Civil Group is planning to invest Rs 1.5 billion in the housing industry. The group is conducting a  feasibility study in order to develop housing projects in four cities outside the Kathmandu Valley. According to the Chairman of the group, Ichchha Raj Tamang, the study will be completed within the current fiscal year.

Tamang said that the group plans to expand real estate market outside the Kathmandu Valley. The feasibility study is being carried out in cities such as Pokhara, Hetauda, Dharan and Itahari. Tamang stated that  the construction process will begin within  the next fiscal year. He also added, “Lately, people are attracted towards individual houses rather than to apartments. So, we have planned to increase investment in the housing.”

As of now, the group has been investing in projects only based in Kathmandu Valley.  So far, Rs 7 billion is the amount invested by the group  in developing housing, apartments and commercial complexes. The group says that the houses that will be  built outside the valley will be comparatively cheaper. Tamang stated  that the houses will be built taking into consideration  consumer’s demands and buying capacity. 

The housing sector has been  experiencing a slowdown for the last three years but it has been  showing  signs of improvement lately. Tamang said that the expansion to newer cities is being done to address upcoming demands. Civil Group is planning to expand to more cities in the future.