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CategoriesNews Construction Developments Urban Developments & Planning

CDA’s Zone III Commercial Plan Draws Criticism Over Policy Contradiction

ISLAMABAD: The Capital Development Authority (CDA) is moving forward with plans to establish a major commercial zone within Islamabad’s Zone III, an area officially protected from construction under existing regulations, prompting accusations of policy inconsistency from insiders familiar with the matter.

The commercial development is linked to Margalla Enclave, a joint venture between the CDA and the Defence Housing Authority (DHA) in the Kuri area. A 3.8-kilometre link road connecting Park Road to the housing scheme runs through Zone III, and earthwork on the route is nearly complete.

The federal government has since granted this road the status of an arterial/major road, directing the CDA to apply regulations used for other major thoroughfares such as GT Road, Murree Road, and the Islamabad Expressway, effectively paving the way for regulated commercial development along its length.

The move stands in sharp contrast to CDA’s long-standing enforcement in Zone III, where residents are barred from constructing even modest homes on their own land, denied electricity connections, and have had unauthorised structures demolished, with incidents reported in the Shah Allah Ditta area.

A CDA spokesperson declined to answer directly whether the road falls within Zone III or whether the plan constitutes contradictory policy, instead referring to an official notification dated May 7, 2026, authorising the development.

The CDA board reportedly reviewed the notification’s implementation parameters at a recent meeting.

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CategoriesNews Developments Economy Investment Property Real Estate Investment

As War Grips the Gulf, Pakistani Wealth Flows Back Home

KARACHI: The ongoing Gulf war has significantly disrupted the long-standing flow of undocumented Pakistani wealth into Dubai’s real estate sector, with market sources reporting that funds once considered secure abroad are now being channelled back into property investments within Pakistan.

For years, Pakistan ranked among the top foreign investors in Dubai property, and the emirate was widely regarded as a reliable destination for capital of questionable origin. That dynamic appears to be reversing.

Hassan Bakhshi, Chairman of the All Pakistan Builders Association, estimated that approximately $60 million in undocumented funds had previously left Pakistan for Dubai each month an outflow that has now halted entirely.

Currency market sources describe a similar shift, noting that assets already parked in Dubai have become difficult to liquidate amid the instability caused by the conflict. Rising remittance inflows from the UAE are being interpreted as evidence that Pakistanis are repatriating liquid holdings rather than expanding them abroad.

This capital redirection has had a visible effect on Karachi’s property market. According to Bakhshi, prices in the city’s Defence Housing Authority area have surged by 50 to 60 percent since the war began, driven partly by the area’s reputation for secure property titles.

Other parts of Karachi have seen more moderate gains of 20 to 25 percent, according to property dealer Karim Dad, who attributed the rebound to improved liquidity and government efforts to stimulate the construction sector.

The disruption extends beyond real estate. Several technology firms that previously relocated to Dubai, citing a favourable regulatory climate and frustration with Pakistan’s internet connectivity and tax administration, are now among those seeking to recover stalled investments as the regional situation remains unresolved.

Analysts caution that any large-scale return of capital will likely depend on how quickly stability returns to the Gulf region.

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CategoriesNews Construction Developments Urban Developments & Planning

Punjab Government Doubles Interest-Free Housing Loan Target Under ACAG Scheme

LAHORE: The Punjab government has doubled its interest-free housing loan disbursement target under the flagship “Apni Chhat Apna Ghar” (ACAG) scheme for the current financial year, after already disbursing more than Rs 243 billion to eligible families, officials announced on Monday.

Officials made the decision during a high-level review meeting chaired by Punjab’s Housing and Urban Development Minister, Bilal Yasin, to assess progress on interest-free loan disbursements under the programme.

The session was attended by Punjab Housing and Town Planning Agency (PHATA) Director General Sikandar Zeeshan, Urban Unit CEO Umar Masood, and representatives from the Bank of Punjab and various microfinance institutions.

Participants were informed that the scheme has received an unprecedented volume of applications, prompting Chief Minister Maryam Nawaz Sharif to direct that the loan disbursement target be doubled within the ongoing fiscal year.

