Blue World City’s CEO Saad Nazir & Chairman Bahria Town Malik Riaz Meeting

The two real estate legends Malik Riaz, the chairman of Bahria Town, is well-known among developers, as is Saad Nazir, the first visionary developer from Pakistan who is currently working on a proposal in Pakistan for a tourist destination analogous to Dubai. The significant news for investors in Blue World’s City is that these two legends have begun a meeting in Dubai, where Chairman Blue World City has given Malik Riaz  the vision for his development on main Chakri Road Islamabad and has also solicited his opinions.

Read more with EL news: CDA asked to fix Murree Road near Bhara Kahu

They also address many safe investment options that investors can take advantage of in the near future. The Chairman of Blue World City ensured that these two newly-emerging developers would create fresh, contemporary work on this particular society so that those who would live in it would benefit from it. This is a victory for Blue World City for such cooperative conversations.

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CDA asked to fix Murree Road near Bhara Kahu

CDA asked to fix Murree Road near Bhara Kahu

Islamabad: According to news reports published on September 21, the National Highways Authority (NHA) has requested that the Capital Development Authority (CDA) give priority to the repair and rebuilding of the Murree Road section that was damaged during the construction of the Bhara Kahu Bypass.

Read more with EL news: A municipal organisation makes announcements to LDA City plot proprietors

In response to the information given, the NHA called a meeting with CDA representatives after receiving several complaints from the general public about the shoddy and uneven condition of the road. Officers from both organizations who needed to attend the meeting were present, and it was presided over by the NHA Member Engineering and Coordination.

NHA representatives encouraged the CDA to start Murree Road repairs right away to lessen the inconvenience to the people during the meeting. The National Logistic Cell (NLC), with whom the department has already had negotiations in this regard, was informed by the CDA Director General and other officials that work will start soon.

It is significant that the CDA owns the Bhara Kahu bypass while the NHA is in charge of Murree Road. The portion of Murree Road underneath the flyover sustained substantial damage while the bypass was being built. The CDA has failed to start repairs, despite the bypass being finished.

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DHAI-R introduces an exclusive offer for Phase-V commercial properties

DHAI-R introduces an exclusive offer for Phase-V commercial properties

According to a September 22 Facebook post, the Defence Housing Authority Islamabad-Rawalpindi (DHAI-R) has announced an exclusive offer that will make investing in commercial plots even more attractive.

Read more with EL news: DHA Multan will transfer ownership of Sectors G and N this month

In a move designed to provide significant benefits to its valued members, the administration introduced a limited-time offer that extends a 100% waiver on several key charges associated with commercial plot ownership, making it an excellent opportunity for those seeking to invest in prime real estate.

The offer, which is exclusive to members of commercial properties in DHAI-R Expressway-Phase V, waives the following fees entirely:

Site Design Fees
Possession Costs
Capital Investment and Development Fees (CIDC)
Fees for Drawing Submission
Caution Required: DHAI-R’s River View South, Phase IV: Application Deadline Extended

Water and Approval Fees
Debris Costs
Amalgamation Expenses
Members of DHAI-R Expressway-Phase V’s commercial plots can take advantage of this offer until December 31, 2023, allowing them to save substantially on their investments.

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A municipal organisation makes announcements to LDA City plot proprietors

A municipal organisation makes announcements to LDA City plot proprietors

According to the national dailies on September 23, the Lahore Development Authority (LDA) has sent out a public notification to the owners of the third and fourth ballot plots in LDA City.

Read more with EL news: DHA Multan will transfer ownership of Sectors G and N this month

The following announcements on the authorized payment schedule were made, per the details that were released:

  • Plots assigned in the third and fourth ballots began to be assessed development fees on January 1 and April 4, 2023, respectively.
  • By inputting the appropriate file numbers, the challans for development charge payments can be accessed through the LDA website, lda.gop.pk, or mobile app.
  • Challans for development fees may be deposited at any Allied Bank location nationwide or online through 1Link.
  • Read: Park & Ride Plaza-Gulberg’s commercial leasing rights will be put up for auction by LDA.

By visiting the LDA City Directorate or arranging through the WhatsApp numbers (0318-1414663, 0322-4180550), any potential errors in the challan form may be fixed.
Plot owners are urged to pay their development fees on time in order for their plots to be immediately turned over to them following the conclusion of all ongoing infrastructure development projects.

