The Capital Development Authority (CDA) has revealed intentions to join forces with a private company for the establishment of a housing venture, according to a national daily. The envisioned ‘Kurri Enclave Housing Scheme’ is expected to cover an expansive 10,000 kanals in Kurri village.
Although the CDA holds ownership of the land, the initiative will be executed through a collaborative effort. With an estimated cost reaching into the billions, the CDA is contemplating collaboration with a prominent real estate developer or forming a consortium involving multiple firms.
The civic authority’s board has already given the green light to kickstart housing projects in partnership with the private sector. In a recent federal cabinet meeting, interim Prime Minister Anwaar-ul-Haq Kakar instructed the CDA to prioritize vertical development for residential endeavors in Islamabad, with the goal of maximizing the number of housing units. Previously, the CDA had solicited Expressions of Interest (EOIs) from reputable firms for the implementation of the Kurri Enclave Housing Scheme, whereby the selected real estate entity would be responsible for investing in the project’s development and planning.