27
Dec

Naya Pakistan Authority Looks to Develop Part of Blue Area with CDA

The Naya Pakistan Housing and Development Authority is looking to develop a part of Blue Area on a partnership with the Capital Development Authority.


Islamabad: The Naya Pakistan Housing and Development Authority (NAPHDA) is looking to develop a joint venture with the Capital Development Authority on Blue Area Islamabad that is now an acquired commercial area belonging to the latter.

The land available in this area is one of the biggest sources of revenue for CDA through which the authority has generated billions of rupees by auctioning commercial plots. The authority majorly depends on its land inventory to generate funds for its development and non-development expenses.

According to the news sources, the NAPHDA has asked the Cabinet Division through a proposal letter to seek input from the Ministry of Law and Justice to begin and public-public partnership. In response to the letter, the CDA officials have said that they have shared the details of land in Blue Area with the Cabinet Division. Further development on the matter will disclose soon.