There have been rumors for the past few weeks that Smart City Islamabad is an illegal project and not approved by RDA. Investors are concerned and we got asked by a lot of people, specially by overseas Pakistanis. So we decided to come forward and explain this in detail.
As you all know, there are a lot of housing societies operating in the vicinity of New Islamabad Airport. That space is getting quite competitive and amidst that competition, there are some evil competitors that decided to bad-mouth Capital smart city seeing that it is selling so well.
So basically, there was this society launched with the name of Capital Smart City Extension, which was obviously not approved by RDA and so RDA decided to take action against them. According to RDA, Smart City’s extension is not approved by RDA and is illegal. And that strict action will be taken against the management that contributed in advertisement of illegal society.
The management of smart city has already issued an official press release stating that they don’t have any extension project and that strict action shall be taken against anyone who is marketing with the name of Smart City Extension. DG RDA Rana Akbar Hayat has already directed officials to take strict action against unauthorized housing schemes without any fear.
In another development, Capital Smart City has partnered with DHA (Defence Housing Authority) which is going to be a serious threat to competitors. This collaboration will not only drive the prices up but also instills confidence in investors and gives them sense of security. DHA is an established name in the real estate sector of Pakistan with a lot of successful projects in its arsenal.
Stay tuned. We’ll keep you posted when there is a news update.
Rest assured, things are only going to get better from here.