The Government of Punjab has been successful in garnering the interest of foreign investors at Dubai Expo 2020 by showing the investment potential of Punjab in tourism, technology, and sustainable urban development.
At the Expo, Lahore Central Business District Development Authority (LCBDDA) also known as Central Business District Punjab (CBD Punjab) showcased its various projects at Pakistan Pavilion.
Inaugurated in October this year, Dubai Expo 2020 is offering countries a host of opportunities to present to the global audience their true potentials.
In this ongoing month, Pakistan Pavilion remained a hosting ground for multiple seminars and events that presented to the world the true potential of the CBD Punjab for potential foreign investors.
Punjab International Business Conference organized in Dubai International Financial City primarily remained focused on Punjab’s economic potential and the plethora of investment opportunities it has in store for the world. The interest shown by the audience in the said conference speaks volumes of Punjab’s promising economic future.
Minister for Industry and Commerce, Mian Aslam Iqbal, Minister for Higher Education Department and IT, Raja Yasir Humayun, Finance Minister Punjab, Hashim Jawan Bakht, Advisor to Chief Minister on Tourism, Asif Mehmood, and CEO CBD, Imran Amin, were among the attendants at the conference.
CBD Punjab is a government’s flagship real estate project which is promoting smart, clean and green, self-sustaining housing and business activities across the country. It is an eco-friendly, urban regeneration project based on vertical principles. Through smart infrastructure and walkable urbanism, CBD Punjab would enhance the characteristics of a city and will play a pivotal role in economic growth by attracting people looking for business and jobs opportunities.
The CBD Punjab provides extraordinary business opportunities while offering effective, living, working and playing spaces with high-quality modern urban design. With vertical building construction, both the CBD and Ravi City projects would fulfill the dire need for accommodation of the exponentially growing city while also controlling the unplanned growth of the humongous yet populous city Lahore.
It is a fact that cities play an immensely important role in the economy where people, especially smart thinkers, aspire to develop. Pakistan’s urban population makes 37% of the total population whose contribution is over 60% to the country’s gross domestic product (GDP). With the increase in economic growth, this contribution is likely to increase manifold.
Urban groups carry new opportunities in the presence of business hubs, central business districts, and commercial facilities. Being an area with high economic activity, CBD Punjab provides a sustainable ecosystem and infrastructure with the potential to extend huge earning prospects to the public.
Being an engine of economic growth for the province, it offers state-of-the-art business-friendly infrastructure and world-class investment opportunities. At 165% more than the reserve price, an 8-acre plot of this project has already been sold at a whopping price of Rs. 22 billion which shows how lucrative an investment opportunity it is. Besides an additional revenue of Rs. 450 billion for the government, the CBD Punjab is estimated to generate economic activity of Rs. 1,000-1,500 billion.
At the Punjab International Business Conference, CEO CBD Punjab, Imran Amin, briefed the audience on CBD’s immense economic potential and the steps being taken by the incumbent government for ensuring sustainable growth and attracting heavy foreign investments. He also signed two MoUs with multinational organizations.
Chief Business Officer Jazz, Ali Naseer, signed the MoU with CBD Punjab CEO, Amir Amin. CBD Punjab and VEON group’s subsidiary, Jazz partnered to attain IoT and Digital ICT infrastructure that will help city automation, cloud hosting, smart city context, data centers, and much more.
Smart City initiatives are enabled by the new Internet of Things (IoT) applications globally.
With its enormous potential, IoT enables remote monitoring, managing, and controlling devices. This application will offer various opportunities to CBD to make the most of data in managing traffic, cutting on pollution, making efficient use of infrastructure, and keeping the environment clean and safe.
At the conference, CBD Punjab also partnered with Malaysian Green Tech and Climate Change Center (MGTC). Chief Operating Officer MGTC, Syed Ahmed Syed Mustafa, signed the MoU with CBD Punjab CEO. In line with Prime Minister Imran Khan’s broader vision of sustainable and eco-friendly development, Malaysian Green Tech will provide assistance and guidance to CBD Punjab for creating a sustainable living and workspace as per the signed agreement. A space that curtails environmental impacts and integrates eco-friendly components for creating a harmonizing experience for all and sundry.