PROJECT: Sheikh Zayed Business / Shopping Complex
LOCATION: Ferozepur Road, Lahore
COST: $250 Million (Rs 15bn)
AREA: 91 Kanals
JOBS: 30 Thousand People
INVESTORS: Dhabi Group UAE
CONSTRUCTION START: May 2005
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CM directive to construct SZ Complex
By Our Staff Reporter
LAHORE - Punjab Chief Minister, Ch. Pervaiz Elahi, has directed the concerned officials to implement the project of construction of a big commercial center, Sheikh Zayed Complex, over an area of about 91 Kanals at Ferozpur Road Lahore.
Chief Minister passed the instructions while presiding over a high-level meeting here on Monday.
The foundation stone of the project will be laid in May this year, after which construction activities would immediately be started.
An agreement between the Punjab Government and Dhabi Group and Associates of UAE is expected to be signed shortly after which a company will be formed in the name of Taawan. The Punjab government and Dhabi Group will have representation in the board of directors of the company, which will give a practical shape to the project. The chief minister said that the project would play an important role in the promotion of trade and recreational activities in the city besides creating 30,000 direct and indirect job opportunities.
Elahi okays Shaikh Zayed Commercial Centre
* Centre will be built on Ferozepur Road, cost Rs 15 billion
* Groundbreaking for Pakistan’s tallest building in May
Staff Report
LAHORE: Punjab Chief Minister Chaudhry Pervaiz Elahi has approved the construction of a commercial centre, Shaikh Zayed Complex, on Ferozepur Road. The centre, consisting of a basement and three towers, will house a shopping mall, hotels, corporate offices and mini cinemas. Its construction will start next month.
The DHABI Group of United Arab Emirates will construct the tallest building in Pakistan over an area of 91 kanals at a cost of Rs 15 billion.
Chairing a meeting on Monday, the chief minister said that the centre would promote trade and recreational activities in the provincial metropolis and generate around 30,000 jobs.
The meeting was informed that the centre’s banquet hall would have a seating capacity of around 5,000 and its four parking basements would have space for around 4,000 vehicles.
The chief minister said that the Punjab government and the DHABI Group would soon sign an agreement to form a company, named Taawan, to execute the project. He said that the company would have directors both from the Punjab government and the DHABI Group.
Elahi said that Shaikh Zayed Complex would play an important role in generating economic activity in the province and would improve the living standard of the people.
Bashir Tahir, the DHABI Group chief executive, Kamran Rasool, the Punjab chief secretary, Salman Siddique, finance secretary, Sibtain Fazal Haleem, communication and works secretary, and Pervaiz A Shahid, the Bank Alflah executive incharge, attended the meeting.
Tahir said that his group was launching several projects in telecommunication, banking and other industries in Pakistan. He said that Shaikh Zayed Complex would give an impetus to trade and business activities.
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