Lahore Central Business Development Authority (LCBDDA), also known as Central Business District Punjab CBD, has achieved another milestone by their successful Pakistan’s first auctioning of a planned Downtown; The Downtown Lahore. LCBDDA has one motive, and it is to make sure that Pakistan is urbanized, civilized, and growing in all capacities. It is for this reason that they took this initiative, and were successful in it.
Downtown Lahore had a mixed ratio of 7 plots in the Gulberg, Main Boulevard area, which consisted of plots ranging from 12 to 14 Kanals of land. On this occasion, CEO LCBDDA Imran Amin said: “We have witnessed an overwhelming and far better response than Lahore Prime for Lahore Downtown, which is a bright sign that CBD Punjab is delivering what we have promised. Lahore Downtown will be a sign of inspiration and a class of new beginning in the field of construction and real estate. Team CBD is striving to put every effort for the success of this project and hoped that it will benefit the brighter future of all the stakeholders This is not only a land auction, we are setting up history. Lahore Downtown is a stepping stone for our future generations to witness economical stable welfare state. Lahore Downtown is a pledge of CBD Punjab to work immensely for the betterment of the country. CBD Punjab has become a pivot of attention of world economic giants. Lahore Downtown will change the canvas of Lahore. Soon we will see a better and broader change in the skyline of Lahore.”
In this ceremony – Lahore Downtown One was sold to Pothar Developers for Rs 6.5 billion, Downtown Two was sold to Nova Group for Rs 5.1 billion, Downtown Three was sold to Onyx Developers for 4.08 billion, Downtown Four was sold to Kingdom Valley for 3.6 billion, Downtown 5 was also sold to Kingdom Valley for Rs 4.2 billion, Downtown 6 was sold to Grand Arc Builders for Rs 5.28 billion and Downtown 7 was sold to ASC Constructors.
This initiative by authorities in Lahore is one that needs to be appreciated because it will not only boost and support the economy of Pakistan but will also aware and inspire people to follow in these footsteps and create further such opportunities. This is a big step, which will create Pakistan’s positive image in the international arena, and will show them that Pakistan is doing everything it can to develop from a developing to a developed nation.