Lahore: The Ravi Urban Development Authority (RUDA) has begun work on the Ravi Riverfront Urban Development Project (RRUDP) Phase 2, which includes a 5,000-acre land area along the riverbank.
According to reports, tenders to solicit expressions of interest (EOIs) are expected to be released soon. According to the initial proposal, 3,000 acres of the 5,000 acres would be developed for business purposes, while the remaining 2,000 acres will be used to build residential units. Furthermore, the authority has acquired the necessary land and will release a proposal (RFP) outlining the project specifications in two weeks.
The acquired land for the project will be handed over to the development partners for work to begin under the RRUDP Phase-II. The development partners for the 2,100-acre property area have also been finalized, according to the authority.
In a related development, Lahore Development Authority (LDA) Vice Chairman (VC) S M Imran – at a press briefing – said that the work on RRUDP is progressing and is projected to be complete in 25 years. He hinted that the project developers are aiming for a 15-year project completion date.
RRUDP Phase 1 ‘Sapphire Bay’ will be developed on 2,000 acres of land, according to him, and the tendering procedure for this phase is complete.
He further stated that the 46-kilometer megaproject will bring world residential standards to Lahore while also safeguarding the ancient river’s water. Mr Imran further stated that the project is self-sustaining and will not place a financial strain on the government.
The government, rather than private developers, is acquiring land for the project, according to the LDA VC (who will be later tasked with the project development).