ISLAMABAD: As many as 36 firms have shown interest in entering into a joint venture with the Capital Development Authority (CDA) for the construction of high-rise apartments in Sector E-11.
The CDA sources told ‘The News’ Friday that six companies from Malaysia and two from the United Arab Emirates are among those which have submitted ‘expressions of interest’ to take up the project.
A CDA official said that after scrutiny of ‘expressions of interest,’ the shortlisted companies would be asked to submit their proposals for the mega project of high-rise residential towers at a designated site in Sector E-11. "We have identified 70 acres of land for this project, first of its kind in Pakistan," he said.
Talking about the concept of the project, he said that all facilities within the project area, spread over 70 acres, would exclusively be used by the residents.
The official said that the profit earned from the project would be shared by the private company and the Capital Development Authority (CDA). "The government has allowed high towers in Sector E-11 up to the height of 150 feet which means that around 12-storey buildings can be constructed in this area," he said.
He said that the CDA intends to construct modern, well-planned up-market high-rise apartments having shopping centre and other facilities such as community centre, school, mosque, playfields, health centre in the northern acquired strip of land measuring about of 70 acres in Sector E-11 on joint venture basis.
He said that the selection of a company for the project would be taken on the basis of proposals and experience of the party in development of housing sector.