Lahore: The Ravi Urban Development Authority (RUDA) has started working on the launch of the Ravi Riverfront Urban Development Project (RRUDP) Phase 2, which features a 5,000-acre land area alongside the riverbank, according to media sources.
Reportedly, tenders will be floated to invite expression of interest (EOIs) soon. As per the initial plan, of the said 5,000 acres; 3,000 acres will be developed for commercial use and 2,000-acre land will be used for residential units’ development. Moreover, the authority has acquired the requisite land and will issue the request for proposal (RFP) in two weeks highlighting the project details.
Under the RRUDP Phase-II, the acquired land for the project will be handed over to the development partners for initiating work. Furthermore, the authority has reported that the development partners for the development of the 2,100-acre land area have been finalised.
In a related development, Lahore Development Authority (LDA) Vice Chairman (VC) S M Imran – at a press briefing – said that the work on RRUDP is progressing and is expected to be complete in 25 years. He hinted that the project developers are working for early project delivery in 15 years.
He also said that RRUDP Phase 1 ‘Sapphire Bay’ will be developed on 2,000 acres of land and the tendering process for this phase is complete. He also said that the 46-kilometre-long megaproject will bring global standards of residential facilities to Lahore, while also preserving the water of the historic river. Mr Imran also assured that the project is self-sustaining and will not burden the national exchequer.
LDA VC revealed that the government, itself, is acquiring the land for the project, instead of the private developers (who will be later tasked with the project development).
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
