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CDWP Approves Construction of Rawalpindi Ring Road Project

By 24/11/2021 March 25th, 2022 0 Comments

The Central Development Working Party (CDWP) conditionally recommended the Ring Road project to the Executive Committee of the National Economic Council (ECNEC) for consideration. The federal government has approved the construction of the Ring Road Project along with a budget of Rs 23.6 billion from public funding. Of the total cost of Rs 23.6 billion, the Provincial Government has proposed to pay Rs 8.4 billion and requested Federal Government to bear the remaining amount of the project.

The scope of work also includes the construction of grade-separated five interchanges, two bridges, a flyover, two subways, toll plazas, and weighbridges. The project seeks to provide better traffic facilities and savings in travel time and avoid inconvenience to the general public, aiming to reduce air and noise pollution through reduced traffic congestions.

The ring road is a long-awaited project. The impact of the Ring Road Project on the real estate sector will be immense. A positive impact on housing societies will be observed as connectivity and mobility to and from these areas will improve. Therefore, the demand for property in nearby societies will also increase. The new Islamabad airport is also located near the ring road project which will increase the investment opportunities in this area.

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