Foreign investors to develop DHA Phase-8

LAHORE: Foreign investors will develop the Defence Housing Authority's (DHA) Phase-VIII, Daily Times learnt on Wednesday. DHA officials said that the authority already had a contract with a Malaysian firm for developing the Defence Raya Golf Resort. Negotiations for Phase-VIII's commercial development are underway with the Indonesian firm, Ciputra, they added.

DHA officials revealed that negotiations between Ciputra and the DHA started three months ago and were almost complete. Representatives from Ciputra gave a briefing outlining their plans for Phase-VIII's commercial development to the Lahore corps commander, Shafaat Ullah Shah, in March. They said that the company would probably be awarded a contract for developing Phase VIII's commercial areas. Shah appreciated Ciputra's plans and assured the cooperation of the DHA management's if the contract was awarded. He said that the negotiations would be conducted with a high level of transparency. DHA officials said that foreign investors had expressed interest in the commercial projects announced by the authority. Several investors are expected to deliver presentations on Phase-VIII to the commander soon, they added. President General Pervez Musharraf attended the groundbreaking ceremony of the Defence Raya Golf Resort in November 2006. The resort has an integrated golf course and luxury residences. It is a collaborative project between DHA and a Malaysian company, Bandar Raya Developments Berhad (BRDB).

DHA officials said that the Lahore Corps Commander was interested in developing DHA through foreign investments. ISO award: The DHA has been awarded ISO certification in housing development. It is Pakistan's first housing society to get the certification. ali waqar

dailytimes.com.pk

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