The twin cities have been receiving the spotlight of attention when it comes to development in real estate. It is true that the real estate industry in Pakistan is blooming. With new and approved facilities coming out on the forefront; the expectations for standards of living are also rising. One of the new developmental projects in the twin cities’ vicinity was the ring road project.
This is a project announced in 2020. The primary objective of Rawalpindi ring road project was to enhance the road transport facility for the residents of twin cities and improve the economic connectivity between them.
Approval for PC-1 of 24 billion:
With public eyes set with great interest; the Rawalpindi Ring Road project is taking shape at a speedy pace. In this regard PDWP (Provincial Development Working Party) has approved Rs 24 billion for PC-1. Under this approval a 38.3 km main carriage will be constructed. This part of the project is reportedly going to start from Banth at GT road and stretch out till Thalian Interchange.
Commissioner Rawalpindi has come forth to state that the project will consist of 5 interchanges which will pass through Chakbeli, Chakri and Adyala road.
Importance of Rawalpindi ring road project:
For cities as important as Islamabad and Rawalpindi; providing better and more efficient ways for commute within the cities is a major need for development. Say, take the example of the national highway N-5; which is one of the most important transport corridors in Pakistan. However this route at times can seem insufficient.
Take into account the burden that is put onto the national highway. With the daily heavy commute of 96 percent external and 65% internal trade; are going through this single route. The bottleneck of this project passes through the central regions of Rawalpindi which puts a lot of pressure on the daily volume of traffic and flow of life for residents.
The main relief Rawalpindi will find from the ring road project is the focus of commute being taken off from the N-5 bottleneck. This will allow great advantages for the local transport and non motorized traffic as the central route won’t get choked up on the daily basis. Of course this being a planned project; will help bring more shine on the city’s south western sites.
Over the past few months; this project has been the center of heated debates. Pakistan’s PM Imran Khan has ordered an investigation into this project’s newly proposed alignment. This has further increased the cost of the overall project.
Furthermore the ring road project has gone through multiple discussions. The initial route of transport for the commuters will now have to pas through3 different roads and pay 3 different tolls. However this issue has been solved by addition of the Attock loop after deliberations with the CDA and NHA. This increases hope for the development and success of the ring road project.
This project is not going to be ascribed to a particular housing project or scheme. However this new development is surely going to good news for the real estate world. Opening up new development will allow the neighborhood properties to increase in value. Neighboring developments both residential and commercial will gain more public attraction and investment as the ring road project develops. For real estate investors it is something quite important to be on the outlook for!
