Earlier this month, Prime Minister Imran Khan initiated the Korangi Bridge-PWD Interchange at Islamabad Expressway and Rawal Dam Chowk Interchange — one of several infrastructure projects initiated for the twin cities of Islamabad and Rawalpindi. Not many people are aware that a functional transport system and proper road infrastructure is the key to making any development project successful. Therefore, the initiation of such projects shows that Imran Khan is well versed with the idea of development.
Access to the city is an important factor in determining the cost, value and reselling rate of a property within its domain. Thus, real estate projects located around or near any major roads are always considered to be high value projects. The Grand Trunk Road is a perfect example of this because many renowned developers are busy in developing their projects on either side of it. For tourists and other foreign visitors, such projects make for an impressive sight. Real estate investors will have an incentive to invest in the twin cities knowing that they are connected through an efficient road network while individuals and buyers will also be more likely to purchase properties in such housing communities.
Needless to say, road infrastructure is a financial asset to the economy as it increases access to health and education services while also providing employment opportunities. These projects will in the future prove to be a crucial contribution to economic development.
Syed Zohaib Ahmed
Islamabad
Published in The Express Tribune, August 19th, 2020.
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