The Capital Development Authority (CDA) has decided to construct a housing scheme in collaboration with a private firm, reported a national daily.
Quoting sources, the national daily reported that although the land is owned by the CDA, the project will be developed as a joint venture.
The board of civic authority has already granted approval to initiate and develop housing schemes with private sector participation.
Previously, CDA issued invitations for Expression of Interests (EoIs) to select reputable firms for the execution of the project
The selected real estate firm will be responsible for investing in the development and planning of the project.
It is pertinent to mention that during the last federal cabinet meeting, the caretaker Prime Minister Anwaar-ul-Haq Kakar ordered the authority to prioritize vertical development for residential projects in order to maximize the number of housing units in Islamabad.
