Blue Area – a bustling commercial and business of not only the twin cities but also Pakistan.
The lengthy corridor running along Islamabad’s Khayaban-e-Quaid-e-Azam (also known as Jinnah Avenue), is marked by commercial buildings, towering plazas and numerous shopping centres that house unlimited shops, restaurants and governmental and non-governmental offices.
To further facilitate the businesses, the Metro Bus Service was introduced in the area.
Due to the prime location, view and opportunities, the commercial hub of the federal capital crammed up due to thousands of businesses being operated in the region.
In a bid to accommodate new businesses in central Islamabad, as well as sort out the existing issues, the Capital Development Authority announced ‘Blue Area – New Vision’.
This initiative was unveiled by the Authority to provide a unique opportunity for the business community and investors to promote their businesses and brands in the newly developed business hub of the capital.
Under this initiative, the authority earmarked 24 plots that will be auctioned by the Capitol on July 15, 16 and 17 as an incentivised package.
The ‘Blue Area, New Vision’ bidding process will be held under the Prime Minister’s vision of Naya Pakistan at the Jinnah Convention Centre, Islamabad.
In regard to this, CDA organized a webinar titled ‘Blue Area- New Vision’ to discuss the urban development challenges faced in Islamabad as well how to overcome these roadblocks with the New Blue Area Project underway.
Graana.com gives an insightful perspective of the webinar, attended by a few of the top authorities.
This initiative will serve as an opportunity for investors and businesses to promote businesses in the commercial hub of the federal capital.
Shahid Mehmood | Member Planning and Design CDA
Invited to talk about the details of the project, Mr Shahid revealed the incentivised package to accommodate businessmen and promote economic activity in the area.
The announced project is located in the G-9 sector, opposite F-9 Park in Islamabad.
The incentivised package approved several measures, including 10% discount on full payment in advance, the first instalment of 25% within 30 days of the bid acceptance letter issuance, providing building plan approval facility after first instalment and construction to start on full payment, advance income tax on pro-rata basis, 100% coverage for less than 1000 Sq. yd. plots, 70-75% ground coverage for plots above 1000 Sq. yd, every plot to have circulation strips, increased Floor Area Ratio (F.A.R) and ample public parking and application of newly developed building bylaws.
He highlighted the importance of the project, as it will accommodate the business and construction sector and generate economic activity.
It is an important project for Islamabad, as well as the construction industry.
Lt. General (Retd) Anwer Ali Haider | Chairman Naya Pakistan Housing Authority
While giving his two cents on the project, Chairman NAHDA appreciated the government’s efforts to facilitate the housing and construction industry through this project.
The auction of 24 plots will be 24 different construction opportunities in this commercial hub will attract investors and builders from all around. This initiative proves to be a perfect opportunity to create employment and kick-start economic activity.
The New Blue Area Project ensures licensing facilitation, in an expedited manner, which proves to be a prime opportunity, especially for the Overseas Pakistanis.
Mr Sayed Z. Bukhari | Special Assistant to PM Pakistan, Imran Khan, Minister of Overseas Pakistanis and Human Resource Development.
Announcing to fully endorse this initiative, Mr Sayed Z. Bukhari highlighted how the Blue Area had become congested in terms of space and opportunities earlier.
However, through this initiative not only the beauty of the federal capital will be restored, but also this project offers to meet international standards by establishing a commercial hub at the prime location, with utmost business opportunities, being provided through the announced incentives.
This step is a vital step ensuring urban regeneration, especially in the Federal Capital.
Dr Tariq Habib | Member Pakistan Council of Architects and Town Planners
While appreciating the authority’s efforts, Dr Tariq Habib had highlighted some suggestions.
He highlighted that through this project a multipurpose area can be set up in the commercial hub. To achieve this, CDA should instead issue guidelines for the builders and investors to pitch ideas and to build projects missing in the area, including an IT Tower, Exports Towers, etc.
Along with development, this move could ensure a step in the right direction through assessment, creating unlimited opportunities for almost every sector.
The development of this project is aimed at providing prime commercial space to businesses.
Mr Amer Ali Ahmed | Chairman Capital Development Authority
Explaining the vision of the New Blue Area Project, Chairman CDA Mr Amer Ali Ahmed explained that the project and incentives are aimed at providing prime commercial space.
The salient features including circulation around plots, increased F.A.R were taken into careful consideration and deliberated on, only to break free from the traditional architecture.
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