Pakistan PropertyTop News

Govt alloted land for the construction of the Asian Development Bank’s office

Islamabad: The government announced its decision to allot land in Islamabad’s Red Zone area for the construction of the Asian Development Bank (ADB)’s office building. The executive plans to allot a one-acre land in the area for this purpose.

As per the details revealed, the ADB requires sufficient office space in the capital city and additional human resources in order make its operations ‘stronger’ within the country. Currently, the bank holds rented office space in the Serena Business Complex.

Upon the ADB’s request, the Capital Development Authority (CDA) has allotted a one-acre land in sector G-5/1, Islamabad. The standard terms and conditions will apply to the construction of the building; with the ADB having accepted the reverse offer made by the CDA.

The ADB is among the largest international development partners of Pakistan. It helps the country with securing financial assistance for project loans, program lending, technical support, and grants; along with meeting other developmental needs

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