Dar okays housing projects for overseas Pakistanis to fetch $2bn.

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ISLAMABAD:(Report by Zeeshan Najam Khan) According to Ug News, Finance Minister Ishaq Dar has greenlighted four housing projects for overseas Pakistanis, directing the Capital Development Authority (CDA) for early execution of the projects.The finance minister ordered the CDA to ensure a fast track of the projects, adding that said international standards and transparency through the online system should be maintained.The projects include Nilore Residencia, Nilore Heights (3,876 apartments), Ghandhra Enclave and Kuri Overseas Enclave with estimates it would fetch approximately $2 billion from Pakistanis living abroad.The government conceived this idea and the CDA on Saturday made a presentation before the finance czar for the go-ahead for the execution of these projects.The Nilore apartments were basically constructed under the former PM’s housing project for the poorest segments at subsidised prices. However, the government now has changed its mind and is trying to sell them to overseas Pakistanis as the apartments are almost nearing completion.The estimates shared in the meeting revealed that the Nilore Residencia-related project might fetch $62.3 million, Nilore Heights $137.4 million, Ghandhra Enclave $1.3 billion, and Kuri Overseas Enclave $770 million.Dar chaired a meeting on development projects of the CDA at the Finance Division on Saturday, said an official press release by the Ministry of Finance.

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