The Capital Development Authority (CDA) has taken a decision to introduce a new recreational facility along Lake View Park on the Rawal Dam banks, offering residents of Islamabad a unique leisure space. Modeled after the Nizami Food Street in Baku, Azerbaijan, the facility will involve leasing spaces through open bidding to prominent firms associated with food chains. The initiative aims to construct hundreds of shops, including souvenir stores, allowing for a vibrant lakeside view. By engaging in open auctions, the CDA plans to generate revenue from the project, providing the city with an appealing lakeside attraction.
The CDA has canceled a 15-year lease granted in 2007 for various recreational purposes in Lakeview Park, with numerous leases awarded at nominal rates to favorites without open bidding. The leases, initially given for 14 to 15 years, were misused by some for hosting wedding ceremonies, violating the terms. Two 30-year leases were also revoked, and the CDA plans to auction these canceled leases, providing the existing leaseholders with the first right to match the highest offer. Registered valuers from the Pakistan Banks Association have been invited to assess the monetary value of existing setups, with the selected firm determining the value for prospective leaseholders. In case existing leaseholders do not regain the lease, new leaseholders will be obligated to pay the assessed amount to their predecessors.
The offerings through open auction include setups such as Off-Road Motor Support Pro-Go Carts, BMX Cycling, Paintball Buggy and Trampoline, Mini Golf, Golf Driving Range, Musical Play Area, Horse Riding, Mini Jets, Singing, and Rock Climbing. The lease term for the new setups will be 15 years, after which the infrastructure becomes CDA property. Additionally, 28 shops and entertainment centers in Lakeview Phase-II, currently vacant, will be leased through open auction.
This initiative aims to enhance recreational opportunities, boost local attractions, and generate revenue for the development and maintenance of Islamabad’s public spaces.
