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Projects in Karachi, Quetta and Lahore to be Developed on Joint Venture Basis in NPHP

Real Estate News
18 Apr 2019
Projects in Karachi, Quetta and Lahore to be Developed on Joint Venture Basis in NPHP

Under Naya Pakistan Housing Programme, the low costing housing projects are going to be developed on a JV (joint venture) basis in Karachi, Quetta and Lahore, confirmed by Tariq Bashir Cheema, the Federal Minister for Housing and Development.

This piece of information was shared by the minister while he was addressing a ceremony that was held for awarding the possession letters to all the allottees of the PHA (Pakistan Housing Authority) Foundation Officers Residence. Nearly 580 government officers are provided with homes by PHA and their efforts were appreciated by the Minister for addressing the needs of the public with such effectiveness.

Tariq Cheema further added that PHA is going to provide residential assistance to the employees of Pakistan Police. He indicated that the financial regulatory authority is going to be formed for this prime purpose.

It is worth mentioning that a leading urban and infrastructure consultancy firm of Singapore has shown its keen interest in providing complete assistance to the government for the development of the low costing houses under the NPHP scheme. During a meeting with the Punjab Minister for Housing and Urban Development, Mian Mehmood-ur-Rasheed, this news was shared and confirmed by Hari Poologasungram who is the CEO of Surbana Jurong (SJ). It was a Singaporean delegation comprising of four members who presented several proposals that could help the government in the development of affordable houses under Naya Pakistan Housing Programme.

The Minister, Tariq Cheema told the news sources that the development of NPHP project work would be launching from Islamabad, whereas in Quetta, the work will commence from April 21st. He further revealed that an annual loan of 5% will be provided by the commercial banks for this housing sector scheme.

Also Read: PM Imran Khan to inaugurate five million housing project

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