Satellite Town Abuha Swat
The Housing Sector is among the crucial sectors identified by the provincial government as a driver of economic growth. The housing sector is a large potential contributor to development as well as GDP growth. A burst in activity in this sector sets off a chain reaction in other allied industries. The construction & housing sector links to at least sixty industries. There has been rapid urbanization in the province over the last three decades which has greatly increased demand for housing units in the major cities.
The provincial government of Khyber Pakhtunkhwa has planned to provide the modern housing schemes in the districts so as to improve the living conditions of general public. In the overall perspective it will minimize population pressure on metropolitan city Peshawar.
The district of Swat is of the beautiful scenic valley in Khyber Pakhtunkhwa. In Swat besides local inhabitants, non local also prefer to settle due to good weather and clean environment. The Provincial Government proposes a satellite town with latest facilities so as to meet the housing requirements in Swat. The project is located in Tehsil Barikot about 3 kilometers south of Swat. Abuha Housing Scheme is already in process which is proposed to be established on about 5000 acres to meet the housing requirements.
The Provincial Housing Authority has recommended this project feasible in terms of accessibility, availability of water and seismic zoning plan. While working out FIRR it is assumed that this will take care of security risk, sensitivity risk like price variation, delayed benefits, reduced benefits and investor's miscellaneous risks. The usual FIRR for public projects is slightly above bank markup that is around 10%.
In investment context, the proposed project will offer quick profitable returns for the investors. The commercial areas, amenities plots and auction able housing plots will be a major source of generation of funds. Skilled and semi-skilled labour and construction material is already available in the area. The said Housing scheme will not only elevate the living standards of general public but will also create job opportunities for the skilled and unskilled labour. The project will increase the housing stock in the province for people from all walks of life. It will cap the haphazard growth of housing schemes from other developers.
The cost of the project is Rs.9.00 billion. The project provides an opportunity for the donor agencies / investors for investment and to recoup the capital investment with profit. It can be executed through BOT. The project is open for all the state-owned, state-supported and private entities.
The government of Khyber Pakhtunkhwa will facilitate investors for interaction with relevant agencies and is committed to partner with the investor by providing all basic infrastructure in execution of project. It will provide all legal and technical assistance to the investors. The government will provide assurance of money security.