New Blue Area Commercial City Islamabad is approved by Prime Minister Imran Khan within the limits of federal capital Islamabad. In front of F-9 Park in capital city the government has allocated 170 canal piece of land for this mega project. This project will offer jobs and will also attract investments from International Pakistanis said by the Prime Minister of Pakistan. The government will be able to make first revenue of more than Rs 30 billion from this international standard mega project. Revenue gained by this project will be utilized on the society that is initially announced by the PM.
Yes I am talking about Naya Pakistan Housing Project that will provide shelter to poor and low income groups aimed at building low cost. This project will not only promote the construction sector but also help to generate employment in federal capital. This project will expedite commercial activities in Pakistan. Within the city the commercial space would be doubled by this project. The open auction of the land has been scheduled from April 14-16 briefed by the Prime Minister who visited the proposed site.
The existing commercial area is the most crowded market of Islamabad where businesses are exploiting earlier but due to the increase in population of Islamabad. Need arises for the development of new commercial area to adjust new business opportunities in central Islamabad. The exact location of New Blue Area has not recently been introduced by CDA. But we proposed that it would be planned right opposite to F-9 Park Islamabad. Reason behind the supposition of this location is that existing Blue Area is located along G-6, G-7, F-7 and F-6. We can notice many empty spaces on both sides of the roads while travelling along F-8 and F-9.
There are some commercial plazas being constructed here already. There are total 26 commercial plots for sales are available in this New Blue Area commercial project. The sale will be held in April 2020 and CDA is hoping to generate about 30 billion Rs by this mega project. About 5% revenue will be utilized on development and provision of facilities in this commercial area. New blue area is the prime location of Islamabad and has and has an enormous commercial value. Many commercial high rise projects will start after the auction of these commercial plots by CDA.
In terms of upcoming investments this is an important development by CDA. Like this other mega projects will also launch in Lahore and Karachi soon. Specific instructions are given to preserve trees as the construction begins. In the history of Islamabad this is the first time when the government has introduced a commercial zone.