RUDA Sapphire Bay Zone 3
A mega consortium of more than 10 firms led by a known group of companies has succeeded in getting development rights of the phase-1 (Ravi City Sapphire Bay) of the country’s first mega riverfront development venture in Lahore — Ravi Riverfront Urban Development Project worth billions of dollars.
“We have completed the bidding process for awarding/granting rights of developing the phase-1 (2,000 acres / Sapphire Bay Ravi City Lahore) of the project. The formal announcement about the successful bidder will be made on Monday or Tuesday (May 31 or June 1),” RUDA’s Chief Executive Officer Imran Ameen
According to RUDA chief, as many as eight groups / companies were pre-qualified for submitting their technical bids for the project. Of eight, he said, four qualified technically, and they were asked to submit their bids. Out of four, three—including one (Javedan consortium) owned by Arif Habib Group of Companies—submitted bids.
“Of the three, Javedan’s financial bid was more than the other bidders—Bahria Town and Metracon,” Ameen added.

Sapphire Bay Location Map


RUDA Sapphire Bay Zone 3 – A Landmark Project in Lahore
RUDA Sapphire Bay Zone 3 is an iconic residential and commercial development by the Ravi Urban Development Authority (RUDA), located along the scenic bank of the Ravi River in Lahore. This mega project is designed to integrate modern urban living with ecological sustainability—a first of its kind in Pakistan.
Developer & Consortium
The project was awarded to Javedan Corporation, part of the Arif Habib Group, in 2021 through a successful bid of Rs. 10.75 billion under a REIT (Real Estate Investment Trust) structure.
- RUDA has granted development and marketing rights to Javedan Corporation.
- In return, the consortium will allocate 15% of residential and commercial developed sites back to RUDA.
This structure ensures transparency and long-term collaboration between the developer and the government authority.
Land Use & Planning
RUDA Sapphire Bay covers 5,000 acres, carefully divided to balance urbanization with flood protection:
- 3,000 acres reserved for flood protection and ecological safeguards
- 2,000 acres dedicated to residential and commercial development
This unique allocation demonstrates RUDA’s commitment to sustainability and climate resilience.
Sapphire Bay Islamic Development REIT
The project operates under the Sapphire Bay Islamic Development REIT, a PKR 142 billion landmark initiative modeled after the successful Dolmen City REIT.
- Fund Size: PKR 25 Billion
- Indicative IRR (Internal Rate of Return): 45%
- Maturity Period: 10 years
- Listing: Filed for trading on the Pakistan Stock Exchange (PSX)
This REIT structure makes Sapphire Bay one of the most secure and regulated investment opportunities in Pakistan’s real estate sector.
Consortium of Leading Business Groups
The REIT is backed by some of Pakistan’s most influential business groups, including:
- Javedan Corp (Arif Habib Group of Companies)
- Fatima Fertilizer (Mr. Fawad Ahmed Mukhtar)
- Ejaz Spinning Mills (Mr. Gohar Ejaz)
- JW SEZ (Mr. Javed Afridi & Shah Faisal)
- Ghani Group (Hafiz Avais Ghani)
- Stylers Int (Mr. Javed Arshad Bhatti)
- Soorty Group (Mr. Shahid Soorty)
- Master Textile Mills (Mr. Najeeb Malik)
- Din Group (Shaikh Mohammad Jawed)
- Liberty Mill (Mr. Taimoor Mukaty)
Such powerful institutional backing reflects investor confidence and project credibility.
Economic Impact
- Expected Revenue: Over PKR 100 Billion
- Job Creation: Thousands of direct and indirect employment opportunities
- Flood Resilience: A massive 3,000-acre flood buffer zone will safeguard Lahore’s future growth
- Modern Infrastructure: Premium residential living, commercial hubs, and eco-friendly development
Investment Potential
Sapphire Bay offers a strategic mix of high returns and sustainability. With its transparent REIT model, PSX listing, and support from leading business families, the project provides secure investment avenues for both institutional and individual investors.
Key Strengths
- Backed by Arif Habib Group and top industrialists
- Transparent REIT framework ensuring accountability
- Located within RUDA’s Lahore expansion masterplan
- Strong government alignment ensuring infrastructure development
Risks to Monitor
- Possible delays in RUDA approvals and masterplan execution
- Liquidity factors tied to PSX REIT trading
- Large-scale infrastructure requirements may impact timelines
Conclusion
RUDA Sapphire Bay Zone 3 is more than just a real estate project—it is a transformational urban development for Lahore. Combining modern housing, commercial opportunities, ecological safeguards, and transparent investment mechanisms, it promises to become a landmark project in Pakistan’s real estate sector.
For investors, this is not just an opportunity to buy land—it is a chance to be part of Lahore’s future growth corridor.
RUDA Sapphire Bay Ravi City Latest Development Update


















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Ravi River City Sapphire Bay Files Rate 25 August 2025
7 Marla file including development charges 17 lacs
15 Marla file including development charges 37 lacs
1 Kannal file excluding development charges 40 lacs
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Ravi River City Sapphire Bay Files Rate 17 Dec, 2022
7 Marla file including development charges 25 lacs
15 Marla file including development charges 35 lacs
1 Kannal file excluding development charges 50 lacs
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Ravi River City Sapphire Bay Files Rate 11 Oct, 2022
7 Marla file including development charges 25 lacs
15 Marla file including development charges 38 lacs
1 Kannal file excluding development charges 50 lacs
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Ravi River City Sapphire Bay Files Rate 16 May, 2022
7 Marla file including development charges 28 lacs
15 Marla file including development charges 40 lacs
1 Kannal file excluding development charges 50 lacs
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For Sapphire Bay Fles revious dates Rate please visit following link:
Ravi Riverfront City Sapphire Bay Files Rate