Islamabad— According to an RDA spokesperson, in a meeting chaired by Tariq Mehmood Murtaza, RDA approved 10 economic zones to be set up along the Ring Road project.
Among those present at the meeting were members of both, Islamabad and Rawalpindi Chambers of Commerce and Industries along with relevant RDA members such as Mr. Muhammad Junaid Taj Bhatti—the Authority’s Deputy Director of Finance.
As per sources, the attendees agreed that work on these economic zones around the Ring Road project should commence as quickly as possible in order to bolster the business community which in turn will drive Pakistan’s economy. The business community is the cornerstone of the nation’s economy and measures must be taken to buttress it as per the PM’s vision, conveyed the RDA chairman. Thus, it is clear that the government plans on promoting the Betterment of the Real Estate Sector in Pakistan in 2020 to help facilitate the growth fo the bsuiness community.
In efforts of setting up a business hub along the Ring Road project, RDA has approved the setting up of various Special Economic Zones (SEZs) including educational institutions, recreational hubs such as shopping complexes, medical institutions as well as industrial, residential, and aerotropolis. These will be set up strategically along the 65.8-kilometer strip of the Ring Road project.
There are multiple noteworthy residential real estate projects near the Ring Road. However, not many of them are approved by the legal authorities. Only Capital Smart City Islamabad is a RDA approved project near M2 Motorway and Ring Road that is almost sold out and now moving towards the resale and transfer time. Click here to find out the transfer and re-sale procedure of this highly anticipated housing society as it is the first of its kind smart City in Pakistan and has definitely gained a lot of traction in the real estate market.
Apart from these, the Rawalpindi Development Authority (RDA) has also approved industrial zones, transport terminals as well as an amusement park, and wholesale markets to be constructed along the sides of the Ring Road project.
The development work around the Ring Road project is being given top priority by the government in order to help remedy the concerns of the business community.
What is RDA?
The Rawalpindi Development Authority, better known as RDA, is one of the foremost government body responsible for for providing Municipal and Town services to the city of Rawalpindi. It is also responsible for the issuance of legal documents such as NOC and preliminary permissions; crucial to in determining the legality of a housing project in Rawalpindi.
A highly anticipated project that is pending approval from RDA is the Blue World City project sponsored by Blue Group of Companies. Here is everything you need to know about the Details of Blue World City NOC and Legal Aspects.