Lahore Central Business District: Auction of first five plots to be held on August 4

LAHORE: Auction of first five plots in the Lahore Central Business District, being built in the provincial metropolis, will be held on August 04, 2021, which may attract revenue of Rs13 billion.

This was disclosed at a review meeting held under the Chairmanship of Prime Minister Imran Khan here on Thursday to review the progress on the Lahore Central Business District and Ravi City.

State Minister for Information Farrukh Habib, Special Assistant to PM Dr Shahbaz Gill, Chairman Naya Pakistan Housing Authority Lt Anwer Ali Haider (retd), Vice Chairman LDA Sheikh Muhammad Imran participated in the meeting.

The meeting was informed that second phase of the central business district will be launched soon after the auctioning of plots in first phase.

The meeting was further informed that a Jhoke forest is being built on 24,000 kanals of land in Ravi City to protect the environment. The forest will be monitored through smart censors and 'Huawei' company is providing technical assistance in this regard while, Knowledge Park, being setup on 150 acres of land, is also an important part of this project, the meeting was further informed.

It was also disclosed that a comprehensive strategy has been developed for encouraging urban forest in Ravi city which included protection of forest and Knowledge Park besides setting up public parks, botanical gardens, bird sanctuaries, butter fly parks and gardens. Butterfly Park is being developed on international standards with the consultation of experts.

It was highlighted that over 1,000 industries would be set up within the country's first renewable industrial zone spreading at an area of 2000 acres in Ravi Urban City. The industrial zone will offer the facilities like information technology parks, cold storage, landfill sites, low-pollution and green industry, green reserves and water treatment plants. In addition, a waste power plant will be installed in the project.

In his remarks on the occasion, the Prime Minister said both the projects would play a key role in resolving the problems of Lahore city and promote economic activity.

He directed formulation of a comprehensive strategy for the unhindered progress on the projects. Finance Minister Shaukat Fayyaz Tareen, Provincial Minister for Housing Punjab Mian Mahmood ur Rasheed, Adviser to Punjab Chief Minister Dr Salman Shah, CEO Ravi Urban Development Authority Imran Amin and senior officials participated through video link.

Copyright Business Recorder, 2021