Govt says Islamabad's One Constitution Avenue to be turned into a five-star hotel
The federal government on Wednesday said that a joint investigation team had revealed that Islamabad’s One Constitution Avenue was built on “irregularities and rigging” and announced that the residential building will soon be turned into a five-star hotel. The building, a skyscraper in the federal capital that houses residential apartments, had its lease cancelled by the Capital Development…
The Islamabad government announced on Wednesday that the One Constitution Avenue, a once-planned five-star hotel, will be transformed into a luxury hotel due to irregularities and fraud uncovered by a joint investigation team. The building, which had its lease terminated by the Capital Development Authority due to the developer's default, was initially intended for a five-star hotel project but was later converted into residential apartments and commercial spaces.
Following mass evictions in May, Prime Minister Shehbaz Sharif formed a team to investigate the matter. The team's report revealed that the project was fraudulent, with irregularities in the bidding process and manipulation of rules. The planning minister stated that the CDA and certain individuals were complicit in the fraud, and recommended that the project be renamed, undergo a new auction, and be subject to strict security protocols to prevent future fraud.
The government aims to compensate those defrauded, refund their investments, and adjust payments against their Kibor interest.
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