Work on uplift project to begin in two months
Work on the proposed Kuri Enclave project, covering 10,000 kanals in the federal capital, will commence within two months, sources said on Sunday.
The decision regarding the transaction advisor firm will be made on August 12, they said, adding that the firm would advise the Capital Development Authority (CDA) on the number and sizes of residential plots, apartments and commercial centres to be developed on the land.
CDA sources indicated that Kuri Enclave currently boasts better green locations than Sector F-6 in Islamabad. A total of 10 firms have registered for the mega project, and the chosen transaction advisory firm will submit a feasibility report to the CDA. This report will detail the number of residential and commercial plots, as well as apartments, that can be constructed. It will also recommend the most suitable company to be awarded the contract.
A senior CDA officer confirmed while talking to The Express Tribune that, according to CDAs procedures and rules, a residential sector covering 5,600 kanals will allocate 40 per cent of the land for parks, community centres, schools, colleges, hospitals, mosques and graveyards.
He further stated that after finalising the contract with the transaction advisory firm on August 12, it will be decided within two months which of the ten registered companies will be the most beneficial for the CDA.
The officer clarified that the CDA will not spend money on this project. Instead, the CDA will provide the 10,000 kanals of land and all development work will be carried out under a joint venture. The CDA will only provide developed plots to the concerned company instead of funds.