Vertical Development a Way Out to Housing Crisis in Pakistan

Vertical Development a Way Out to Housing Crisis in Pakistan

Islamabad: Vertical development is the future of real estate in Pakistan especially in Islamabad. It poses a promising future for modern yet affordable housing for the citizens. These views were shared by the Assistant Executive Director of Naya Pakistan Housing and Development Authority ( NAPHDA), Asadullah in an interview. Previous governments have pushed in this direction to work on delivering apartments. The caretaker government had also requested proposals concerning the vertical development steps. Read more: CDA to Conduct Feasibility Study for Providing Apartments to Staff

The Assistant Director, NAPHDA also said that “Capital Development Authority (CDA) has historically allocated plots to its employees as per the established policies. However, the practice of plot allocation implies that on a given 100-acre parcel, only a limited number, typically ranging from 10 to 15 thousand employees, can be accommodated,”. He further shared his concerns that there are also some challenges in this regard such as limited provision of funds.

Additionally, he also maintained “Conversely, the exploration of vertical development strategies suggests a more efficient utilization of available space. For instance, construction of four towers on the same 100-acre plot can potentially provide housing facilities for a significantly larger number of employees,”. Mr. Asadullah also deemed the need for a coherent policy in the government`s framework.

Read more: Apartment vs Plot: Which One is Better for Investment

The Capital Development Authority (CDA) has also been taking necessary steps to encourage vertical development in the Capital Territory. Thus, the CDA has decided to develop 2,000 apartments in Farash Town through Naphda.

Mr. Asadullah also stressed the need for tax discounts for a sustainable model of such affordable housing. These steps will also encourage public-private partnerships towards the increasing trend of vertical development that will also be eco-friendly.

For more information, please visit Fuldax Marketing.