Islamabad: Prime Minister (PM) Imran Khan stated that the Lahore’s Ravi Riverfront Urban Development Project (RRUDP) and Central Business District (CBD) projects are vital for attracting foreign investment and accelerating the national economy and business activities, according to a news article published on October 15.
Reportedly, the premier made these remarks while chairing a review meeting on RRUDP and CBD progress. He further stated that the goal of these two major real estate projects is to promote self-sufficiency, smart, clean, and green housing and business activities in Pakistan. He reiterated that RRUDP is critical for Lahore’s sustainability since it would protect the city’s underground water tables and environment. The premier directed the participants to tackle the legal issues impeding the projects’ successful implementation.
As per the sources, the chief executive officer of the Ravi Urban Development Authority (RUDA) appraised PM Khan on the progress of CBD and said that 98% of trees have been relocated and 5,000 new trees are being planted in the area. He was told that under a joint venture revenue-sharing model, a Saudi company has invested USD 500 million in the Bab-e-Pakistan Project, spanning 122 acres of land in Walton.
Moreover, the meeting was informed that an agreement is expected to be signed during the ongoing Dubai Expo that will yield foreign investment worth USD 250 million for CBD. The CBD and Civil Aviation Authority (CAA) administration also informed that an agreement has been signed to construct a commercial district on under-utilised land of Lahore Airport. Additionally, the meeting was told that the development of the Industrial Estate and Rakh Jhok Forest is also underway.