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Discussion Starter · #1 ·
DHA Islamabad attracts Rs44bn FDI

ISLAMABAD, 29 MARCH: Defence Housing Authority (DHA) Islamabad will launch its Phase-I extension programme next week inviting Rs44 billion Foreign Direct Investment (FDI) on the development side, stated Brig.® Zahid Waheed Butt while addressing the media people in a local hotel here on Monday.

Brigadier added that the project is meant to provide housing facility to the widows and orphans of martyrs, civil citizens, bureaucrats and journalists.

Brigadier stated that they would offer a 500 sq. yard plot of Rs4 million market value for Rs1 million including development cost. "We have fixed quota for the various categories while journalists would be provided five percent quota of the total 95,000 plots on 1200 acres under phase-I extension," he added.

DHA had made two contracts recently with Dubai and Malaysian firms that would develop the area at a cost of Rs44 billion he said. In addition the DHA Islamabad had also made contracts with a Dubai firm to construct multi-storey buildings, almost 25 floor high, in Islamabad at an estimated cost of Rs60 billion in the second and third phase that would be complete in FY05-06.

These buildings would be located near the GT Road that had been named after Sheikh Zayed, "the road would be built exactly like Sheikh Zayed Road of Dubai." He added that at least 10,000 new houses would be built on 2500 acres in the next fiscal.

He informed that DHA has made contracts with United Bank (UBL) and Bank-Al-Falah for mortgage financing at 2 per cent mark up. "If you buy a plot in DHAI the banks are going to build the house for you," he said.

Pakistan-born-US-citizens have expressed interest in establishing a hospital on European and American standards with a cost of $50 million in Islamabad, added the Brigadier.

He said that after ballotting the development cost would remain the same and increased rates would be borne by the authority. "We had charged Rs250000 at the time of booking in Phase-II that increased to Rs340000 at the time of construction but no extra money was charged from the members," he said.

Replying to a question, he said that only the working journalists would be included in the balloting of the plots whereas columnists do not come under this definition.
 

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Construction Paradise
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i wouldn't describe it as a copy
it will just have the same lay-out maybe
two rows of towers along a highway

i actually love such "thin" skylines. it's great to drive through it
too many cities have these messed up skylines with high-rise buildings everywhere and this type of skyline is just a row
 

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Discussion Starter · #6 ·
Btw, its the Al-Ghurair Group that is investing in the project. Al Ghurair bought the land off DHA (Defence Housing Authority), and had highrises planned in the area, so the Pakistan Govt decided that, since its a UAE based investor, the project should be more of a tribute to the great UAE leader, and a friend of our Nation, Sheikh Zayed.

So they came up with the idea of a similar road to SZR in Capital Territory. :)
 

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Discussion Starter · #10 ·
The road would be called Shah-e-Al-Nahayyan

Here's bits from the news:

Dubai builders to invest $1.8bn in housing

He said that Al-Ghurair Giga which is one of the biggest real estate developers in the world has entered into an agreement with the Authority to develop high rise apartments at a cost of Rs44 billion ($800 million).

Mr Butt said that the name of G T Road at a portion where the group is going to develop large commercial area at a cost of Rs2.5 billion will be changed to Shah-e-Al-Nahayyan. They will also construct houses and dispose them of to sellers which will need around Rs40 billion.
 

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this isnt a copy. its only a name of a street... In egypt 200 years ago a pasha went to paris and liked it and made the replica in cairo egypt, its the district next to al-zamalik its very famous in egypt, THAT! was a replica this isnt a copy..
 

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i think its a great idea and a great tribute!
a side from that a terrific advert for dubai and abu dhabi,

hopefully it will be a great road in pakistan,
and replicate dubais success [up to 25 fls, hopefully no more than BD!]
 

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Discussion Starter · #13 ·
GT Road was built by Sher Shah Surri. He was a great ruler, and King. The road was built 400 years ago, and it still stands today, and spans across South Asia. Its been upgraded, and other parts of the road are also being upgraded in Pakistan.

Pakistan has changed a lot in five years, we have really good roads, and lots of them planned, and this one would just add to the beauty! :D
 
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