Islamabad: The Capital Development Authority (CDA) Board has approved the formation of a Project Management Unit (PMU) for the New Islamabad Convention, Exhibition and Expo Centre (NICEEC) and reviewed a proposal to develop a stalled residential sector through a public-private partnership (PPP).
The decisions were taken at a board meeting chaired by CDA Chairman Sohail Ashraf, where members discussed a range of development projects and policy matters.
The PMU for the NICEEC was approved on the direction of Prime Minister Shehbaz Sharif to oversee the implementation of the project, which is being planned ahead of next year’s Shanghai Cooperation Organisation (SCO) conference.
The bidding process for the project is at an advanced stage, with financial bids scheduled to be opened on July 14. According to the project’s PC-I, the convention and expo centre carries an estimated cost of PKR 16 billion, with construction expected to be completed within 18 months.
The facility will be built near the Bhara Kahu Bypass in the Malpur area, around three kilometres from the existing Jinnah Convention Centre. Sources said a revised design is under consideration that would slightly reduce the covered area while increasing the height of the main hall.
The board also reviewed a proposal to develop one of Islamabad’s stalled residential sectors through a joint venture under a public-private partnership model. However, it directed the relevant authorities to conduct further studies before any agreement is finalised. The proposal is expected to be presented to the board again after additional evaluation.
Separately, the board discussed a proposed agreement with the Pakistan Cricket Board (PCB) under which the PCB would renovate and upgrade CDA sports grounds in exchange for using the facilities for its tournaments, while the CDA would retain access for the remainder of the year. The board sought further legal and financial review before taking a final decision.
In addition, the board approved, in principle and subject to federal government approval, the allotment of land in Sector G-11’s Mauve Area for an International Gemstone and Jewellery Crafts Exhibition Centre. It also gave in-principle approval for the establishment of a National History Museum near Malpur, adjacent to the proposed Safari Park.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
