Govt to convert One Constitution Avenue into five-star hotel after JIT uncovers alleged fraud

The federal cabinet has approved a JIT report on alleged wrongdoing at Islamabad’s One Constitution Avenue and plans to restore the building’s intended use as a five-star hotel, Profit by Pakistan Today reported. Planning Minister Ahsan Iqbal said investigators found bidding irregularities, rule changes favouring developers and unlawful apartment sales, despite the project’s original hotel approval.

The report names Abdul Hafeez Sheikh as an alleged central figure and implicates former Capital Development Authority officials, including ex-chairman Kamran Lashari. The government says it has regained possession and intends to complete the conversion within months, while pursuing talks with an international hotel operator. It also plans to refund affected investors’ principal, adjusted using KIBOR, and has directed NAB to continue investigations.