RUDA, CBD projects very crucial for attracting foreign investment: PM

ISLAMABAD: Prime Minister Imran Khan has said that Ravi Urban Development Authority (RUDA) and Central Business District (CBD), Walton are very crucial for attracting foreign investment in the country to spur economic and business activities, ARY News reported on Thursday.

PM Imran Khan chaired a review meeting on Ravi Urban Development Authority (RUDA) and Central Business District (CBD), Walton.

PM Khan said that both RUDA and CBD are 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 is very important for the sustainability of Lahore city by protecting its environment and underground water table.

The premier 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 the sustainable growth of Lahore city.

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

Earlier, CEO RUDA briefed PM Imran Khan that the development work on roads and sewage infrastructure projects in Central Business District (CBD) is in full swing. Not only 98 per cent of work on trees relocation has been accomplished but around 5000 new trees are also being planted in the area.

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

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

The management of Central Business District (CBD) and Civil Aviation Authority (CAA) has also signed an agreement to develop a commercial district on under-utilised land of Lahore Airport under a revenue-sharing model. The development of the Industrial Estate and Rakh Jhok Forest are also underway.

The meeting was attended by Information Minister Fawad Chaudhry, Minister of State for Information & Broadcasting Farrukh Habib, SAPM on Political Communication Dr Shahbaz Gill, Punjab Local Government Minister Mian Mehmoodur Rasheed, Naya Pakistan Housing & Development Authority (NAPHDA) Chairman Lt Gen Retired 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.