Lahore: Ravi Urban Development Authority (RUDA) Chief Executive Officer (CEO) Imran Amin on Saturday said that the Ravi Riverfront Urban Development Project (RRUDP)’s Island ‘Zone-12’ – a sub-phase covering 1,500 acres- will be launched within two weeks, according to news sources.
He stated that Zone-12 will be a mix-use (residential, commercial, etc) development for which the authority has acquired 700 acres of land. The government is planning on building hospitals and educational institutions. The said project is Pakistan’s first PKR 5 trillion riverfront project to be launched in Lahore.
Once the project is launched, the bidding process will start. Also, the authority plans to issue the Letter of Intent (LoI) to the consortium of Sapphire Bay soon. Mr Imran Amin mentioned that the land will be offered on a deferred payment model to attract investors. He also added that the economist, Dr Salman Shah, will be RUDA’s chairman.
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.
