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The joint venture between DHA and Globaco did not end well, with the latter coming under fire for fraud. Many investors have been waiting for a resolution for a while now. Recently, the National Accountability Bureau (NAB) reportedly confiscated around 1,300 kanals of land from Globaco CEO Hammad Arshad.<\/p>\n
The move is expected to leave a good impact on the project, but this impact will not be reflected in the asking price of DHA City\u2019s plot files, since the authority has blocked file transfer.<\/p>\n
Recent Developments<\/strong><\/p>\n According to a news report, NAB is now discussing a settlement issue between Globaco and DHA, after confiscating land from the former. In addition, NAB is also planning to write a letter to the interior ministry about issuing a red warrant against Kamran Kayani and Tariq Siddique because of their involvement in the case. The case is moving along with every passing day, and it is possible that a verdict will be announced soon.<\/p>\n Current status<\/strong><\/p>\n In terms of demand and market price, no activity has been noticed for DHA City plot files, essentially because they cannot be traded formally. Some people were seen buying these files on affidavits by making partial payment \u2013 however, that practice, too, stopped later.<\/p>\n The lack of noise in the market does not allude to the fact that stakeholders have forgotten about the DHA City issue. If anything, file owners have been staging demonstrations on a regular basis outside DHA Lahore\u2019s office in Phase VI.<\/p>\n DHA\u2019s stance<\/strong><\/p>\n DHA projects in Lahore enjoy huge public trust and the authority has maintained their trust by developing a transparent transfer and record system. Moreover, it seems the authority only manages to find itself in hot waters when it collaborates with other entities in the market. Despite all this, the authority has been trying to resolve the case by moving NAB against Globaco.<\/p>\n After a recent protest, a DHA official relayed that the authority intends to give on-ground plots to the DHA City\u2019s plot file owners. This announcement killed rumours that file owners will be offered a money-back deal. The situation is complicated for file owners who have been stuck with their property in the middle of nowhere.<\/p>\n What to expect?<\/strong> While file owners are waiting for a resolution, the one thing we know for sure is that the issue will be resolved eventually. The authority will not allow its credibility to be tarnished by leaving investors out in the cold. NAB\u2019s findings are expected soon, which means that a resolution may well be in sight.<\/p>\n A lot of DHA City Lahore file owners who we have spoken to have shown their unwillingness to sell in minus rates. This is because of the surety that the issue will find a solution eventually.<\/p>\n Are you a DHA City Lahore investor? Have an interest in how this case has been progressing? Sound off in the comments section below!<\/p>\n","protected":false},"excerpt":{"rendered":" The joint venture between DHA and Globaco did not end well, with the latter coming under fire for fraud. Many investors have been waiting for a resolution for a while now. Recently, the National Accountability Bureau (NAB) reportedly confiscated around 1,300 kanals of land from Globaco CEO Hammad Arshad. The move is expected to leave a good impact on the project, but this impact will not be reflected in the asking price of DHA City\u2019s plot files, since the authority has blocked file transfer. Recent Developments According to a news report, NAB is now discussing a settlement issue between Globaco and DHA, after confiscating land from the former. In addition, NAB is also planning to write a letter to the interior ministry about issuing a red warrant against Kamran Kayani and Tariq Siddique because of their involvement in the case. The case is moving along with every passing day, and it is possible that a verdict will be announced soon. Current status In terms of demand and market price, no activity has been noticed for DHA City plot files, essentially because they cannot be traded formally. Some people were seen buying these files on affidavits by making partial payment \u2013…<\/p>\n","protected":false},"author":18,"featured_media":26890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15019],"tags":[3023],"persona":[],"class_list":{"0":"post-26889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-research-analysis","9":"tag-latest-update-on-dha-city-lahore","10":"cat-15016-id","11":"cat-15019-id"},"acf":[],"yoast_head":"\n