Dhabi Group to invest Rs60b in city

CM Buzdar witnesses MoU signing for construction of Lahore’s tallest building

LAHORE:

The provincial capital will get its tallest building soon as Punjab government has signed an agreement with Dubai’s Dhabi Group to resume construction of the stalled Mubarak Centre project on Ferozepur Road.

Punjab Chief Minister Sardar Usman Buzdar along with United Arab Emirates (UAE) Minister Sheikh Nahyan bin Mubarak witnessed the agreement-signing ceremony on Sunday for resumption of construction work of the mega high-rise project. As per the agreement, the Dhabi Group agreed to make an investment of Rs60 billion in Punjab. Chief Minister Buzdar met the UAE minister in Dubai, who accorded a warm welcome to him.

Sheikh Nahyan bin Mubarak announced a mega investment in the construction sector of Punjab and saidan agreement between Punjab government and the Dhabi Group in Dubai had been finalised. A memorandum of understanding (MoU) was inked during the ceremony for the revival of the Mubarak Centre project. Chief Minister Buzdar was the chief guest of the ceremony.

The Dhabi Group will construct the Mubarak Centre in Lahore under the auspices of Taavun Private Limited. As per the understanding, Punjab government would provide all possible cooperation with regard to the construction of Mubarak Centre. Expressing his views on the occasion, Chief Minister Buzdar remarked that more than Rs60 billion investment would be made in the construction sector of Lahore. The project would also provide accommodation to the international cricket teams after its completion, he added.

He disclosed that the Dhabi Group and Punjab government were going to build the tallest building in Lahore. He congratulated the head of the Dhabi Group and the officials concerned on finalising the accord. He also expressed hope that the Dhabi Group would utilise its utmost professional abilities in order to complete the historic mega project.

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The chief minister underscored that the Mubarak Centre, to be built at a cost of Rs60 billion, would prove to be a game changer in real terms. He outlined that the Punjab government had provided a conducive environment for investment owing to the vision of Prime Minister Imran Khan. He informed the participants of the ceremony that new Special Economic Zones were being constructed in the country.

Chief Minister Buzdar emphasised that a new project to be built on the bank of River Ravi would usher in a new era in Lahore. He pointed out that the Central Business District project had also been launched in the Walton area of the city. The chief minister stressed that Lahore and other areas of Punjab had entered a new phase of sustainable development. He highlighted that a ‘CM Facilitation Centre’ had been set up to facilitate the foreign investors in making investments.

Meanwhile, Chief Minister Buzdar stated in his message on the World Social Justice Day that the dream of forming a welfare society could not be fulfilled without ensuring social justice. “The societies that are devoid of social justice lag behind in the race for development”, he maintained. The chief minister added that the societies in which social justice became extinct were wiped out.

He regretted that the Kashmiri people were facing worst human rights violations and severe conditions owing to social injustice meted out by the Indian government in Indian Illegally Occupied Jammu and Kashmir. “Depriving the Kashmiri people of their fundamental needs is the worst example of social injustice,” he stated. “Today we pay glowing tribute to those who sacrificed their lives in their struggle against social injustices,” Buzdar concluded