Malik Aslam c.o.o Capital Smart City Interview Part 1
Below is the transcription of the interview by Rizwan Cheema (CEO Makaan Solutions) with Mr. Malik Aslam (COO Capital Smart City). The content is transcribed from the interview respectively. The views and content do not represent Makaan Solutions.
Any Type Of Query
Makaan Solutions have transcribed the interview of Mr. Malik Aslam (COO Capital Smart City) in question and the answer form as under.
What is the Vision of Capital & Lahore Smart City in 2022?
2022 will be the year of Smart City. Our Smart cities, Capital and Lahore Smart City will achieve a lot. Whole Vision will explain itself while answering the next questions.
Capital and Lahore Smart City are HRL Group's projects, but why is Lahore Smart City Development ahead of Capital Smart City?
Capital Smart City is our Flagship Project. We bring the concept of Smart City into Pakistan through Capital Smart City Islamabad for the first time. It took 2 whole years to establish smart city concept and We were affected by Covid too. When we started Lahore Smart City, implementation was easy, and it took only 6 months to establish the idea. Because we already established the central concept at the time of Capital Smart City.
Moreover, CSC is a vast project. LSC development is 1/10th of CSC. Because CSC needs more cut works as the area here is tough. Besides, notable international brands like La Maer and Golf Course have been established here. So, it does need more time than LSC. On the other hand, Lahore Smart City is very in demand, and there is a certain pressure from the public. The land is also very even, so development is not taking long here.
Why are Capital Smart City's Overseas Blocks preferred over Executive Blocks?
Our Effort was always in focus. Because of Covid, we have been affected too. During the lockdown, we started night shifts to overcome the gap. Our focus was on Overseas Blocks. WE are doing Overseas Central Balloting in Feb 2022 and overseas prime Balloting in May 2022. Right Now, our focus is on Executive Blocks. Executive 2 is also on our new map. 80% of the land has been bought for executive 2. In the next 5 to 6 months, the Executive blocks situation will be the same as today's overseas blocks.
Why is Capital Smart City Golf Course developing so fast?
For the benefit of members, some features must come first. The golf course will bring a friendly environment. It will be a serene and flowery area for the people who live here. As I said earlier,2022 will be the year of smart cities; we are planning to shift many people to live here. Schools, hospitals, and Sports areas like Golf courses are the basic requirements to build a prosperous housing society. From March 2022, Flowering and planting will be started here.
Why are 99% of clients facing issues with Capital Smart City Portal?
Yes, there are some complaints about portal that payments do not appear quickly. It happened to Saudi Arabia, Canada, and Sometimes America. Maybe there are some restrictions on these countries. Dollar’s payments routes from these countries to America. Banks scrutinized the whole process thoroughly. So, it took payment 6 to 7 weeks to appear on the portal. But locally from Pakistan or UK, people are not facing these issues. If you encounter any other problems related to the portal, you can always contact our support.
Is there overselling in Lahore Smart City?
We are selling based on land and NOC. Our chairman's motto has always been not to oversell and not delay anything. You will get the plot after you buy it. It will not be like you will not get any plot after balloting; you will get a plot. LSC is very demanding. Demand is 10th times of sold plots today. When we get a new NOC, which can happen in a few weeks, we will provide only those plots that have NOC, not more than that.
What do we have achieved in Capital Smart City Islamabad in four years?
CSC is our Flagship project that comes to Pakistan for the first time. Understanding the idea and selection of land took whole 2 years. There are many societies in Islamabad that have issues with connectivity and water. Alhamdulillah, we do not have those problems. Once the Interchange is constructed, there will be no problem with connectivity in the next 100 years. This Interchange will indeed build this year, and we have applied for 2nd Interchange. Right now, we have more than 60,000 Kanal. Almost 65,000 Kanal land browning has been done. Holding and pockets land is about more than 80,000 Kanal. Across the motorway, for phases 3 and 4, we have already got 35,000 Kanal. Once the pockets are added, it will be more than 50,000 Kanal. It will be more than 150,000 Kanal.
What do we have achieved in Capital Smart City Islamabad in four years?
CSC is our Flagship project that comes to Pakistan for the first time. Understanding the idea and selection of land took whole 2 years. There are many societies in Islamabad that have issues with connectivity and water. Alhamdulillah, we do not have those problems. Once the Interchange is constructed, there will be no problem with connectivity in the next 100 years. This Interchange will indeed build this year, and we have applied for 2nd Interchange. Right now, we have more than 60,000 Kanal. Almost 65,000 Kanal land browning has been done. Holding and pockets land is about more than 80,000 Kanal. Across the motorway, for phases 3 and 4, we have already got 35,000 Kanal. Once the pockets are added, it will be more than 50,000 Kanal. It will be more than 150,000 Kanal.
When will Capital Smart City Commercial Plots deliver?
Commercial plots can be started. The person who wants to construct plazas or shops can start. It will be given in the next 2 to 3 months.
Why is Capital Smart City Resale Value less than Lahore Smart City?
As if it's not my field, but in Lahore Smart City, people have paid 1 to 2 instalments. When they sell a little profit, then the ratio seems high. But in Capital Smart City Islamabad, people have spent almost 50% of payments. If they earned at least suppose 2 lakhs, it would seem less than LSC. It's not like owning is more minor in CSC. It is high. Once the Interchange is constructed, prices, and owns will jump. Then the profit will be more than LSC.
Why is Capital Smart City Resale Value less than Lahore Smart City?
As if it's not my field, but in Lahore Smart City, people have paid 1 to 2 instalments. When they sell a little profit, then the ratio seems high. But in Capital Smart City Islamabad, people have spent almost 50% of payments. If they earned at least suppose 2 lakhs, it would seem less than LSC. It's not like owning is more minor in CSC. It is high. Once the Interchange is constructed, prices, and owns will jump. Then the profit will be more than LSC.
Why is Capital Smart City giving importance to Silicon Valley?
As this Smart City project pioneer Pakistan, we want to make itself Sustainable. This requires a workspace for people here. Future is IT, IoT and AL. Almost 68% of our population is youth. If only 10% go to IT, they will be in crores. Our chairman's Vision is to provide them space under one roof. There will be office spaces, high-speed internet, and an IT university. Almost 2400 Kanal is for CSC Silicon Valley and 1200 Kanal for LSC. There are also 2-star service apartments and hotels. Overall, Silicon Valley will be self-sustainable. Here people will achieve their future endeavors.
