ISLAMABAD: On the banks of the Korang River, Prime Minister Shehbaz Sharif has approved the construction of a new residential development called Orchard View for Overseas Pakistanis.
Three thousand villas and opulent flats with cutting-edge amenities will be part of the project.
The project’s engagement of a global transaction advising firm with expertise in river view development has also been approved by the Capital Development Authority (CDA) Board.
Over the next few days, CDA will put out a call for expressions of interest from reputable multinational firms. The CDA anticipates making a total profit of Rs180 billion from the project.
The Express Tribune was informed by CDA sources that 1,400 kanals of land had been set aside for the Orchard View project. Starting at the Islamabad Club, the project will run beside the Korang River until Margalla Town Phase II. The completion of this residential project will be a joint venture, requiring no financial contribution from the CDA.
The goal is to finish this project in 18 to 24 months, and in order to reach that goal, work is being done around the clock.
A well-known company with experience in riverfront development will be given the contract for this project. The Korang River’s waters will be cleansed and revitalized, adding to their attractiveness with fish stocked in clear, pure water that will give locals a picturesque and enthralling perspective.
The Korang River’s waters will be made clear by importing plants with specialized technology. The goal of this project is to create a premier residential complex in Pakistan.
Furthermore, the concept considers the possibility that the Korang River could eventually become a drain due to land encroachments by the mafia along its banks, negligence, and other factors.
Following a thorough briefing on the matter to Prime Minister Shehbaz Sharif, CDA representatives suggested starting a housing project nearby. He gave the order to get to work right away.
Additional information from sources indicated that this project’s viability has been assessed and authorized. On the 1,400 kanals of land, the proposal calls for the construction of 2,000 opulent flats and 1,000 villas.
Pakistanis living abroad would be given access to these properties at a reduced cost. The payments will be made to the State Bank of Pakistan in US dollars, and the bank will use those funds to pay the CDA in Pakistani rupees, boosting the nation’s foreign exchange reserves.
The Express Tribune was informed by a top CDA officer that this initiative will not only clean the Korang River’s waters but also get rid of environmental contamination in the neighborhood.
