Luxury hotels on the horizon for Islamabad

Projects aim to meet growing demand for premium accommodations

ISLAMABAD:

Capital Development Authority (CDA) Chairman Muhammad Ali Randhawa has discussed significant steps for the development of luxury hotels in Islamabad's prime locations.

A meeting was held via Zoom, included representatives from the Public Private Partnership Authority (P3A), consultants from AT Kearney and key CDA officials. The discussion centred on a recent feasibility study by AT Kearney, which presented multiple models for hotel development, such as land leases, joint ventures, and revenue-sharing schemes.

With tourism and business on the rise, these projects aim to meet the growing demand for premium accommodations in the capital, providing long-term economic benefits. Chairman Randhawa stressed the importance of selecting the most viable model while ensuring that the hotel plots are priced competitively, maintaining high construction standards to attract investment and enhance bankability.

Further analysis of the feasibility report will be conducted, with ongoing consultations between CDA and AT Kearney to finalise land pricing and construction costs. The meeting also covered the development of other projects, including the Jinnah Medical Complex and the Gandhara Citizen Club, which will feature recreational facilities like a cricket ground and a library.

Revenue from these initiatives will go towards citizen welfare and park upgrades. The collaboration between CDA and P3A is seen as a strategic move to draw private sector investment, spurring economic growth and elevating Islamabad's infrastructure and global appeal.

As these luxury hotel projects progress, they are expected to not only enhance the city's hospitality landscape but also create job opportunities for local residents, further contributing to the overall development of the region.