The history of Sapphire Bay Lahore is linked to the history of the Ravi Riverfront Urban Development Project, which is a vision of Prime Minister Imran Khan to develop a new city on the banks of the Ravi River to address the problems of Lahore. The project was announced in 2013, but faced delays and challenges due to lack of funds, land acquisition issues and environmental concerns. In 2020, the project was revived and the Ravi Urban Development Authority (RUDA) was established to oversee its implementation.

The first phase of the project, named Sapphire Bay, covers 2,000 acres of land and was awarded to a consortium of more than 10 firms led by Arif Habib Group in May 2021, after a competitive bidding process. The Sapphire Bay will be a modern and sustainable city that will offer residential and commercial options, as well as amenities such as water treatment plants, waste management systems and renewable energy resources. The project is expected to generate revenue and employment opportunities for the people of Lahore and Pakistan, as well as reinvigorate the Ravi River and its ecosystem. Another project of RUDA is Chahar Bagh Lahore.

Sapphire Bay Lahore is the name of the first phase of the Ravi City project, which is a mega riverfront urban development project located on the banks of the Ravi River. Some possible benefits of Sapphire Bay Lahore are:

- It will be a modern and sustainable city that will use renewable energy resources, water conservation techniques, waste management systems and smart technologies.
- It will offer a variety of residential and commercial options, such as villas, apartments, skyscrapers, condominiums, shopping malls, hotels, hospitals and schools.
- It will generate revenue and employment opportunities for the people of Lahore and Pakistan, attracting local and foreign investors and developers.
- It will be part of the larger Ravi City Lahore project, which aims to reinvigorate the Ravi River and cater to the major concerns of overpopulation, traffic congestion, heavy pollution, water scarcity and flooding in Lahore.