China Pakistan Investment Corporation (CPIC), a London-based real estateinvestment firm, has acquired 27 million sq. ft. land in Islamabad for $1.5billion.
According to the details, CPIC has purchased land in the federal capitalunder its new luxury brand known as Diyar Homes.
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CPIC’s Diyar Homes will be Pakistan’s first resort-style community foroverseas Pakistanis. Talking about the acquisition, the CPIC spokespersonsaid:
The acquisition comes as the group looks to cement their position as theleading developer for overseas Pakistanis by expanding their land bank inPakistan’s most prime locations.
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It took CPIC more than three years to acquire land in Islamabad due tostrict regulatory criteria and an acute shortage of land in the capital,the spokesperson added.
We had a 72 point criteria ranging from accessibility, infrastructure,utilities, and natural landscape to ownership status, which made itextremely difficult to acquire the type of land we were looking for whilststaying within the ethos of pioneering trust, transparency, and sincerityto Pakistan’s real estate market.
CPIC’s investment is in line with the vision of Prime Minister Imran Khanto engage Pakistani diaspora in the development of the country.