Officials noted that the programme has already set a record by releasing over Rs 243 billion in interest-free financing in a relatively short span. To date, more than 200,000 loan applications have been approved, with 114,237 houses fully constructed and another 45,254 currently under construction.

Addressing the meeting, Minister Yasin directed authorities to immediately release all pending payments under the scheme and called for stronger monitoring mechanisms to ensure transparency and efficiency.

He instructed authorities to take swift action on any complaints about delays in loan disbursement, reaffirming that the programme’s core objective is to provide deserving, homeless families with a dignified and secure place to live.

He further remarked that the Chief Minister has redirected public funds toward welfare-oriented and public-service initiatives. The Minister also directed the Punjab Information Technology Board (PITB) to accelerate coordination among stakeholders to ensure prompt resolution of applicant grievances.

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CategoriesReal Estate Investment News Property Laws Property Taxes

FBR Yet to Notify Refund Mechanism for Section 7E, Super Tax Collections

ISLAMABAD: The Federal Board of Revenue (FBR) has yet to establish a mechanism to refund taxes collected under Section 7E, the deemed income tax on immovable property, and Super Tax under Section 4C, despite more than three months having passed since a formal request for such a procedure was made.

Waheed Shahzad Butt, Chairman of the LTBA Public Interest Litigation Committee, said he had written to the FBR Chairman, routed through Board Members, seeking a notified refund process for both levies. He noted that the FBR has not issued any guidance, prescribed an application format, or designated a forum for filing such claims.

The demand follows rulings by the Federal Constitutional Court (FCC), which struck down Section 7E as unconstitutional and void from inception, nullifying all notices and proceedings initiated under the provision. Introduced through the Finance Act 2022, the levy had applied a five percent charge on properties valued above Rs25 million, based on FBR-assessed fair market value.

On Super Tax, the FCC upheld the provision’s constitutional validity but excluded certain exempt capital gains from its scope, meaning the tax cannot be charged on the sale of immovable property held beyond the prescribed holding period, inherited property, or otherwise exempt income.

Butt said the FBR’s continued silence, despite binding constitutional rulings, has left taxpayers in an uncertain legal and financial position. He proposed allowing refunds as an adjustment against tax liability for Tax Year 2026 through the annual return, with field formations directed to process such claims uniformly rather than leaving the matter to individual Commissioners or Regional Tax Offices.

He cautioned that continued inaction exposes the FBR to further litigation, including complaints before the Federal Tax Ombudsman, as affected taxpayers seek redress for amounts they believe were unlawfully retained.

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CategoriesNews Real Estate

Islamabad’s Real Estate Sector Set for New RERA Reforms

ISLAMABAD: The federal government has initiated a comprehensive review of the legal and regulatory framework governing real estate in the capital, with a subcommittee formed to recommend a modernised structure for the Real Estate Regulatory Authority (RERA).

Federal Minister for Law, Justice and Human Rights Azam Nazeer Tarar chaired a high-level meeting on Monday to review the existing RERA framework and explore options for overhauling it.

The session brought together key stakeholders, including Federal Minister for Finance and Revenue Mohammad Aurangzeb, Minister of State for Interior Talal Chaudhry, Capital Development Authority (CDA) Chairman and Chief Commissioner Islamabad (retired) Lt. Sohail Ashraf, and senior officials from the interior and law ministries.

Participants held detailed discussions on establishing an effective, transparent, and citizen-focused regulatory system, addressing gaps in the current framework’s implementation and institutional responsibilities.

As a result, Minister Tarar constituted a subcommittee comprising representatives from the interior and law ministries alongside the CDA, tasked with examining legal options and institutional mechanisms for RERA. The subcommittee has been directed to submit its findings within 20 days.

Minister Tarar underscored the need to strengthen Islamabad’s regulatory and institutional architecture, positioning the capital as a model city for the country. He stressed that protecting citizens’ property rights, ensuring transparency, and safeguarding public interest must remain central to the reform process, noting that a robust legal framework would facilitate low-cost housing and improve access to housing finance.

