Officials claimed a Riyadh-based engineering and construction firm has inked an investment deal with a Pakistani corporate group for a $12 billion real estate project in the eastern city of Lahore.
On Sunday, a Memorandum of Understanding (MOU) was signed in Karachi between Sarh Attqnia Company (SAC) and the Pakistani party Javedan Corporation for the construction and development of the first phase of the upcoming ‘Ravi City’ project, which will be built on 2,000 acres of land along the banks of the historic river Ravi.
The agreement follows the recent Riyadh investment conference, which took place during Pakistani Prime Minister Imran Khan’s three-day visit to Saudi Arabia last month.
