According to the LDA advertisement, the estimated cost of the project is $7 billion. PHOTO: FILE
The Lahore Development Authority will soon shortlist up to seven companies out of the 19 that submitted expressions of interest for consultancy on Lake View City, touted as the most expensive housing project presently being developed in the province, The Express Tribune has learnt.
Nineteen companies submitted expressions of interest to the Urban Unit on August 25. The process of short-listing companies will be completed over the next 10 days, after which a maximum of seven shortlisted companies will be asked to submit their financial and technical proposals.
The LDA director general will head a strategic policy unit on the River Ravi Development Zone Project. The authority has advertised 11 job openings, including the post of project manager, for this unit.
According to the LDA advertisement, the estimated cost of the project is $7 billion. An LDA meeting concluded in July that the authority lacked the funds for the project. A feasibility study by a third party was proposed.
In a presentation given to Prime Minister Nawaz Sharif on June 22, the cost of the project was estimated as Rs179.4 billion and the estimated income as approximately Rs202.6 billion. He was told that the project would include high-end housing, commercial, institutional, cultural and recreational zones along 33 kilometres on both sides of River Ravi.
The authority aims to develop the Lake City around River Ravi to tap into the potential of adjacent areas. The Ravi siphon will form the north-eastern boundary of the project and Sundar the south-western boundary. The eastern edge of the project will lie along the northern and western periphery of Lahore city. A part of the project will lie in Sheikhupura district. The authority will develop a green zone along the peripheries of Sheikhupura, Gujranwala and Lahore.
River Ravi will be cleaned up as part of the project. There will be provision for waste water treatment according to National Environmental Quality Standards.
As much as 1,100-1,800 cusecs waste water is dumped into the river daily. The company selected for consultancy will also develop a plan for flood containment and a master plan for the river-front and public infrastructure.
Planning and Development Urban Unit Project Director Nasir Javid said an outline had been finalised for the project.
The firm selected would follow the guidelines in conducting the feasibility study. He said this short listing could happen before Eid.
Published in The Express Tribune, October 12th, 2013.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