Amongst the development projects the PTI government initiated, Riverfront Urban Development Project (RRUDP) was the biggest one. It is a mage project in Lahore District, which runs along the Ravi River in a northeast to southeast direction. It includes the construction of a 41,304-hectare planned city and rehabilitating the Ravi River into a perennial freshwater body.
Due to the change of government, its development pace slowed down. Now it seems that it is again going to be active. On the three-day Dubai International Property Show (IPS)-2023, held in United Arab Emirates (UAE), many fruitful meetings of Ravi Urban Development Authority (Ruda) and various business group were held. The investors are ready to invest around $600 million in a number of sections of the Ravi Riverfront Urban Development Project.
The Ruda officials represented Pakistan and attracted interested international businessmen and expatriate Pakistanis. Imran Amin, Ruda’s Chief Executive Officer (CEO), said that seven Memorandum of Understanding (MoUs) were signed at the three-day property show. Four investors visited Pakistan for a site visit to mature the MoUs.
After the event, 15 meetings with different business groups took place out of which eight were successful, leading to portfolio management and inventory liquidation with firms covering avenues like G2G, B2B and PPP projects, H&S Global and ISHRAQ.
The CEO of Ruda, Imran Amin, said on Friday, “These meetings provided an opportunity for Ruda to explore potential collaboration opportunities and promote its development projects to a wider audience. The follow-up visit to the UAE was also an excellent opportunity for Ruda to build on the success of our participation in IPS.”
The Prime Minister has asked the concerned ministers to attract international investors to control the country’s deteriorating economic situation. The Ravi Urban Development Authority step seems quite appropriate in this direction. If the things move correctly with reference to the interest of global investors in the concerned project, PakistanÂ’s economy may again stand on a strong footing. ???