RUDA declares 10 schemes illegal

Over $1.3b investment attracted for waterfront project

LAHORE:

Ravi Urban Development Authority (RUDA) has declared 10 housing projects illegal and warned citizens to avoid making investments in them.

Speaking to The Express Tribune on Saturday, RUDA Chairman Imran Amin highlighted that the authority has attracted over $1.3 billion investment for the world’s largest waterfront project and it cannot jeopardise this investment by allowing illegal and mushroom development at the site.

He disclosed that the authority has already issued notices to illegal developers, including Smart Green Farms, Garrison Garden, Dream Homes, Noor Garden, Gulshan-e-Yasin, Nighaban Homes, Toheed City, Usman Park, Education City and University Town, and decided to register cases against them.

He highlighted that some of the developers have illegally started development works and marketing of the projects. The authority will soon launch a crackdown and demolish all illegal structures being built by the developers, he indicated and added that citizens should check the legal status of the projects before making investment in any of them to avoid difficulty and losses in future.

Responding to a question, he disclosed that Saudi, Chinese and Emirati investors have already signed memorandums of understanding (MoUs) for making over $1.3 billion investment in the riverfront project. He disclosed the authority is all set to launch the biggest industrial estate of the country near Mahmood Booti under the Ravi Riverfront Urban Development Project by next week.

Overseas Pakistanis and foreign investors have already committed to making investment in the project. Dubai Sustainable City has committed to invest $750 million to develop the first sustainable city of Pakistan. Dream World Destinations has consented to invest $300 million for setting up the biggest water park.

An overseas Pakistanis’ group has signed an agreement for making an investment of another $300 million in Tech City.

All these agreements were signed recently during the Dubai Expo 2020 and Prime Minister Imran Khan’s visit to Saudi Arabia, the RUDA chairman highlighted.

In the next couple of years, massive development will start at the site for which the authority has already started building basic infrastructure, Amin said. All these ventures will create thousands of jobs for the youth and additional revenue for the government.

Answering another question, he disclosed that the authority has regularised over 1,650 existing industrial units and included them in the proposed industrial estate. A committee, comprising of local industrialists and RUDA representatives, has been constituted to solve teething problems and streamline regularisation of existing industries. Earlier, most small and medium industrial units in the area were not in the tax net but regularisation of the industries will bring them under the tax net and generate revenue for the government.

Documentation and regularisation of the industries will also help in improving the environment of the city. Earlier, most of the units were discharging their industrial waste in River Ravi without water treatment. The authority will install waste water treatment plants and make sure that no industrial waste will end in river water, he maintained.

Published in The Express Tribune, November 28^th, 2021.