- Rawalpindi Ring Road project generated Rs130 billion in property deals since inception in 2017, according to new inquiry findings.
- Fresh official findings reveal 18 politically-connected individuals and 34 influential builders and property tycoons acquired around 64,000 kanals of land within limits of Rawalpindi Ring Road project.
- Value of land was expected to multiply once work on the Rawalpindi Ring Road project started.
ISLAMABAD: More than Rs130 billion has been made in property deals as part of the Rawalpindi Ring Road project since its conception in 2017, an initial inquiry into the scam found.
According to the new official findings, 18 politically-connected individuals and 34 influential builders and property tycoons have acquired around 64,000 kanals of land in different deals within the limits of the Rawalpindi/Attock loop, Paswal Zigzag, GT Road and Islamabad Margalla Avenue, The News reported.
The value of this land was expected to multiply once work on the Rawalpindi Ring Road project started.
An examination of official records, files and initial findings of investigators linked with the project found that these 52 individuals, either directly or through frontmen, collectively acquired over 63,828 kanals of land by paying an estimated Rs31 billion to the real owners. Some portions of the lands were allegedly grabbed in the last four years.
Societies and property…