Mohsin Naqvi Announces Manhattan-Style City in Islamabad

Interior Minister Mohsin Naqvi has confirmed intends to auction substantial plots in Islamabad for high-rise hotels, shopping malls and residential complexes, with investors paying for the land through a share of their projects' inventory rather than an upfront payment.

Key points

• The plots would measure one, three or six acres, and buildings would have to reach a minimum height of 600 feet.
• While expanding Islamabad's residential and recreational facilities, he remarked the proposed developments aimed to attract foreign investment, particularly from Saudi Arabia.
• Naqvi remarked investors would be required to complete their projects within two years of approval.
• The administration has yet to decide whether the judge would be serving or retired.
• The project would operate under a separate set of laws, rules and standard operating procedures.

Speaking at the Saudi-Pak Real Estate Expo in Lahore on Friday, Naqvi remarked the auction would start at 15% of a project's inventory, with investors allowed to offer a higher share. The plots would measure one, three or six acres, and buildings would have to reach a minimum height of 600 feet. CDA Cancels Layout Plan of Tele Town Housing Scheme.

Naqvi remarked investors would be required to complete their projects within two years of approval. The Ministry of Interior would handle approvals through a one-window operation, with the process projected to take three to four weeks.

To address investors' reservations, the administration intends to establish a five-member auction committee comprising representatives of the National Accountability Bureau, Special Investment Facilitation Council and Federal Investigation Agency, along with the Capital Development Authority and a judge.

Meanwhile, the administration has yet to decide whether the judge would be serving or retired. Naqvi additionally unveiled intends to develop a Manhattan-style city on 1, 000 acres behind the Prime Minister's House, featuring residential and commercial complexes around a central park and lake.

Notably, the project would operate under a separate set of laws, rules and standard operating procedures. Additionally, the administration aims to build a 450-acre safari park in Islamabad. It naqvi described as potentially Asia's largest. Islamabad Changes Timings for FR-11 Feeder Bus Route.

While expanding Islamabad's residential and recreational facilities, he remarked the proposed developments aimed to attract foreign investment, particularly from Saudi Arabia. Stay Connected with ProPakistani. Obtain the latest news and stories wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.

In short, mohsin Naqvi Announces Manhattan is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.