ISLAMABAD: The executive board of the Federal Government Employees Housing Authority (FGEHA) on Thursday directed the authority to take steps for the revival of Kashmir Apartment Project.

The board, which met with Secretary Housing and Works Dr Shahzad Khan Bangash in the chair, besides other agenda items discussed the slow progress of work on the project.

The board was told that work on the project was started in May 2020 and its completion time was three years - May 2023. Before the start of the project worth Rs15.7 billion, its foundation stone was laid by then prime minster Imran Khan in April 2019.

Later, the project was halted due to cost escalation. The FGEHA board was told that till date only 16 per cent work had been done.

“Yes, today board directed us to revive this project, now we will take further steps,” said an officer of FGEHA. Asked if the authority will revise the PC-I and will go for fresh tendering, the officer said various proposals and way forwards were presented before the board and the best option was okayed.

Revised PC-I cost could be Rs32.7bn compared to original estimate of Rs15.07b, says official

“In short, I can say we have been given a go ahead,” he said.

On the other hand, sources said upon execution of an amicable settlement agreement with the contractor in the light of 27th meeting of the executive board, now it was imperative to revisit the construction cost as per latest rate of Public Works Department. The sources said analysis of current status of allotment, receipt so far and outstanding amount of allottees also suggest that there was no other possible way to make the project financially viable and sustainable except cost/price enhancement.

“Keeping above in view, revised construction cost was estimated by the engineer as Rs29.411 billion. Based on such a cost, revised PC-I cost would be approximately Rs32.702 billion compared to the original PC-I cost of Rs15.07 billion,” said an officer of FGEHA.

He said three options were placed before the board: (a) increase in cost per square foot from Rs5070 to Rs11459 (b) readjustment of amenities like converting amenities at ground floor in block I &3 into saleable commercial area and (c) addition of one commercial floor.

“The board while directing revival of this project accepted one of above three mentioned proposals and we in minutes of the meeting will be formally conveyed,” said the FGEHA officer.

The project consists of three towers, each with a basement and ground plus 21 floors. The design consists of 1,467 apartments out of which 714 will have an area of 1,300 square feet each while 753 apartments will have an area of 11 square feet. The basements of the buildings will be reserved for car parking and the ground floors for amenities.

The executive board also approved swapping of a five-star hotel in Mauve Area of G-13, G-14 with a hospital plot in the nearest area to attract investors. Sources said the existing hotel plot being located at main junction was not feasible, but it was ideal for a hospital, therefore, the board approved swapping of these plots.

Similarly, the board also discussed issues of Park Road housing scheme of FGEHA and the Life Style Residency project, which is being executed by authority in a joint venture with a private firms in G-13.

Published in Dawn, January 12th, 2024