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Chinese group offers $1bn investment in housing sector

Updated October 26, 2014

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Investors laud decision of K-P government to launch mega housing schemes equipped with all basic civic amenities. Photo by REUTERS
Investors laud decision of K-P government to launch mega housing schemes equipped with all basic civic amenities. Photo by REUTERS

PESHAWAR: A high-level team of Chinese investors called on Chief Minister Pervez Khattak at the CM Secretariat here on Saturday and offered $1 billion investment in two mega housing schemes in the province.

According to a handout, the group lauded decision of the provincial government to launch mega housing schemes equipped with all basic civic amenities, including safety and security in view of the residential requirements of the ever increasing population of the province. It assured the government of all-out support in implementation of the projects.

These projects include Mega Education City on M-1, Nowshera, Mega Sports City, Peshawar, New City Abbottabad and New City and Tourism Resort in Chitral.

During his talks with the group, led by CEO of Shanghai company Mr Ma Shi Jing, Mr Khattak said that both the mega projects would be big cities with all housing facilities and availability of basic amenities, but these are named as education and sports cities.

CM’s adviser on housing Amjad Khan, parliamentary secretary for planning and development Khaleequr Rehman, adviser on investment Dilroze Khan, chief secretary Amjad Ali Khan, secretary housing engineer Zahid Arif, and high-ups of the relevant departments were also present on the occasion.

The chief minister said that new housing schemes were the need of the hour to meet residential requirements of the growing population and reduce pressure on the urban localities.

He welcomed the offer of the Chinese company for the big investment in housing sector of the province and informed it that all schemes were planned to be of international standard equipped with all modern civic facilities.

Published in Dawn, October 26th, 2014