The government is expected to earn an estimated revenue of Rs. 400 billion from phase one of the Ravi City comprising 5000 acres. The construction of the city is expected to begin soon.
It has been revealed through a review meeting of the Ravi Urban Development Project chaired by Prime Minister Imran Khan himself.
Federal Ministers Senator Shibli Faraz and Ali Haider Zaidi, Chairman Naya Pakistan Housing Authority Lt. General (retd) Anwar Ali Haider, and Chairman of Pakistan Islands Development Authority (PIDA) Imran Amin were also present during the meeting.
Ravi Urban Development Authority present at the meeting
Meanwhile, Governor Sindh Imran Ismail, Advisor to Punjab Chief Minister Dr. Salman Shah, Special Assistant to CM Dr. Firdous Ashiq Awan, Chairman of Ravi Urban Development Authority (RUDA) Rashid Aziz, and other senior officers participated in the meeting through a video link.
During the meeting, Chairman RUDA explained to the premier that 3,000 out of the 5,000 acres of phase-I are going to be utilized for protection against floods and the remaining will be used for construction.
Rashid Aziz said that phase-I of the Ravi City has been named ‘Sapphire Bay.’
He added that the development of the road for phase-I was started on 29 December 2020. RUDA will issue RFPs for investors and developers by next week, concluded Chairman RUDA.
Satisfied with the progress the Ravi City project has made so far, PM Imran Khan directed Chairman RUDA to ensure the timely completion of Sapphire Bay.
Today I felt great excitement in doing stone laying of Ravi City, one of the biggest mega projects we have launched in our history.This will save Lahore by stopping spread of unplanned urban sprawl, raise water table & revive River Ravi preventing it from becoming a sewerage nala
— Imran Khan (@ImranKhanPTI) August 7, 2020
Prime Minister Imran Khan in December 2020 was informed that the Chinese government and companies were keen to invest $ 3 billion in the Ravi City project in Lahore. The investment did not include any loan.
The Ravi Riverfront Urban Development Project (RRUDP) is an approved urban development megaproject in Lahore District, Punjab, Pakistan, that runs along the Ravi River in a northeast to southwest direction.
GVS News Desk