Mega consortium gets rights to develop phase-1 of Ravi riverfront city

riverfront phase-1

Mega consortium has successfully got the rights to develop the phase-1 of the billions of dollars worth Ravi Riverfront Urban Development Project called Sapphire Bay. 

A consortium of more than 10 firms has succeeded in getting development rights of the 2,000 acres phase-1 of Pakistan’s first mega riverfront development project in Lahore. Within a couple of days, the successful bidder’s name will be announced by the RUDA’s project owner.

Read more: Chinese companies sign MoU with RUDA to invest in Ravi Urban Development Project

RUDA’s Chief Executive Officer Imran Ameen told the media on Saturday that, “We have completed the bidding process for awarding/granting rights of developing the phase-1 (2,000 acres / Sapphire Bay) of the project. The formal announcement about the successful bidder will be made on Monday or Tuesday (May 31 or June 1).”  

“The letter of intent (LOI) will also be issued to the successful bidder soon,” he added. 

Arif Habib’s Javedan Consortium among others to develop phase-1 of Ravi riverfront city

Total eight groups/companies were pre-qualified for submitting their technical bids for the project. Chief of RUDA said that out of eight, four qualified technically and were asked to submit bids. Now out of 4, 3, including one (Javedan consortium) owned by Arif Habib Group of Companies, submitted bids. 

“Of three, Javedan’s financial bid was more than the other bidders–Bahria Town and Metracon,” Ameen added. 

According to the notification issued on August 6 last year by the Punjab government, “In exercise of the powers conferred under section 4 (4) of the RUDA ordinance 2020, the Punjab government is pleased to appoint Mr Arif Habib (Arif Habib Group), Mr Aqeel Ahmad Dhedhi (AKD Group), Mr Iftikhar Ali Malik (Guard Group of Companies), Planning and Development Board Chairman, Housing Department Secretary, Mr Javed Salim Qureshi (Pakistan Engineering Council Chairman) and Mr Kalim Ahmad Siddiqui (Pakistan Council for Architects & Town Planners) as members of the authority for a period of three years.”  

“He (Mr Habib) had resigned last year—probably a month or so after notification’s issuance,” the RUDA CEO clarified. “And since he is no more member of the authority, there is no conflict of interest in this regard,” he said. 

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