Islamabad, Oct 18: CDA Chairman Discusses Islamabad Luxury Hotel Projects with P3A and AT Kearney Boosting Tourism and Private Sector Investment. The Chairman Capital Development Authority (CDA), Muhammad Ali Randhawa held a meeting via zoom with the representatives of the Public Private Partnership Authority (P3A) and the consultants from AT Kearney while the Members and relevant officers were also present.
The meeting was aimed to discuss the various options and best models for the hotel plots in Islamabad. CDA aims to develop luxury hotels in prime areas of Islamabad. These projects are expected to boost tourism and business, addressing the growing demand for high-quality lodging and recreational facilities in the capital.
The meeting focused on the recent feasibility study conducted by AT. Kearney, which outlined various models and options for the projects including land lease, joint venture, and revenue sharing with an upfront concession fee.
Following the detailed discussions, the Chairman CDA highlighted to explore the most viable option keeping in view the realistic market price of land and construction cost. He emphasized the need to ensure that the hotel plots must have market-competitive pricing as well as long-term benefits for CDA. He stressed on ensuring fair pricing, construction standards in order to enhance bankability and optimal commercial use of these hotel plots.
It was decided that CDA would carry out further analysis of the feasibility report and options while both AT. Kearney and the CDA team would consult further on the pricing of land, construction cost and other modalities.
The way forward including the Jinnah Medical complex and Slaughter House for Islamabad was also discussed with the P3A. The meeting also reviewed the proposal for the project of Gandhara Citizen Club project, which will provide recreational facilities such as a cricket ground and library. The revenue generated would be spent on the citizen welfare and upgradation of the parks and ground. The RFP process for this project has already begun, with bidder consultations underway.
CDA and P3A’s collaboration aims to attract private sector investment to improve Islamabad’s infrastructure, fostering economic growth and enhancing the city’s appeal.
