Interior Minister Mohsin Naqvi on Friday unveiled the Islamabad high-rise plans, announcing that large plots in the capital will be auctioned for high-rise hotels, shopping malls and residential complexes without any upfront payment from investors. He also announced a Manhattan-style city on 1,000 acres behind the Prime Minister’s House and what he called Asia’s largest safari park.
Speaking at the Saudi-Pak Real Estate Expo in Lahore, Naqvi said the government would not ask investors for money for the land. Instead, it will take a share of each project’s inventory, with the auction bidding starting at 15 per cent of the inventory.
Islamabad high-rise plans: how the auction will work
Naqvi said plots of one, three and six acres will be offered for the high-rise projects. Every building must reach a minimum height of 600 feet, and each project must be completed within two years of approval. A second report on the event said the auctions are planned for December.
“The interesting thing is that it will be free of cost. We will not be asking for any money. We will go for inventory, and we will start the auction at 15% of the inventory. Then it will depend on the investor how much they offer us,” he said.
The government will impose two main conditions on investors: completion within two years of approval, and the minimum height requirement. Naqvi said approvals will run through a one-window operation at the Ministry of Interior, and no investor will need to visit any other office.
“We have only two demands: to complete the project within two years from the day of approval,” he said. “We can do it within three to four weeks, so the investor does not need to go to any other office.”
He said the government was also prioritising the security of Pakistani and foreign investors, and expressed confidence the planned developments would attract Saudi investors. The Islamabad commercial market has already seen large-scale activity this year, including the Rs500-billion CDA commercial project.
To prevent hurdles during project development, a five-member auction committee will oversee the process. It will include representatives of the National Accountability Bureau, the Special Investment Facilitation Council, the Federal Investigation Agency and the Capital Development Authority, along with a judge to head it. Naqvi said it had yet to be decided whether the judge would be serving or retired.
“All the stakeholders and those who could create hurdles for investors in the future will be part of the committee,” he said.
A Manhattan-style city behind the PM House
Naqvi also announced plans for a Manhattan-style city on 1,000 acres of land behind the Prime Minister’s House in Islamabad. The new district will feature residential and commercial complexes built around a central park and a lake.
“We are launching a Manhattan-style city in Islamabad, which will have a completely different set of laws, rules and standard operating procedures (SOPs),” he said. “It will be just like Manhattan, with a Central Park in the middle and a lake.”
Asia’s largest safari park in Islamabad?
The interior minister announced plans for “Asia’s largest safari park, spanning 450 acres in Islamabad”, saying the project would tap the country’s potential for entertainment and recreational facilities.
Naqvi cited a Punjab safari park rebuilt within six months with additional animals. He claimed the park’s annual auction value rose from Rs20 million to Rs680 million within a year, even though the facility had only half the planned animals.
“This is the potential we have for entertainment in Pakistan. Our people are eager for entertainment, but we lack facilities,” he said.
Frequently asked questions
What did Mohsin Naqvi announce for Islamabad?
At the Saudi-Pak Real Estate Expo in Lahore, Naqvi announced high-rise project auctions with no upfront payment, a Manhattan-style city on 1,000 acres behind the PM House, and a 450-acre safari park billed as Asia’s largest.
How will the high-rise plot auctions work?
The government will take a share of project inventory instead of cash for land, with bidding starting at 15 per cent of inventory. Plots come in one, three and six acres, buildings must be at least 600 feet tall, and projects must finish within two years.
Who will oversee the auctions?
A five-member committee with representatives from NAB, SIFC, FIA and CDA, headed by a judge, will oversee the auctions to prevent obstacles for investors.
