In a significant stride towards modernizing car parking facilities in the federal capital, the Capital Development Authority (CDA) has entered into a groundbreaking agreement with the private firm M/S AJCL. The collaboration aims to usher in a new era of digitization for parking sites across Islamabad.
The joint venture, a result of a meticulous evaluation by the CDA Board, envisages the comprehensive digitization of the existing car parking infrastructure in the metropolis. Under the terms of the agreement, state-of-the-art parking equipment and the latest parking management system will be implemented in all car parking lots within the capital.
Following a competitive bidding process, M/S AJCL emerged victorious, securing 75 percent of the parking revenue share. The remaining 25 percent will be directed to the Capital Development Authority, marking a strategic financial arrangement between the public and private entities.
The bidding process witnessed active participation, with eight firms submitting proposals before the deadline on November 30, 2023. The financial bids, conducted transparently, were unveiled in the second week of January 2024, ultimately awarding M/S AJCL the coveted project.
This initiative is poised to have far-reaching benefits, as it is expected to alleviate traffic congestion in the city and stimulate economic growth. By embracing cutting-edge technology and efficient management systems, the collaboration between CDA and M/S AJCL aligns with the broader vision of enhancing the overall urban experience for residents and visitors alike.
In a related development, the joint venture between CDA and a real estate developer is set to bring a new Housing Society to Islamabad. This additional project further underscores the commitment of the Capital Development Authority to strategic partnerships that contribute to the city’s progress and development.