FGEHA to finalise joint venture with private partners

Will construct apartments in Islamabad, Lahore and Karachi

ISLAMABAD: Under the New Pakistan Housing Programme, the Federal Government Employees Housing Authority (FGEHA) has decided to finalise the joint venture with private partners for apartment schemes in Islamabad, Lahore, and Karachi.

The price of a three-bedroom apartment in Lahore is likely to be Rs10.11 million, in Rawalpindi Rs9.8 million and in Karachi Rs10.17 million.
According to official documents, in order to provide homes to the homeless under the New Pakistan Housing Programme, the federal government is giving final shape to the agreements with private partners for residential schemes in Islamabad, Lahore, and Karachi.

Currently, the FGEHA has shortlisted four to five private partners under the federal government’s joint venture policy.

In Bajnial, Rawalpindi, an apartment scheme on 225 Kanal would be constructed. There would be a total of 3,601 flats in this scheme. The cost of a two-bedroom apartment on 1,100 square feet would be Rs7.2 million.

In Bedian, Lahore, a scheme on 30 Kanal would be undertaken. The cost of a two-bedroom apartment on 1,150 square feet would be Rs7.130 million. The cost of 900 square feet one-bedroom apartment would be Rs5.580 million.
Similarly, in Karachi, a scheme based on 210 Kanal was under examination in Mangho Pir, Surjani Town.

The price of a three-bedroom apartment on 1,566 square feet would be Rs10.1 million. The price of a two-bedroom apartment on 1,396 square feet would be Rs9 million.