The meeting also addressed the digitisation of land records as a critical reform component. Minister Aurangzeb highlighted that modernising land records could bolster confidence among financial institutions and the public alike. Minister Chaudhry commended existing CDA reforms while calling for continued consultation on regulatory options.

Officials agreed that the federal government, CDA, and private sector are essential stakeholders, with further consultations planned before the new legal and regulatory framework is finalised.

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CategoriesNews Property Property Taxes

New Property Tax Rules Announced by FBR for 2027

ISLAMABAD: The Federal Board of Revenue (FBR) has released updated guidance on how income from property will be taxed in Pakistan for Tax Year 2027, drawing on provisions of the Income Tax Ordinance, 2001, as amended through June 2026.

Under Section 15 of the Ordinance, rental income remains taxable under the head “Income from Property,” covering not just periodic rent but also forfeited deposits from failed property sale agreements.

However, the FBR clarified that income tied to leased plant and machinery, or payments for utilities and amenities bundled with a tenancy, will instead be classified as “Income from Other Sources.”

A notable feature of the framework is the fair market rent provision. Where actual rent falls below prevailing market rates, tax authorities may assess the property owner on the basis of fair market rent rather than the lower amount actually collected unless that market-rate value has already been taxed through the tenant’s salary.

Section 15A sets out permissible deductions, the most significant being a standard repair allowance equal to one-fifth of taxable rent. Property owners may also deduct insurance premiums, local taxes, ground rent, and profit paid on loans used to acquire or improve the property, among other itemised costs. Administrative and collection expenses are deductible but capped at 4% of chargeable rent.

The rules further address previously written-off unpaid rent that is later recovered, which becomes taxable in the year of recovery, and unpaid expense liabilities that remain outstanding three years after being claimed, which then become taxable income.

Separately, under Section 16, non-adjustable payments collected from tenants are not taxed immediately in full. Instead, they are treated as rental income spread evenly across ten tax years, with special provisions governing early refunds to outgoing tenants.

The FBR said the framework is intended to give property owners clarity on their tax obligations ahead of the new filing year.

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CategoriesNews Developments Economy Investment

Pakistan Pushes for Strategic Economic Partnership with Saudi Arabia

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday welcomed a high-level Saudi business delegation at the Prime Minister’s House and invited investors from the Kingdom to explore opportunities across Pakistan’s priority sectors, including agriculture, infrastructure, energy, real estate, and information technology.

Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pak Joint Business Council, led the delegation. During the meeting, the Prime Minister conveyed his respects to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Crown Prince and Prime Minister Mohammed bin Salman.

Sharif underscored the “deep-rooted and brotherly relationship” between the two nations and stressed the need to translate this longstanding partnership into a mutually beneficial strategic economic alliance, in line with the Crown Prince’s vision for expanded regional cooperation.

He said the visit would build on earlier engagements and pave the way for new memorandums of understanding across various sectors.

The Saudi delegation conveyed interest in a broad range of investment avenues, including agriculture, ports, highways, airport outsourcing, real estate, energy, power distribution and information technology.

The Prime Minister described the present moment as an opportune time to deepen bilateral economic ties through both government-to-government and business-to-business channels.

In response, Prince Mansour thanked the Prime Minister for the warm reception and reaffirmed Saudi Arabia’s continued commitment, through both government and private sectors, to strengthening commercial and investment relations with Pakistan.

The delegation is scheduled to hold further meetings with senior government officials and private-sector representatives during its visit.

The engagement comes amid Islamabad’s renewed efforts to attract foreign investment and diversify its economic partnerships, with senior members of the federal cabinet in attendance, underscoring the government’s emphasis on the visit’s strategic significance.

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CategoriesNews Real Estate Investment

Housing Finance Surges 84% in Approvals as Government Steps Up Access-to-Finance Drive

ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb chaired the fortnightly Access to Finance Steering Committee meeting on Monday, reporting sharp gains across housing, agriculture, SME and export financing since the close of FY26.

Total housing finance climbed from Rs294 billion at end-June to Rs307 billion by mid-August. Under the Wazir-e-Azam Apna Ghar Program, applications rose 52 percent to nearly 139,000, while approvals surged 84 percent to over 46,000, with approved financing nearly doubling to Rs279 billion. Loans disbursed increased 59 percent, crossing Rs38 billion.

