The United Arab Emirates (UAE) has in principle agreed to construct the country’s first state-of-the-art skyscraper in Lahore besides investing a total of Rs 60 billion in Punjab’s construction industry.

The announcement was made by UAE Minister for Culture, Youth and Social Development Sheikh Nahyan Bin Mubarak during his one-on-one meeting with Punjab Chief Minister Usman Buzdar in Dubai recently.

According to a spokesperson for the CM, Sheikh Nahyan Bin Mubarak accorded a warm reception to Chief Minister Usman Buzdar and announced to make the mega investment of Rs 60 billion in Punjab’s construction sector, including construction of the country’s first state-of-the-art skyscraper in Lahore which would be called ‘Mubarak Centre’.

The spokesperson said that Dhabi Group would construct the Mubarak Centre under the auspices of TAAVUN Pvt Ltd. The project is expected to be built on the bank of River Ravi, he said, adding that the government would provide all possible cooperation with regards to the construction.

“It would provide (luxurious) accommodations to international cricket teams and it would prove a game changer in real terms,” he added.

He said that CM Usman Buzdar believes that Dhabi Group would utilize its utmost professional abilities in order to complete this historical mega project. He said that new special economic zones (SEZs) were being constructed across the province.

The spokesperson further said that the Central Business District Project has also been launched at Walton while “CM Facilitation Centre” was already working to provide facilitation to foreign investors.

This report was first published in Business Recorder on February 21, 2022.