| Islamabad: The Ravi Urban Development Authority (RUDA) and the Central Business District (CBD) Punjab on Tuesday (February 14) signed agreements worth USD 500 million with leading international companies at the International Property Show held in the United Arab Emirates, news sources reported.
Read: Int’l Property Show kicks off in Dubai: RUDA, CBD represent Pak
Head of the Pakistan delegation, Mansoor Ahmed Janjua, said that three memorandums of understanding were signed by RUDA and four by CBD Punjab to attract foreign direct investment for their residential, commercial, and hospitality projects. Janjua also revealed that an international hospitality group had expressed interest in introducing a chain of international hotels in Pakistan, while a finance group had agreed to invest millions of dollars in the construction of low-cost prefabricated greenhouses.
The three-day event, which was sponsored by the Dubai Land Department, drew more than 120 exhibitors from over 40 nations, including the UAE, the United States, the United Kingdom, Turkiye, Cyprus, Portugal, Pakistan, and India.
Read: Govt shares land-use specifications for RUDA Industrial Estate project
It is important to note that RUDA is developing the country’s first smart city project, worth USD 9 billion, and is set to become the world’s largest riverfront development. Similarly, CBD is the first smart urban development project that is designed to become the first environmentally friendly downtown project in Lahore. |
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