The Committee credited the momentum to regulatory reforms, including the State Bank’s revised housing finance rules, a 90:10 loan-to-value ratio and a 65 percent debt-burden ratio, alongside passage of the Financial Institutions (Recovery of Finances) (Amendment) Act, 2026, aimed at strengthening mortgage recovery and lender confidence.

Agriculture borrowers grew to 3.37 million, adding roughly 115,000 since June, with sector financing steady near Rs1.26 trillion. The Zarkhez-e Asaan Zarai Qarza scheme for uncollateralised farm lending recorded over 58,000 registrations.

SME formal financing stood at Rs1.05 trillion across some 330,000 businesses, with a credit-scoring pilot underway across 13 banks. Officials set medium-term targets of Rs1.5 trillion in combined agriculture and SME financing by June 2027, rising to Rs2 trillion by June 2028.

On exports, the newly effective Performance Based Rebate on Incremental Exports offers exporters a 1 percent rebate for growth up to 10 percent, and 2 percent beyond that. The Pakistan Accelerated Vehicle Electrification Programme also gained pace, with EV deliveries tripling to over 1,500 units.

Aurangzeb called for tighter bank-wise monitoring and broader public awareness to sustain credit growth across housing, farming and enterprise sectors.

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CategoriesNews Construction Developments Urban Developments & Planning

Punjab Bans Excavation of Newly Built Roads, Approves Development Projects Across Province

LAHORE: CM Punjab Maryam Nawaz has prohibited excavation or damage to newly constructed roads across Punjab, directing improved coordination between government departments to prevent repeated digging after infrastructure projects are completed.

The directive was issued during a meeting reviewing own-source revenue development schemes across several divisions. Authorities were also instructed to ensure that manholes and sewerage covers remain level with road surfaces, while newly developed roads must include proper drainage systems, signage and lane markings.

The provincial government approved a wide range of infrastructure and urban improvement projects covering Lahore, Multan, Bahawalpur, Sahiwal, Rawalpindi and Faisalabad divisions.

In Lahore, the government approved improvement plans for several major roads, along with beautification work at Lakshmi Chowk. Authorities were also directed to enhance sections of the Orange Line corridor along Multan Road through cleaning, plantation and mural work.

Development schemes involving road construction and widening, sewerage systems, drainage, solar streetlights and public facilities were approved for districts including Kasur, Sheikhupura, Multan, Vehari, Lodhran, Bahawalpur, Sahiwal and Faisalabad.

Rawalpindi district received approval for 13 projects, while additional schemes were cleared for Attock, Murree, Jhelum and Chakwal.

The chief minister also directed departments to establish clear completion timelines for development projects and barred officials from collecting charges from shopkeepers without prior approval.

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CategoriesNews Economy Property Real Estate Investment Urban Developments & Planning

CDA Advances Rs1.4bn Kashmir Chowk Underpass Project in Islamabad

ISLAMABAD: The Capital Development Authority (CDA) has moved forward with plans to construct an underpass at Kashmir Chowk on Murree Road, with the project estimated to cost around Rs1.4 billion.

The proposed underpass, located at Dhokri Chowk near Islamabad Club, is intended to improve traffic movement at the busy intersection. Under the planned arrangement, vehicles travelling from the Serena side towards Rawalpindi will use the underpass, while traffic heading towards Murree will pass over its upper section.

CDA has opened technical bids submitted by Habib Construction Services and M/s Kamran Khan (Kundi Group). During the evaluation process, Kundi Group was declared non-responsive and subsequently filed a grievance with the civic authority. Financial bids will remain unopened until the complaint is decided. Officials expect the matter to be resolved within 15 days.

Separately, CDA is also preparing another underpass at the junction of Faisal Avenue and Margalla Road, where the PC-I is being finalised before the tendering process begins.

The projects form part of CDA’s broader road infrastructure programme aimed at improving traffic flow across Islamabad. Meanwhile, the federally funded 10th Avenue project remains incomplete, with about half of its work still pending despite its original 2024 completion target.

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