Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) has urged the Capital Development Authority (CDA) to prioritize infrastructure development ahead of the upcoming plot auctions at the Jinnah Convention Centre, Islamabad.
ICCI Acting President Faad Waheed expressed the need for comprehensive infrastructure and essential service development to accommodate investors better. Investors had previously faced challenges due to inadequate infrastructure and services despite making substantial investments in CDA’s commercial plots.
To address these issues, it was recommended that the CDA establish a one-stop facility to streamline the post-auction process and allocate auction revenue for market and industrial area development. Concerns were also raised about obtaining No Objection Certificates (NOCs) from the Environmental Protection Agency (EPA) for construction on auctioned plots, emphasizing the importance of a collaborative approach to defining building bylaws.
The CDA’s Director General, Faisla Naeem Baig, assured that these concerns would be addressed and committed to reinvesting auction proceeds in infrastructure development. Additionally, he pledged to create a one-stop facility for successful bidders for post-auction activities.
ICCI Vice President Engr. Azhar ul Islam Zafar highlighted the need for timely completion certificates for commercial buildings and improvements in the efficiency of the Estate Department to reduce delays for investors. The focus on infrastructure development aims to create a more investor-friendly environment in the Islamabad real estate market. For the latest Real Estate News and Blogs, visit Realtorspk blogs.