Lahore, The Lahore City authority is going to construct multibillion 28 storey high twin towers and it offers the panoramic view of the city and there will be rooftop restaurant in these towers.
The proposed twin towers in Lahore will be located on Jail Road Lahore and it has high rise and mixed used building and it has estimated cost of Rs.4.25 billion. The project will be completed under the management and transfer of property laws, which are mentioned in Development Authorities Act 2014. The concerned authority invited the expressions of interest (EOI) from the well known and financially sound companies in order to construct the twin towers on the basis of joint venture. The authority has fixed the deadline for the submission of EOIs for project till May 24.
LDA has provided the terms as the equity for the project and the private partner will be responsible to make the design, financing, marketing, construction, sales and management. The constructor of the twin towers will share the profit with the development authority and the management of the facilities will be given through the competitive bidding. EOIs on the particular project have been solicited from the private companies and they leave strong financial position and they are able to bring together the skills and resources, which are necessary to complete the project. It is decided that the open bidding will be conducted between the qualified competitors with the use of two stages and two envelop process.
The concerned authority has provided the pre qualification document on its website and they can get the information from the office of chief officer of LDA. The Director General of LDA also met with the Chinese and Turkish investors and he invited them to invest in the particular project on the direction of chief minister of Punjab. The authority has also decided to rent out the vacant rooftop of LDA Plaza on Egerton Road to set up the restaurant. The LDA secretary and the sponsors have invited the EOIs from local and multinational restaurant chains to set up the outlets on about 8,000 square foot.
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