Prime Minister Imran Khan, the current government’s leader, has long favored the assistance of Pakistanis living in remote areas who send billions of dollars in remittances. The authorities had given them various responsibilities to help them with transactions, property shopping, and so forth. The authorities will soon announce a new plan to provide them with larger residential units, as well as a residential mission for Pakistanis living in rural areas.
This blog is an all-you-need-to-know guide for this betterment quest, and if you’re a Pakistani living in a distant location throughout the world, you should read it.
About the Residential Project for Pakistanis in other Countries
In 2020, the Pakistani government introduced the Roshan Digital Account, an initiative that allows abroad Pakistanis living anywhere in the world to invest in Pakistan and access all digital banking and payment services. Thousands more non-Pakistani residents opened RDAs to take advantage of the facilities given, and millions of dollars were invested in Naya Pakistan Certificates (NPCs) as a result of the campaign.
For Roshan Digital Account subscribers, the Roshan Apna Ghar, Roshan Apni Car, and Roshan Samaaji Khidmat programs have been implemented thus far.
The Roshan digital account has also been used to start a government plan to create a home complex for Pakistanis living abroad. The government hopes to entice billions of dollars in investment from a variety of foreign Pakistani organizations in dozens of nations. Park Enclave Heights was the name of the project (Overseas Enclave). According to the concept, this would be a ground-breaking project that will be built to international construction standards in Pakistan’s capital city, using the finest practices of world-renowned architects and designers. LOCATION OF PARK ENCLAVE HEIGHTS Pakistan’s overseas Pakistanis are a valuable asset, and the money they bring home in the form of remittances accounts for a significant amount of the country’s foreign exchange reserves. The project is being created in Islamabad to recognize their accomplishments and provide them with a modern home investment alternative.
Park Enclave Heights will open on Park Road in Zone 4 of Islamabad, just minutes from the city’s major business sector and new international airport.
Everything in the city will be accessible to people thanks to a network of roads and transportation services.
Park Enclave Heights Apartments Features:
The project’s full-scale development is expected to cost $700 million, and it will be carried out by the Capital Development Authority (CDA) and the Islamabad Development Fund Limited (IDFL). The project will be completed in stages, with the first phase consisting of the building of 6,000 flats.
The Residential Project for Overseas Pakistanis is estimated to bring in remittances of around $2 billion. The project is well-facilitated, as evidenced by the government’s development strategy. The 6,000 units being constructed will range in size from 970 square feet to 2,300 square feet. Apartments ranging in size from one to five bedrooms will be available. Staff dormitories, a building management system, security monitoring, utilities, and other municipal services will be included in the project to offer inhabitants the lifestyle they have always desired.
It was recommended that to complete this mammoth project, worldwide marketing companies be hired and involved in the advertising and selling of flats in the project.
Let’s have a look at the conditions that should be met.
Marketing Agencies Criteria:
Marketing, promotion, sales, and other services to Pakistanis living abroad would be handled by hired marketing organizations. The open notice will also include requirements for marketing agencies, which will be subject to supervision from the Public Procurement Regulatory Authority (PPRA). Bidders must have offices in at least two distinct locations to be considered for the project. They must have a presence in at least one of the following countries: the United States, Australia, New Zealand, the United Kingdom, or the Gulf Cooperation Council. The administration would also supply free of charge to the agencies an authorized application form to be completed by Pakistanis overseas who have an RDA. The same form will be available on the agencies’ official websites for maximum exposure.
A commission of 1% of the price of each unit sold is paid to them as compensation for marketing, promotion, advertising, sales, and other associated activities.
How do I submit an application for an Apartment?
Applicants can apply for flats through marketing firms or by sending their applications to the IDFL directly.
A USD 1,000 membership fee is required, and residences will be assigned on a first-come, first-served basis via Roshan Digital Accounts (RDA). The dues deposit date and time will determine the precedence of requests.