mega Complex project will resume after being stalled last year.
According to sources, the RDA Mega Complex will be built adjacent to the parking plaza at Fawara Chowk, which will have three additional floors to resolve the city’s parking concerns.
Before awarding the parking contract, RDA has decided to survey the building’s capacity and market price for the basement, ground, and first floors of the parking plaza.
Although the foundation stone of the complex project was laid at the authority’s old building on June 4, 2005, the project’s construction work was stalled due to a lack of resources available to the RDA.
According to the details, the building will be rented out for shops and offices, and the contract for the construction of the project will soon be awarded.
Additionally, the design of the project has been prepared by the Land Utilisation and Building Control Department under the direction of Director Jamshed Aftab.