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DHA Multan will transfer ownership of Sectors G and N this month

DHA Multan will transfer ownership of Sectors G and N this month

In a recent thrilling news, the Defence Housing Authority (DHA) Multan revealed plans to transfer possession in Sectors G and N later this month. On September 19, the authority’s official Facebook page published a message in which this crucial development was disclosed.

Read more with EL news: DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

Although the authorities has stated that possession will be awarded in September, they have not yet provided the precise date. For its subscribers, they have nevertheless offered some alluring incentives. Notably, members can expect to save a lot of money—up to PKR 40 lakhs. A rare offer is also available: if building is finished within a year, all development fees will be entirely waived.

Another development is that Sectors Q and M are included in the Monsoon Plantation effort that has been started by the DHA Multan. Their goal of building a Clean, Green, and Sarsabz-O-Shadab Pakistan is in line with this attempt.

The housing society’s commitment to protecting trees and fruit orchards, with a focus on conserving mango orchards, is one of its most notable characteristics. This proactive strategy turns these orchards into delightful Mango Parks, which not only improves the environment but also contributes to the project’s overall beauty.

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DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

The first instalment payment deadline for the Early Bird Commercial-2023 plots has been extended, according to the Defence Housing Authority (DHA) Quetta. On September 21, this was disclosed in a post uploaded on the corporate Facebook page.

Read more with EL news: CDA asked to fix Murree Road near Bhara Kahu

The DHA Quetta has decided to extend the submission deadline until December 5 in response to the passionate appeals from its distinguished members. This tactical choice attempts to speed up the payment procedure and give members plenty of time to fulfil their financial commitments.

Additionally, the authority highly advised that all members make the most of this extension and make sure that the first installment for their Early Bird Commercial-2023 plots is timely submitted before the deadline.
Notably, this is the second time that the DHA Quetta has extended the due date for the initial payment of Early Bird Commercial-2023 plots.

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CDA asked to fix Murree Road near Bhara Kahu

CDA asked to fix Murree Road near Bhara Kahu

According to September 21 news reports, the National Highways Authority (NHA) has requested that the Capital Development Authority (CDA) prioritize the repair and renovation of the segment of Murree Road that was damaged during the construction of the Bhara Kahu Bypass.

Read more with EL news: Turkish investor renews bid to buy power producer

Pursuant to the provided information, numerous complaints from the public regarding the poor and uneven condition of the road prompted the NHA to convene a meeting with CDA officials. The meeting, convened by the NHA Member Engineering and Coordination and attended by officers from both organizations, was held at the NHA headquarters.

During the meeting, NHA representatives implored the CDA to immediately begin repairs on Murree Road to alleviate the public’s inconvenience. The Director General of the CDA and other officials reassured NHA officials that work would commence shortly, and the department has already begun discussions with the National Logistic Cell (NLC) regarding this matter.

Murree Road is under the jurisdiction of the NHA, whereas the Bhara Kahu bypass is under the control of the CDA. During the construction of the bypass, significant harm was caused to the section of Murree Road beneath the flyover. Despite the completion of the bypass, the CDA has not yet begun maintenance.

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Turkish investor renews bid to buy power producer

Turkish investor renews bid to buy power producer

KARACHI: The investment bank overseeing a Turkish investor’s effort to acquire more than 51% of the shares and control of publicly traded energy company Tri-Star Power Ltd. announced on Thursday that it is extending the deadline for submitting a public announcement of offer (PAO) by three months.

Read more with EL news: Punjab CM visits Ningxia to boost development cooperation

Alpha Beta Core Solutions Ltd stated that even though the initial 180-day window for submitting the PAO expired on September 9, the prospective acquirer’s due diligence procedure was still ongoing.

Tri-Star Power operates a 10-megawatt plant on the grounds of Image Pakistan in SITE, Karachi, and rents it out to customers in the same industrial group to generate and distribute electricity.

Aykut Alikuu is a high-net-worth individual from Turkey with expertise in e-commerce and the sale of locally sourced goods in the Gulf. The current management has launched a legal battle to prevent his takeover on the grounds that he was acting “in concert with others” and was “illegally accumulating” shareholding while engaging in share price manipulation.

The Sindh High Court ruled that the situation should remain as it is as a result of the lawsuit the management brought against the prospective purchaser.

