Lahore: According to news reports, Ravi Urban Development Authority (RUDA) Chief Executive Officer (CEO) Imran Amin said on Saturday that the Ravi Riverfront Urban Development Project (RRUDPIsland )’s ‘Zone-12’ – a sub-phase comprising 1,500 acres – will be opened within two weeks.

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Zone-12, he said, will be a mixed-use (residential, commercial, and other) development for which the authority has purchased 700 acres of property. The government intends to construct hospitals and educational facilities. The project in question is Pakistan’s first PKR 5 trillion riverside project, which will be unveiled in Lahore.

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The bidding procedure will begin once the project is launched. In addition, the authority intends to issue a Letter of Intent (LoI) to the Sapphire Bay consortium soon. To entice investors, Mr. Imran Amin stated that the land would be offered on a delayed payment basis. Dr. Salman Shah, an economist, will be the head of RUDA, he stated.

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