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Ravi Riverfront Project bags foreign investment worth $8bn to develop “world’s largest riverfront modern city”

Shahzaz ud din

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Ravi Riverfront Project bags foreign investment worth $8bn to develop “world’s largest riverfront modern city”
AvatarWritten by Hamza ZakirJan 20 · 1 min read


Touted to become the world’s largest riverfront modern city upon completion, the highly-anticipated Ravi Riverfront Urban Development Project (RRUDP) has managed to attract foreign investment worth $8 billion.
As reported by Global Village Space, the information was disclosed by Ravi Urban Development Authority (RUDA) Member Iftikhar Ali Malik after meeting with a delegation of builders and developers that was jointly chaired by Zain Zubair Khalid Mirza and Shehroz Hassan on Sunday.
According to Malik, the Chinese government along with several Chinese companies is interested in investing up to $3 billion in the project initially. He noted that this particular investment would exclude all kinds of loans.
Meanwhile, a global investment consortium by the name of ANGCC Global has also offered an investment sum of $5 billion on a partnership basis.
RUDA has also signed Memorandums of Understanding (MoUs) with two more Chinese companies, with one of them being a member company of the China Road and Bridging Company (CRBC) conglomerate while the other is a China Gezhouba Group Company Limited (CGGC). Both of these companies have also signed an MoU for a multi-billion-dollar investment in this megaproject.
The massive RRUDP project is expected to generate a number of socio-economic benefits for Punjab. It is going to create tremendous employment opportunities, ensure water security, fulfill housing needs, and would help run numerous industries. This 46-kilometer-long waterfront project is said to have 13 special centers including a health city, a knowledge city, a commercial city, a sports city, and an innovation city.
The project is inspired by similar developments around River Thames in London. Once completed, the whole 44000-acre city project is expected to upgrade the living standards of its inhabitants and contribute to healthy economic activity in the region.
 

Shahzaz ud din

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Dubai Inspired City in Lahore | Ravi Riverfront Urban Development Project Details & Rates
s work started on Ravi riverfront project Lahore?|FWO|RRUDA|RRFUDP|Latest update 2021|Breaking news
 
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KaiserX

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Such projects should be initiated in Karachi, islamad, peshawer, etc...

there is such a huge demand for housing in Pakistan. The investment will pay for itself.

the federal govt should provide huge incentives to developers and land upfront as well similar to what is done in China.

The tax benefits itself will be enourmous
 

ziaulislam

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Hope it is not Dubai inspired, the fake Plastic city.

And hope it is Singapore inspired with a more sustainable and inclusive development.
govt needs to do alot of structural changes
i think the mortgage is resolved and i govt is able to create savings for people rather then paying them pensions would create huge amount of fiscal space


IK ideas are all great (education, universal health insurance, investment, housing, savings/chnaging how we pay pension, civil servant planning and list is long) but i think the execution is slow, though, its not easy to move through this beuacracy
 

ziaulislam

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one thing people are ignoring is huge foreign dispora that historically doesnt trust the PMLN/PPPP govt..they can invest huge if they see IK govt..

i said this before, alot of them are just doing wait and see..to see how IK govt plays out. Majority of them will step in after 2023..

as we arent still clear if IK will ever be able to get a second term
 

ZAMURD

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one thing people are ignoring is huge foreign dispora that historically doesnt trust the PMLN/PPPP govt..they can invest huge if they see IK govt..

i said this before, alot of them are just doing wait and see..to see how IK govt plays out. Majority of them will step in after 2023..

as we arent still clear if IK will ever be able to get a second term
Khan's chances of winning again in 2023 are great. There is no PML-N left to get 80 MNAs.
KP is with Khan. If khan makes South Punjab province, more seats from there.
Karachi circular, green line will be inagurated before election so lets see.
 

ZAMURD

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Loo gee aa gai hamri ma***** judiciary.



LHC stays Ravi project till EIA report approval
Wajih Ahmad SheikhPublished January 3, 2021
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The Lahore High Court (LHC) has stayed work on the Ravi Riverfront Urban Development Project till the approval of its Environmental Impact Assessment (EIA) report. — File photo

The Lahore High Court (LHC) has stayed work on the Ravi Riverfront Urban Development Project till the approval of its Environmental Impact Assessment (EIA) report. — File photo
LAHORE: The Lahore High Court (LHC) has stayed work on the Ravi Riverfront Urban Development Project till the approval of its Environmental Impact Assessment (EIA) report, besides asking the government to file compliance report with regard to meeting environmental standards in the Naya Pakistan Housing Project (NPHP).
Justice Shahid Karim in a verdict released on Saturday about the Dec 31 hearing of multiple petitions involving different environmental issues said since the process for the grant of EIA of the urban development project was under way, it was directed that no work should be commenced at the site by [Ravi Urban Development Authority (Ruda)] until the approvals were granted by the Environmental Protection Department (EPD).
Additional Advocate General Anis Hashmi on Thursday submitted some record related to the EIA report on the riverfront project and also placed on record a letter written by the Ruda chairman to the EPD director general on Dec 30 seeking information about legal requirements for submission of the EIA report.
Previously, the judge had sought reports from the federal and provincial governments about the compliance with environmental regulations in the project.

