Naqvi unveils plans for high-rise towers, Manhattan-style city in Islamabad

Naqvi unveils plans for high-rise towers, Manhattan-style city in Islamabad

Interior Minister Mohsin Naqvi has announced plans for major real estate and recreational projects in Islamabad, including high-rise hotels, shopping malls, a Manhattan-style urban development and a large safari park, in a bid to attract local and foreign investment.

Speaking at the Saudi-Pak Real Estate Expo in Lahore on Friday, Naqvi said the government would offer investors large plots for commercial and residential projects without requiring upfront payments for the land. Instead, the government would receive a share of the completed projects’ inventory.

Under the proposed arrangement, the auction would begin with a government share of 15 per cent of the project inventory. Investors would be allowed to offer a higher percentage to secure the plots.

The plots would be available in sizes of one, three and six acres. Developers would be required to construct buildings at least 600 feet tall and complete their projects within two years of approval.

Naqvi said the government intended to simplify the approval process through a one-window operation at the Ministry of Interior. He added that approvals could be completed within three to four weeks, allowing investors to avoid dealing with multiple government departments.

The minister also stressed the need to protect domestic and foreign investors from unnecessary obstacles during project development.

To ensure transparency and address potential disputes, the government plans to establish a five-member auction committee comprising representatives of the National Accountability Bureau, the Special Investment Facilitation Council, the Federal Investigation Agency and the Capital Development Authority, alongside a judge who would head the body.

The government has yet to decide whether the judge would be serving or retired. Naqvi said the committee would include key stakeholders to help prevent future complications for investors

Naqvi also announced plans to develop a Manhattan-style city across 1,000 acres behind the Prime Minister’s House in Islamabad.

The proposed development would feature residential and commercial complexes surrounding a central park and a lake. It would operate under a separate set of laws, regulations and standard operating procedures, according to the minister.

He said the project would introduce a distinct urban development model aimed at creating a modern commercial and residential hub in the federal capital.

The interior minister further announced plans for a 450-acre safari park in Islamabad, describing it as a project intended to become Asia’s largest of its kind.

Naqvi said Pakistan had considerable potential for entertainment and recreational facilities but lacked sufficient attractions to meet public demand.

Citing improvements made to a safari park in Punjab, he said reconstruction and the introduction of additional animals had helped transform the facility within six months. According to his account, its annual auction value rose from Rs20 million to Rs680 million within a year, despite the park having only half the number of animals originally planned.

He said the example demonstrated the commercial potential of recreational projects if they were properly developed and managed.

Naqvi also highlighted opportunities for residential and entertainment developments in Islamabad, adding that the government was working to address concerns surrounding high property prices.

He expressed hope that the proposed projects would attract investors from Saudi Arabia and other countries. The minister reiterated that the government would streamline administrative procedures through the Ministry of Interior’s one-window system.