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Home / Miscellaneous / New Blue Area Commercial project launched

New Blue Area Commercial project launched

ISLAMABAD: Prime Minister Imran Khan on Sunday launched the multibillion rupee Blue Area commercial project under which the land would be auctioned off and the revenue spent on rehabilitation of Islamabad and construction of low-cost housing units.

“This will not only provide jobs, but also attract investment from overseas Pakistanis,” the prime minister tweeted while sharing an image of being briefed about the project on site by the chairman CDA and chairman Naya Pakistan Housing and Development Authority (NAPHDA). The open auction of the land, located opposite F-9 Park, has beenscheduled from April 14 to 16.

The prime minister was apprised that receipts from the commercial auction would be utilized primarily for rehabilitation of Islamabad, provision of services and improvement of environment.

A chunk of the revenue would also be utilized for construction of low-cost housing particularly for provision of respectable accommodation to the residents of approved slums through the NAPHDA.

This initiative coupled with several incentives will encourage investment, result in job creation and speed up economic activity in the country. Particular instructions were given that trees should be preserved in this venture. The prime minister said one each such mega project would also be launched in Lahore and Karachi soon.

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