ISLAMABAD: A housing project launched by the Capital Development Authority (CDA) for overseas Pakistanis has received an overwhelming response, as at least 6,000 applications have been submitted by the expatriates against 2,000 apartments built as part of the Nilore Heights housing project.

The housing initiative was launched by the civic body on the instructions of the federal government to cater to expatriates in a bid to boost the foreign exchange reserves. A two-bed apartment is being sold by the CDA at a price of $30,000.

Finance Minister Ishaq Dar chaired a meeting regarding the civic body’s projects for overseas Pakistanis at the Finance Division on Wednesday and got a detailed briefing on the said housing projects in addition to some other upcoming projects as well. The meeting was apprised that the CDA initiated a number of short-term and medium-term housing projects for overseas Pakistanis.

“It was informed that one of these housing projects, namely Nilore Heights-I, is in the completion phase and over 6000 applications have been received from 81 countries for 2000 flats,” said a press release issued by the Ministry of Finance.

Dar directs CDA to hold balloting for Nilore Heights-I by May 8

The statement said that the finance minister emphasised the importance of overseas Pakistanis in the economic and financial development of the country and directed the CDA authorities to fast-track the development projects for overseas Pakistanis. He also directed the CDA to hold the balloting for the Nilore Heights-I project before May 8 instead of May 16.

The meeting was briefed on the provision of commercial and residential plots for overseas Pakistanis on an open auction basis.

It was informed that in the next phase registration for plots in C-14 and C-16 sectors for overseas Pakistanis will commence and in this regard special facilitation desks have been established in the CDA to facilitate the overseas Pakistanis.

CDA officials said that the civic agency would likely offer 100 plots of one kanal in C-14 and about 700 plots in C-16 exclusively for overseas Pakistanis. A final decision in this regard would be made in the next few days.

They said that both sectors are located in the foothills of the Margallas. According to the officials, the development work in Sector C-14 is already in progress while the CDA’s engineering wing is expected to call tenders for development work in C-16 by the next month.

Recently, the CDA published notice of pre-qualification of construction firms for the development of this sector. The finance minister directed for the auction of commercial plots and said that incentives should be extended to those investors who make the payment in US dollars as this would boost the exchange reserves.

The statement further said that CDA authorities were asked to maintain a transparent system for investors during the sale and purchase of property by ensuring maximum interaction using the digital platform developed for this purpose.

He called for the expedition of work on Kuri and Overseas Enclave projects and to finalise the scheme for the auction of C-14 and C-16 plots to expatriates by mid-May.

Published in Dawn, April 27th, 2023