BEIJING: More than 100 Chinese Companies have obtained prequalification documents for expressing interest in construction of the tallest building of provincial metropolis in Joint Venture (JV), under public-private partnership mode, during an Investment Road Show in Pakistan Embassy at Bejing, China.
Spreading over an area of 22 kanals, construction of this 28-story Twin Tower at Jail Road, Lahore, will cost Rs. 4.25 billion which will be the biggest commercial hub in the city. It will house offices, showrooms, shops and brand outlets besides a food street.
The Road Show was organized on the directive of Chief Minister, Punjab, Muhammad Shahbaz Sharif for inviting foreign financiers for investing in projects in Pakistan.
Pakistan’s ambassador to China Masood Khalid Khalid, Director General Lahore Development Authority Zahid Akhter Zaman and Chief Engineer Asrar Saeed briefed representatives of more than 150 Chinese companies about this project.
Director General LDA, Zahid Zaman told the businessmen about the background, objective and technical details of the project. He said that Chief Minister Punjab, Muhammad Shahbaz Sharif had directed the LDA to build a modern tower equipped with modern facilities for the people. About the project, he said that the proposed tower would have offices, departmental stores, food outlets and cinema and would be built in the centre of Lahore.
He told that LDA had been empowered to grant all the approvals regarding plans, development and construction.
“We have invited private sector, developers and international partners to come forward and help us with their capital, experience, expertise in real estate development,” he added.
He also held separate meetings with these companies and presented them printed material about investment opportunities in Pakistan.
Representatives of Pakistani banks were also present to give financial advice to the Chinese companies.
Earlier, Pakistan’s Ambassador to China, Masood Khalid briefed Chinese companies about the attractive investment climate in Pakistan and invited them to tap investment opportunities offered by the real estate sector.
Welcoming the representatives of a large number of Chinese companies who attended a road-show offering investment opportunities in a ‘Twin Tower’ project in Lahore organized by Lahore Development Authority (LDA) and Commercial Section of the Embassy of Pakistan, he said, the Pakistan government was making earnest efforts to bring about prosperity and development in the country.
“We are also partners in the development and implementation of the common objective of the One Belt One Road Initiative initiated by Chinese President Xi Jinping,” he added. He said that China Pakistan Economic Corridor (CPEC) was the flagship project of the One Belt One Road Initiative, which would bring about development and prosperity for not only both the friendly countries but also for the region as a whole.
Masood Khalid said different projects of energy, infrastructure development, roads network and bridges had been launched under the CPEC and Chinese companies were actively taking part in their implementation.
