LAHORE: Lahore Development Authority (LDA) has been unsuccessful to attract investors for the biggest commercial project of the city, Twin Towers, worth billions of rupees.
LDA Chief Engineer Israr Saeed told Express Tribune that it is the second time the authority has invited expression of interest (EoI) from the prospective companies but hasn’t been able to find a suitable candidate. Only one company showed interest in the project which could not meet the criterion, he added.
Saeed said that for now, the authority has changed its initial plan to attract more investors and is aiming that the project would be built on a private-public partnership model.
LDA would participate in the project as the landowner and regulator, and the joint-partner will be expected to do take the lead role in designing, constructing, financing and marketing of the project, he added.
LDA Director General Zahid Akhter Zaman said the estimated cost of the project would be around Rs 8.1 billion.
