Capital Development Authority plans to launch major commercial area on G.T. Road
ISLAMABAD: The Capital Development Authority (CDA) is planning to launch a new major commercial area along the G.T. Road, which has the potential to generate a whopping overRs 500 billion for the civic body. Sources said that on the direction of the CDA Chairman Sohail Ashraf, CDA teams are working on this project which is expected to be launched in coming months. “If this project is sold out…
The Capital Development Authority (CDA) in Islamabad is set to unveil a major commercial area along the G.T. Road, with the potential to generate over Rs 500 billion for the civic body. This project, directed by CDA Chairman Sohail Ashraf, involves working on a 16-km stretch of G.T. Road from EME College to the Nicholson Monument, purchased by CDA in 1967.
The acquisition, spread over 3550 kanals, has leftover land amounting to 2000 kanals, assessable for development. If each square yard of this land is sold at Rs 7.5 lakh, the entire project could generate over Rs 500 billion, once developed. The project will be launched gradually, with the current focus on removing existing encroachments, estimated at over 100 permanent buildings.
The Interior Minister, Mohsin Naqvi, has given full support to CDA in retrieving state land from illegal occupation. The project also aligns with the need for additional fuel stations, given NHA's expansion on the same G.T. Road, which is the property of the National Highway Authority (NHA).
Written by urgent.news from Dawn - Pakistan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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