Lahore: Central Business District Development Authority (CBDA) Chief Executive Officer (CEO) Imran Amin said that the civil works on the 28 acres of Central Business District (CBD) will start by the end of August 2021, news sources reported. The required planning and development paperwork is currently being completed, following which, the authority will begin infrastructure development work that will include roads, sewers, parking places, walkways, and other civil construction.
Moreover, the CBD will also auction 5 plots for the construction of high rise buildings on August 4 – under a 33-year extendable lease. The five plots up for sale in the first week of August have a maximum size of 18 Kanal and a minimum size of 10 Kanal.
The total area of the CBD is estimated to be around 278 acres, which is divided into two parts. Out of total land, 122 acres lie along the Ferozpur Road (starting from Kalma Chowk-Ferozepur Road to Walton Road’s originating point and some parts of Gulberg), while the remaining 156-acre land is under the jurisdiction of Walton Airport and the Bab-e-Pakistan. Reportedly, the construction is now underway on the 28 acres of commercial land in the Walton area.
During a project briefing, the chief stated that the auctioning of the building is intended to encourage vertical living in the city and avoid encroachment on green space. As per the source, the CBD will feature 120 commercial highrises and 40 to 50 vertical apartment complexes for its residential phases when completed.
Prime Minister Imran Khan launched the project on February 26, calling it an “out-of-the-box” solution for wealth generation and the promotion of sustainable growth.