ISLAMABAD: The Supreme Court’s 2019 verdict, which provided legal cover to the otherwise controversial One Constitution Avenue project, significantly boosted its market value and attracted around 70 new high-net-worth investors.
Former prime minister Imran Khan was also among these investors, but sources told Dawn that the cricketer-turned politician had already sold his apartment (C11E) in 2022 and this property is now registered in the name of Shahid Naseer.
The Supreme Court bench, headed by then chief justice Saqib Nisar and comprising Justices Ijazul Ahsan and Faisal Arab, in its verdict had directed the defaulting construction company to pay Rs17.5 billion to the Capital Development Authority (CDA) in eight annual installments. Before becoming a judge, Justice Ahsan had also served as a lawyer of the said company.
The company deposited first installment of Rs1.7 billion, but later reneged on its commitment.
SC’s 2019 ruling triggered investment surge in contested high rise
According to the sources, the project witnessed a surge in buying and selling activity, following the 2019 SC verdict and around 70 new individuals made their investments in this multi-billion rupees project.
According to the documents, the company had deposited Rs2.9 billion, which is 16 per cent of the total cost.
Prominent among those who own apartments in the building include Commerce Minister Jam Kamal Khan, former State Bank governor Ashraf Wathra, former Pemra chairman and now TV anchor 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 celebrity Faryal Gauhar, former Pakistan Cricket Board chairman Ehsan Mani, former defence minister late Ahmed Mukhtar, Khawaja Asad, son of Defence Minister Khawaja Asif, former MNA Kashmala Tariq, Saqib Barjees, the son of former federal minister Barjees Tahir, former CDA director general Sohail Durrani, TV anchorperson Nasim Zehra, former chief land commissioner Sajid Hotiana, Princess Shalalay Abbasi and Dr Fazeela Abbasi.
Last week, the CDA, assisted by police, attempted to get the building vacated following an Islamabad High Court (IHC) order upholding the authority’s decision to cancel lease of the plot, which had originally been allotted for construction of a five-star hotel.
The owner later constructed the residential apartments in violation of terms and conditions.
Later, Prime Minister Shehbaz Sharif intervened and directed the CDA to halt the operation.
He also formed a committee to review the matter, stating that a final decision would be made in light of the committee’s recommendations.
The sources said that the developer had submitted an indemnity bond committing to compensate third parties for any claims arising from the project.
In 2017 the CDA invited apartment owners to submit claims for compensation, but fewer than 20 responded.
The CDA had originally cancelled the lease of the 13.5-acre plot in July 2016 due to multiple violations.
Although the IHC upheld the cancellation, the SC restored the lease in 2019, subject to payment of Rs17.5 billion in installments.
Since its auction in 2005, the project has remained mired in controversy.
The CDA auctioned the land for Rs4.8 billion but handed over possession after receiving only Rs800 million.
Published in Dawn, May 5th, 2026
