LAHORE: The Punjab government and the Dhabi Group in Dubai have signed a memorandum of understanding (MoU) for the revival of the construction of Mubarak Centre on Ferozepur Road in Lahore.
The project was originally conceived by former chief minister Chaudhry Parvez Elahi but was shelved when Shehbaz Sharif took over the Punjab government way back in 2008.
With the signing of the MoU, the Dhabi Group has agreed to make an Rs60 billion investment in Punjab.
According to a statement issued by the chief minister’s office, Chief Minister Usman Buzdar met UAE Minister Sheikh Nahyan Bin Mubarak during his three-day visit to Dubai. Sheikh Nahyan accorded a warm reception to the chief minister and announced making mega-investment in the construction sector of Punjab.
Mr. Buzdar was the chief guest at the MoU signing ceremony as the Dhabi Group agreed to construct Mubarak Centre in Lahore under the auspices of Taavun Pvt Ltd.
The chief minister said the Punjab government would provide all possible cooperation to construct the tallest building Mubarak Centre in Lahore. He said over Rs60 billion investment would be made in the construction sector of Lahore. It would provide accommodation to international cricket teams with the completion of this project.
He hoped that the Dhabi Group would utilize its utmost professional abilities to complete this historical mega project to make it a game-changer in real terms. He said the Punjab government provided a conducive environment for investment owing to the vision of PM Imran Khan.
The chief minister emphasized that a new project to be built on the bank of River Ravi would usher in a new era in Lahore. He stated that Central Business District Project had also been launched at Walton, Lahore.