| Islamabad: The Capital Development Authority (CDA) is gearing up to develop a luxurious five-star hotel in Islamabad under a public-private partnership (PPP) model. This move comes as part of CDA’s efforts to enhance the city’s infrastructure and tourism sector while attracting significant investment.
A high-level meeting was held at the CDA Headquarters, chaired by Chairman CDA Muhammad Ali Randhawa and CEO of the Public-Private Partnership Authority (P3A) Malik Ahmed. The session focused on exploring options for executing several major projects in the capital, including the highly anticipated five-star hotel.
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The Chairman CDA emphasized the importance of selecting the best financial and sustainable models to ensure the project’s long-term viability and maximum revenue generation. He underlined that the hotel would contribute significantly to positioning Islamabad as a key destination for international and national tourism, enhancing its capacity to host high-profile events and visitors.
As per the meeting, the pre-feasibility studies for the five-star hotel project have already been completed, and transaction advisors have been engaged to assess the most viable and beneficial approach for the execution of the project. The collaboration between CDA and these advisors will be critical in selecting the best development and investment options for the project.
In addition to the hotel development, the meeting also reviewed plans for the Jinnah Medical Complex, another key project aimed at providing top-tier healthcare services to the city’s residents. The CDA Chairman emphasized that, in line with Prime Minister’s directives, the project would adopt a financially sustainable model, incorporating interlinked commercial areas to make the complex self-sufficient and financially viable.
CDA’s push to develop these projects is expected to boost Islamabad’s tourism and healthcare sectors, creating new business opportunities while improving services for residents and visitors alike.
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To support these ambitious initiatives, an investors’ conference will soon be arranged to attract potential investors. CEO Malik Ahmed of P3A assured full cooperation and support to ensure the successful execution of both the five-star hotel and Jinnah Medical Complex projects.
These developments are set to significantly contribute to the capital’s growth, with an emphasis on sustainability, self-reliance, and top-quality service delivery. |
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