Besides the riverfront project, Justice Karim directed an assistant attorney general to apprise the court of the measures being taken to comply with environmental standards regarding the Naya Pakistan Housing Project being built by an authority set up by the federal government. The court sought its compliance report to meet environmental standards.
Judge seeks report on compliance with environmental standards in Naya Pakistan Housing Project
Commission report on smog
About the steps being taken to control smog, a judicial water and environmental commission meanwhile filed a report stating that 38.72 per cent of the brick kilns operating in Punjab had already adopted zigzag technology.
Besides, it said, a number of industrial units had been sealed and their owners booked for violation of the provincial disaster management authority’s directions regarding smoke emission.
The report further said a large number of vehicles had been impounded and fines imposed worth Rs69 million for not conforming to the standards of the Environmental Protection Agency.
The judge directed the Lahore Development Authority to launch a campaign against encroachments and illegal parking of cars in Samanabad, Gulshan-i-Ravi, Bund Road and Allama Iqbal Town (Moon Market) as pointed out by the commission.
The public interest petitions were represented by advocates Abuzar Salman Niazi, Azhar Siddique, Sheraz Zaka and Ahmad Rafay Alam. The next hearing would be fixed later by the registrar office.
Published in Dawn, January 3rd, 2021


 

Salahuddin Ayyubi

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Khan's chances of winning again in 2023 are great. There is no PML-N left to get 80 MNAs.
KP is with Khan. If khan makes South Punjab province, more seats from there.
Karachi circular, green line will be inagurated before election so lets see.
It he makes South Punjab, he can't potentially lose old Punjab, due to he fact that pmln still has huge base in central Punjab. Correct me if I'm wrong
 

khanmubashir

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Ravi Riverfront Project bags foreign investment worth $8bn to develop “world’s largest riverfront modern city”
AvatarWritten by Hamza ZakirJan 20 · 1 min read

Touted to become the world’s largest riverfront modern city upon completion, the highly-anticipated Ravi Riverfront Urban Development Project (RRUDP) has managed to attract foreign investment worth $8 billion.
As reported by Global Village Space, the information was disclosed by Ravi Urban Development Authority (RUDA) Member Iftikhar Ali Malik after meeting with a delegation of builders and developers that was jointly chaired by Zain Zubair Khalid Mirza and Shehroz Hassan on Sunday.
According to Malik, the Chinese government along with several Chinese companies is interested in investing up to $3 billion in the project initially. He noted that this particular investment would exclude all kinds of loans.
Meanwhile, a global investment consortium by the name of ANGCC Global has also offered an investment sum of $5 billion on a partnership basis.
RUDA has also signed Memorandums of Understanding (MoUs) with two more Chinese companies, with one of them being a member company of the China Road and Bridging Company (CRBC) conglomerate while the other is a China Gezhouba Group Company Limited (CGGC). Both of these companies have also signed an MoU for a multi-billion-dollar investment in this megaproject.
The massive RRUDP project is expected to generate a number of socio-economic benefits for Punjab. It is going to create tremendous employment opportunities, ensure water security, fulfill housing needs, and would help run numerous industries. This 46-kilometer-long waterfront project is said to have 13 special centers including a health city, a knowledge city, a commercial city, a sports city, and an innovation city.
The project is inspired by similar developments around River Thames in London. Once completed, the whole 44000-acre city project is expected to upgrade the living standards of its inhabitants and contribute to healthy economic activity in the region.
Will by domicile and management wise it's a new city or expansion of Lahore city??
 

Mentee

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Establish govt's sub offices outside of lahore instead of as usual choking the resources meant for the other 10 crore .
 

Salza

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Hope it is not Dubai inspired, the fake Plastic city.

And hope it is Singapore inspired with a more sustainable and inclusive development.
bura nah maana bhai, phele apni (Pakistanis) aukuaat dekho phir Dubai or Singapore ki baat kero....it is sheer embarrassing to dismiss Dubai like this by calling it a fake plastic city...abey bc hum 5% dubai jaise be kuch bana ley tu it will be a huge achievement for us ...
Such projects should be initiated in Karachi
In Karachi where ? eik BTK hai quality project but we have even made that controversial now.. Lets see ARY lugana ka kya bunta hai
 

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