02-17-2012, 03:11 PM
Blue Area extension plan to be revived
ISLAMABAD, Feb 14: The civic agency has decided to revive the Blue Area extension plan apparently to generate funds by auctioning commercial plots there.
The revival plan of the commercial hub is likely to be approved by the Capital Development Authority (CDA) board in its meeting on Wednesday.
“I hope that not only Blue Area extension plan but also other proposed projects will be approved in the meeting,” said CDA chairman Farkhand Iqbal.
He said a number of commercial plots would soon be auctioned to private companies for construction of high-rise plazas in Blue
Area.
“Under the plan, less than 20 storey buildings will be allowed in the area so that the trend of box-like two to four storey buildings could be changed,” he said.
An insider said the cash-strapped CDA was eyeing costly commercial plots in the area to generate funds.
The plan to extend the commercial area was made several years back. According to the proposal, initially Blue Area will be extended to Sector F-10 and later it will be stretched up to F-14.
The extension of the commercial centre was also a demand of the traders’ community. “It will boost commercial activities in the city,” said senior office-bearer of Blue Area Traders Association, Sohail Malik.
A separate proposal will also be discussed in the meeting regarding establishment of a media city and apartments in Diplomatic Enclave.
“High-rise media towers will be established in Diplomatic Enclave which will house all media groups, TV channels and newspapers. Besides, restaurants, hotels and commercial centres have also been proposed in the scheme,” the chairman said.
The CDA required three to four fund-generating schemes for handing over to the banks for launching municipal bonds. The project of media towers is one of such schemes.
The CDA had announced three years ago that it would launch municipal bonds to improve its financial health. A low income housing scheme in Zone-IV has also been planned and the proposal will also be discussed in the board meeting.
Other items to be discussed in the meeting include naming of a road after former minister for minority affairs Shahbaz Bhatti, allotment of residential plots as compensation for the built-up property of residents in I-10, issues pertaining to the claims of Multi-Professional Cooperative Housing Society in Northern Strip and construction of an aviary at Lakeview Park.
ISLAMABAD, Feb 14: The civic agency has decided to revive the Blue Area extension plan apparently to generate funds by auctioning commercial plots there.
The revival plan of the commercial hub is likely to be approved by the Capital Development Authority (CDA) board in its meeting on Wednesday.
“I hope that not only Blue Area extension plan but also other proposed projects will be approved in the meeting,” said CDA chairman Farkhand Iqbal.
He said a number of commercial plots would soon be auctioned to private companies for construction of high-rise plazas in Blue
Area.
“Under the plan, less than 20 storey buildings will be allowed in the area so that the trend of box-like two to four storey buildings could be changed,” he said.
An insider said the cash-strapped CDA was eyeing costly commercial plots in the area to generate funds.
The plan to extend the commercial area was made several years back. According to the proposal, initially Blue Area will be extended to Sector F-10 and later it will be stretched up to F-14.
The extension of the commercial centre was also a demand of the traders’ community. “It will boost commercial activities in the city,” said senior office-bearer of Blue Area Traders Association, Sohail Malik.
A separate proposal will also be discussed in the meeting regarding establishment of a media city and apartments in Diplomatic Enclave.
“High-rise media towers will be established in Diplomatic Enclave which will house all media groups, TV channels and newspapers. Besides, restaurants, hotels and commercial centres have also been proposed in the scheme,” the chairman said.
The CDA required three to four fund-generating schemes for handing over to the banks for launching municipal bonds. The project of media towers is one of such schemes.
The CDA had announced three years ago that it would launch municipal bonds to improve its financial health. A low income housing scheme in Zone-IV has also been planned and the proposal will also be discussed in the board meeting.
Other items to be discussed in the meeting include naming of a road after former minister for minority affairs Shahbaz Bhatti, allotment of residential plots as compensation for the built-up property of residents in I-10, issues pertaining to the claims of Multi-Professional Cooperative Housing Society in Northern Strip and construction of an aviary at Lakeview Park.