KARACHI: With work on infrastructure development being in full swing, the first phase of Naya Nazimabad residential project will be completed as per commitment of the developer, Javedan Corporation Limited, and sponsors Arif Habib Group, AKD and Ghani Usman Hum Group which have a track record of delivering major projects worth over Rs150 billion on time.

As part of a false and malicious campaign against this project, it was alleged that the National Accountability Bureau (NAB) had issued notices to the JCL, its sponsors and directors, alleging that the housing scheme was being developed on mining lease land. “But the fact is that no such notice has ever been issued by NAB. It is also important to note that the status of the land since its sale through the privatisation process remains unchanged and no part of the mining lease land has been utilised for this project. The project is being developed on freehold and 99-year leasehold land,” a statement issued by the developers added.

It said environmental assessment was carried out and permission was obtained from all regulatory authorities and utility suppliers for the planning, development and sale of the modern housing scheme.