The Special Investment Facilitation Council (SIFC) has requested the Capital Development Authority (CDA) to replace government houses with high-rise buildings to generate billions of rupees for the national exchequer, several media outlets reported.
The development comes after the Pakistan Institute of Development Economics (PIDE) proposed CDA to consider vertical housing on state-owned land in the federal capital.
The PIDE stated that in the G-6/1 area, 86 acres of land are occupied by single-story government houses, and with vertical construction, it could free 77 acres generating an estimated income of Rs55 billion for CDA.
Due to the presence of these single-story houses, a huge chunk of state land is underutilized. The matter was taken by SIFC who wrote an official letter to CDA seeking comments on the issue, particularly about G-6/1.
The SIF letter further added that similar single-story houses have been built in various sectors of Islamabad such as F-6, G-6, and G-7. “If such single-story houses allotted to federal secretaries and other bureaucrats are demolished, dozens of high-rise buildings could be constructed on these government lands,” the letter wrote as reported by Dawn.
The letter, reported by the publication, stated, “By converting single-story houses into six high-rise buildings, up to 77 acres could be freed, potentially generating 55.2 billion in revenue and raising annual GDP by 0.09pc.”
“This strategy already applied by countries like the UK and India requires a strategic shift in Pakistan. Establishing a centerlised database for state-held land, accurately valuing these assets, and involving asset management experts can help unlock this dormant potential, fostering economic activity and addressing urban needs through efficient, vertical development,” read the letter.
