Former prime minister Imran Khan sold his apartment in the One Constitution Avenue building in 2022, with the flat now registered in the name of Shahid Naseer, media reports have claimed.
Reports quoted sources as stating that Khan had been among the investors in the project, which later saw increased buying and selling activity following the Supreme Court’s 2019 ruling.
The project, which had remained under litigation for years, witnessed a rise in its market value after the verdict, attracting around 70 new high-net-worth investors.
The Supreme Court (SC) bench, headed by then chief justice Saqib Nisar and comprising Justices Ijazul Ahsan and Faisal Arab, had directed the defaulting construction company to pay Rs17.5 billion to the Capital Development Authority (CDA) in eight annual instalments. Before joining the bench, Justice Ijazul Ahsan had previously served as a lawyer for the company.
The company deposited the first instalment of Rs1.7 billion but later defaulted on the remaining payments.
Following the 2019 judgment, investment activity increased, with sources estimating that around 70 new individuals joining hands with the company.
Documents show the company has so far deposited Rs2.9 billion, equivalent to 16 percent of the total cost.
Among apartment owners in the complex are Commerce Minister Jam Kamal Khan, former State Bank governor Ashraf Wathra, former PEMRA chairman Absar Alam, former Chief Justice of Pakistan Nasirul Mulk, former Chief Justice of Lahore High Court Iftikhar Hussain Chaudhry, former naval chief Mohammad Asif Sandila, former foreign secretary Salman Bashir, retired Lt Gen Ahsan Azhar Hayat, television personality Faryal Gauhar, former PCB chairman Ehsan Mani, former defence minister Ahmed Mukhtar, Khawaja Asad, son of Defence Minister Khawaja Asif, former MNA Kashmala Tariq, Saqib Barjees, son of former minister Barjees Tahir, former CDA DG Sohail Durrani, anchorperson Nasim Zehra, former chief land commissioner Sajid Hotiana, Princess Shalalay Abbasi and Dr Fazeela Abbasi.
Last week, the Capital Development Authority, assisted by police, attempted to vacate the building following an Islamabad High Court order that upheld cancellation of the plot lease, which had originally been allotted for a five-star hotel.
The developer later constructed residential apartments in violation of the original terms and conditions.
The operation was halted after intervention by Prime Minister (PM) Shehbaz Sharif, who directed the CDA to stop the move and formed a committee to review the matter.
Media reports have said that the developer had submitted an indemnity bond assuring compensation to third parties for any claims arising from the project.
In 2017, the CDA invited apartment owners to submit compensation claims, but fewer than 20 responded.
The lease of the 13.5-acre plot was originally cancelled in July 2016 over multiple violations. Although the Islamabad High Court upheld the cancellation, the Supreme Court restored the lease in 2019, subject to payment of Rs17.5 billion in instalments.
The project, auctioned in 2005, has remained under dispute since its inception, with the CDA having auctioned the land for Rs4.8 billion but handing over possession after receiving only Rs800 million.
