The award-winning international real estate developer, CPIC, has made major investment with acquisition of 27 million square feet of land in line with Prime Minister Imran Khan’s vision for the overseas diaspora of the country.
The CPIC Global has acquired the swathe of land here in Islamabad under their new luxury property brand Diyár Homes as the company eyes expansion into Pakistan’s top tier cities. “The acquisition comes as the group looks to cement its position as the leading developer for overseas Pakistanis by expanding their land bank in Pakistan’s most prime locations,” the CPIC said in a statement.
Under the vision of Prime Minister Imran Khan, the CPIC under the Diyár Homes banner is set to develop the first-ever resort-style master community for overseas Pakistanis and for that it has carefully selected the federal capital as the key location to introduce this first of its kind development. Due to stringent criteria and dire shortage of large parcels of land in the capital, the CPIC had been on the hunt for three years assessing no less than two dozen parcels of land before finalising the acquisition.
“We had a 72-point criteria ranging from accessibility, infrastructure, utilities and natural landscape to ownership status, which made it extremely difficult to acquire the type of land we were looking for whilst staying within the groups ethos of pioneering trust, transparency and sincerity to Pakistan’s real estate market” the CPIC said. “Ultimately we found the perfect piece of land located in a stunning hillside setting whilst being within touching distance of the capital and most importantly with clean ownership title. It is a mega acquisition by any measure and a huge vote of confidence in Islamabad, one of the world’s most buoyant real estate markets,” it added.
The project has been designed in line with Prime Minister Imran Khan’s vision of outreach to the Overseas Pakistani diaspora and attracting Foreign Direct Investment into Pakistan. “The overseas Pakistanis are a mega asset of Pakistan, it is amongst the strongest diasporas in the world with over 8 million people living and working abroad,” the statement said, adding that the overseas Pakistanis send back almost $40 billion a year and Prime Minister Imran Khan is rightly focusing on increasing engagement with them. “Diyár Homes will bring the best of international living to Pakistan and give the overseas Pakistani diaspora a deserving home within their motherland,” it added.
The project which is currently in the planning stages and is expected to have a gross development value in excess of $1.5 billion dollars and will be launched in 2021.