Pakistan

Prime Minister Imran Khan was told that the Chinese government and companies were keen to invest $ 3 billion in the Ravi City project in Lahore and that the investment did not include any kind of loan. PM informed that ANGCC - a Global Investment Consortium, had also offered to invest $ 5 billion in the project on partnership basis. The prime minister, who was presiding over a meeting of the working...

Pakistan Government has finalized and approved the 'Gwadar Smart City Master Plan' under CPEC plans. The master plan has been prepared by the Chinese state-owned company China Communications Construction Company along with Pakistan’s Minister of Planning and Development, and Gwadar Development Authority. According to reports, Gwadar’s economic output is expected to exceed $30 billion, while...

Lahore Development Authority (LDA) has approved the construction of 4,000 apartments under Phase 1 of the Naya Pakistan Housing Scheme. This project will cost approximately Rs. 10 billion and citizens will receive prior facilitation to buy the apartments. All the citizens who would be provided mortgage facility by Naya Pakistan Housing Authority and the commercial banks will now be eligible for...

Green Line Bus Rapid Transit (BRT) project in Karachi that began in 2016 will be completed by July 2021. The Green Line BRT project was initiated in early 2016, with the estimated cost was Rs25 billion, under the supervision of the Sindh Infrastructure Development Company Limited (SIDCL), a federal entity. Original plans envisioned development work would be complete by the end of 2017, but frequent...

The KPK CM approved the establishment of the first-ever sports city of the country in the Regi Model Town Peshawar, under the management of KP Sports Directorate. The project is estimated to cost around one billion rupees to build. Chief Minister Mahmood Khan was chairing a meeting of the K-P Sports Directorate-General for setting up the Sports City. The CM directed to immediately commence work on...

The Rashakai SEZ, launched by the Prime Minister Imran Khan in May 2019, is the first CPEC industrial cooperation flagship project. Concession Agreement between KPEZDMC and Chinese developer corporation has been signed in April 2019. Development agreement has been signed on 14th September, 2020. Groundbreaking of the SEZ is planned during the high-level visit of Chinese President to...

The government of Pakistan has reduced interest rate by 90% for low-cost houses, while the banks are providing loans on 5% mark-up for 5 marla houses and 7% for 10 marla houses. For this purpose, the loans are being provided by various banks which have also established special desks named “Mera Pakistan Mera Ghar” to facilitate the customers for availing loans and providing information regarding...

Four consortiums of international town planning firms, having representatives of 11 companies submitted bids for Islamabad Master plan, reported by Dawn News. “The response of international firms is very good. Four consortiums have submitted their bids and after one month we will open the financial bids to award contract to the lowest bidder,” said a senior officer of the CDA. He said the...

There are plenty of options to invest in the property sector in the city of lights, the largest and most populous city of Pakistan – Karachi. It is spread over an area of 3,782 km sq., home to over 19 million people. Located on the eastern coast of the Arabian Sea, just northwest of the Indus river delta, Karachi is home to Pakistan’s two largest seaports, the Port of Karachi and Port Bin Qasim. It...

The SBCA has a proper e-portal system, which is linked to all the land owing agencies of Karachi. When the building plan of any plot comes to the Single Window Facility of SBCA for approval, the Authority wants the verification of its layout plan by the Master Plan Department (MPD) of the relevant land-owing agency along with the name of the person it has been allotted to. The MPD of the land owing...