RUDA, CBD projects in Lahore crucial for attracting foreign investment: PM

RUDA, CBD projects in Lahore crucial for attracting foreign investment: PM

ISLAMABAD, Oct 14 (APP): Prime Minister Imran Khan on Thursday said that Ravi Urban Development and Central Business District projects in Lahore were very crucial for attracting foreign investment and to spur economic and business activities in the country.

He was chairing a review meeting on Ravi Urban Development Authority (RUDA) and Central Business District (CBD), Walton.

The Prime Minister said that both RUDA and CBD were flagship real estate projects of the government to promote smart, self-sustaining, clean and green housing and business activities in the country.

He reiterated that especially RUDA was very important for the sustainability of Lahore city by protecting its environment and under-ground water table, a press release issued here by the PM Media Wing said.

The Prime Minister directed the authorities concerned to plan a massive media communication strategy to educate people on the importance and benefits of these two mega real estate projects, especially RUDA, for a sustainable growth of Lahore city.

He also directed to resolve various legal issues hampering the successful implementation of these projects.

Earlier, Chief Executive Officer (CEO) RUDA briefed the Prime Minister that the development work on roads and sewage infrastructure projects in Central Business District was in full swing.

Not only 98% work on trees relocation has been accomplished but around 5000 new trees were also being planted in the area, he was told.

The Prime Minister was also apprised that Bab-e-Pakistan Project on 122 acres of land in Walton, Lahore was being developed with an investment of US $ 500 million by a Saudi company under a Joint Venture (JV) revenue-sharing model.

 Moreover, CBD was all set to sign agreement to attract foreign investment worth US $ 250 million during the ongoing Dubai Expo.

The management of Central Business District and Civil Aviation Authority (CAA) has also signed an agreement to develop Commercial District on under-utilized land of Lahore Airport under a revenue-sharing model.

The development of Industrial Estate and Rakh Jhok Forest are also underway.

The meeting was attended by Information Minister Ch. Fawad Hussain, Minister of State for Information Farrukh Habib, Special Assistant to PM on Political Communication Dr Shahbaz Gill, Punjab Local Government Minister Mian Mehmood ur Rasheed, Chairman Naya Pakistan Housing and Development Authority (NAPHDA) Lt. Gen. ® Anwar Ali Haider, Advocate General Punjab Ahmed Awais, CEO RUDA Imran Amin and other senior officers concerned.

Punjab Housing Minister Malik Asad Khokhar, Advisor to CM Punjab Dr Salman Shah, Chief Secretary Punjab and other officers concerned from Punjab joined the meeting via video link.