Pakistan News

PM Imran Khan launches multi-billion Blue Area commercial project

The planning of the first mega project of Pakistan Tehreek-e-Insaf Government has been completed and Prime Minister Imran Khan reached the site to review it.

According to details, plans to build a new commercial city in the federal capital Islamabad have been completed. Prime Minister Imran Khan reached the site to review the ‘New Blue Area’ project.

Prime Minister Imran Khan arrived at the site without protocol and security plan. Prime Minister reviewed the arrangements. The Prime Minister was briefed on the auction procedure.

The Prime Minister was briefed that 170 Kanals of land have been allocated for the project in front of F9 Park. The commercial city will be built on a global scale based on modern construction and high rise building. Overseas Pakistanis will be invited to invest.

According to the briefing, there will be roadshows in major cities including London, Dubai, Manchester, Chicago, and Glasgow. The Federal Development Authority will hold a commercial auction in the first week of April.

In the light of the direction of the Prime Minister, it has been decided to facilitate the participants in the auction and the condition for paying full advance tax has been abolished. Successful bidders will receive 30 days to pay the amount. Overseas Pakistanis will be given adequate time for money management.

According to officials, the project will initially receive 25 to 30 billion rupees. The government will use some of the gains in the New Pakistan Housing Project and the money will be spent on building affordable houses for the homeless and the poor.