Introduction
Rapid population growth and urbanization has resulted in generation of huge demand for housing. According to State Bank of Pakistan, housing backlog which was 4.3 million in 1998 has surged to 10 million in 2017, significant portion of which is being contributed by Punjab. Furthermore, existing supply of different sizes of houses is not in accordance with the income distribution.
In 2017, there was a shortage of 208,926 housing units in Faisalabad and it would grow up to 291,723 housing units by 2023. To meet the rising demand, a scheme is initiated under Naya Pakistan Housing Programme in Faisalabad under the Public Private Partnership mode with the objective of establishing the housing units on the area of 574-Kanals available with Faisalabad Development Authority (FDA). The housing project will not only provide people with affordable residences but will also generate employment opportunities.
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Location |
FDA Housing City, Near Sargodha Road, Faisalabad |
|
Sponsoring Agency |
Housing Urban Development & Public Health Engineering Department (HUD & PHED) |
|
Estimated Cost |
Rs. 5,035/- Million |
|
Proposal Type |
Solicited |
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Implementing Agency |
The Punjab PPP Authority/FDA |
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Source of Revenue |
Sales of high end commercial plots/units and annuity payments(if any) |
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Current Status |
Hiring of Transaction Advisor (TA) for development of project proposal/bidding documents is under Process |
Role of Private Party
- Design
- Build
- Finance
- Transfer
Role of Government
- Provision of encumbrance free land
- Obtaining necessary approvals/NOCs