One of the parties to the transaction claimed that the company’s management was “stonewalling” the acquisition bid in contravention of the rules. The power plant’s actual power output is unknown because it produces electricity as needed. Prior to July 1, 2021, the corporation assessed a per-unit fee to its electricity customer.

According to the company’s financial statements for the months of January through March, petrol supplies remained suspended for those three months, generating no income. Net profit for the first nine months of 2022–23 was Rs4.6 million, a decrease of 33.5 percent from the same period last year.

On March 20, a Turkish investor formally complained to Pakistan’s Securities and Exchange Commission (SECP) about the target company for failing to provide “relevant and material information” needed for due diligence.

The local electricity company was instructed to “ensure meticulous compliance” with the takeover requirements and to give the prospective purchaser relevant information for due diligence in a subsequent correspondence, which Dawn was able to view on April 4.

On March 9, the Turkish investor announced its plan to acquire the majority of Tri-Star Power’s shares. After a week had passed, the target business claimed the prospective buyer was driving “undue movement” in the share price.

The electricity generator claimed that a 531 percent spike in its share price over the course of eight months was the result of “manipulation by the acquirer either directly or indirectly through the persons acting in concert.”

After the public statement of intention, it claimed, the share price had a “continuous declining trend.” The envisioned buyer is not a stakeholder in the target business. He is a citizen of Turkey. and doesn’t even have a CDC (Central Depository Company) account,” it continued.

The company additionally asserted that the purchaser is “merely acting as a frontman on behalf of others in order to bypass the regulations” and lacks the resources and net worth necessary to complete such a transaction.

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Punjab CM visits Ningxia to boost development cooperation

Punjab CM visits Ningxia to boost development cooperation

According to September 20 news reports from Islamabad, the Punjab Chief Minister (CM) paid a diplomatic visit to Yinchuan to strengthen ties between Punjab and Ningxia in a variety of development sectors.

Read more with EL news: Joint operation initiated to combat criminal activity in RWP’s illegal societies

The details elucidate further that official meetings between CM Naqvi and Secretary Liang focused on the development of Ningxia. Both sides emphasized the implementation of streamlined single-window operations in an effort to increase administrative efficacy.

The discussion regarding the establishment of sister city relationships between Sahiwal and Bahawalpur in Punjab and Wuzheng and Zhang Wei in Ningxia was one of the most notable outcomes of the visit. This initiative seeks to strengthen cultural ties and promote people-to-people exchanges between the two regions in order to cultivate a stronger sense of connection and cooperation.

During the visit, Secretary Liang was also invited to visit Punjab, signifying an important step in revitalizing a 17-year-old sister province agreement between Ningxia and Punjab. This commitment to renewing historic alliances demonstrates the enduring affinity and mutual regard between the two regions.

In addition, they investigated opportunities for collaboration in a number of important industries, such as meat production, dairy development, information technology, and drip irrigation systems. These exchanges of knowledge have the potential to significantly advance the economic and technological landscape of Punjab.

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Joint operation initiated to combat criminal activity in RWP's illegal societies

Joint operation initiated to combat criminal activity in RWP’s illegal societies

According to press reports, a joint major operation against criminal activity occurring in unlawful societies was started on Saturday, September 16, by the district administration, local police, and the Rawalpindi Development Authority (RDA).

Read more with EL news: More cantonment residents win property tax rise appeals

The Director General of RDA, Saif Anwar Jappa, announced that Commissioner Liaquat Ali Chattha has formed a task group with the intention of carrying out a thorough operation against unlicensed housing societies. The mission will also look for criminals hiding out in these communities, look for firearms, and look for private security staff who may be engaging in illegal activity.
The task team, which consists of four members, will take action against unlawful housing developments that house illicit weapons and hire guards without the necessary authorization from the local police, according to Director General Jappa. The task force is led by the RDA Director General, who also serves as the task force’s chairman. Other members include the additional deputy commissioner of revenue, superintendent of police Saddar, and district council chief officer. Last week, this task force was formed.

The task force’s other focus will be on unlicensed security firms that send armed personnel to housing projects. It will carry out operations to seize illicit firearms and reduce their use in certain housing projects, and it will also give daily reports to the commissioner.
The task team has begun an operation against unlawful housing societies that are under the control of the Chauntra and Saddar Bairooni police stations, Commissioner Liaquat Ali Chatha emphasised. These societies’ owners have been accused of committing crimes.

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