A consortium of 13 companies—Javdaan Group has given the highest bid of the Ravi River Development Project Phase-I on Friday.

According to 24NewsHD TV Channel, the Arif Habib group has 51 percent shares in the Javdaan Group and the other 12 companies have around 4 percent shares each.

In the bid, two other companies including Bahria Town and Metracon Construction Pakistan participated by the consortium succeeded on technical grounds.

Younis Group, Lucky Cement Limited, Soorty Group, Liberty Group, Fatima Fertilizers Group, Ghani Glass, US April Group, Sapphire Group, and Orient Group were included in the Javdaan Corporation Limited group.

There was a total market capital value of Rs1,000 billion of the Javdaan Group in the public sector.

The first phase of the mega-development project of River Ravi covers an area of ​​2,000 acres. And all three participants of the Phase-I bidding were passed through a pre-qualification process.

Ravi Riverfront Urban Development Project (RRUDP) is an approved urban development mega project in Lahore District, Punjab, Pakistan that runs along the Ravi River in a northeast to southwest direction.

It includes the construction of a 40,000 hectare (100,000-acre) planned city and the rehabilitation of the Ravi River into a perennial freshwater body.

The project is to be completed in three phases. It is expected to be the largest riverfront of the world when finished.

The project was inaugurated on 7 August 2020 by the Prime Minister of Pakistan Imran Khan, and construction began in December 2020. As of January 2021, it had attracted US$8 billion in foreign investment.

The project was designed by the Singapore based architectural firm Meinhardt Group.