Islamabad: Prime Minister Shehbaz Sharif has given the green light to a new residential project, Orchard View for Overseas Pakistanis, a news source reported on July 23.
Situated along the picturesque banks of the Korang River, this development aims to offer state-of-the-art facilities and luxurious living standards. The approved project will feature 3,000 villas and luxury apartments, equipped with the latest amenities to ensure a comfortable and modern lifestyle for its residents. The Capital Development Authority (CDA) has allocated 1,400 Kanal of prime land for the project, which stretches from Islamabad Club to Margalla Town Phase II.
These properties will be offered exclusively to overseas Pakistanis at discounted prices, with payments required in dollars to help boost the country’s foreign exchange reserves. This initiative is not just a residential development but a strategic move to attract foreign investment and enhance Pakistan’s economic stability.
Moreover, the project is expected to generate a substantial profit of PKR 180 billion for the CDA. Remarkably, the project will be executed on a joint venture basis, ensuring that there is no financial burden on the CDA. This innovative approach allows the CDA to benefit financially while sharing the development risks and rewards with private partners. The project timeline is ambitious yet achievable, with completion expected within 18 to 24 months.
A unique feature of the Orchard View project is the plan to import special technology plants to purify and enhance the Korang River. This aspect of the project is critical as it aims to transform the river into a scenic waterway, preventing it from turning into a sewer due to neglect and encroachments. The purification and enhancement efforts will involve advanced technology to ensure the river remains clean and vibrant, adding to the overall aesthetic and environmental value of the area.
The project promises not only luxurious living spaces but also a significant environmental uplift for the Korang River area. The transformation of the river into a scenic and clean waterway will be a major attraction for both residents and visitors, enhancing the overall appeal of Islamabad.
Prime Minister Shehbaz Sharif’s approval of the Orchard View project marks a significant step towards providing high-quality residential options for overseas Pakistanis, boosting the country’s economy, and improving environmental conditions. This visionary project reflects a commitment to sustainable development and economic growth, benefiting both the local and overseas Pakistani communities.
