Lahore: The Central Business District Authority (CBDA) has authorised plans to build a commercial market on the Walton airport property, news sources reported. The authority has devised a plan to begin economic activities in the city worth PKR 60 billion.
The strategy will be created in collaboration with private developers and builders.
According to the sources, the CBDA has sanctioned the development plan of 770,000 sq ft of land. Of the proposed land plan:
• 17% would be used for the development of residential buildings,
• 43% of the land will be used for the commercial centres and buildings
• 40% of the land will be used for mixed activities such as lifestyle, business centres and academies
• 180,000 sq.mt. the land will be used for the construction of road networks
On the other hand, the budget for the current and upcoming fiscal years – worth PKR 2.5 billion -was approved for CBDA. In addition, the Punjab government would offer a loan of PKR 100 million, repayable in two years. The feasibility studies, infrastructure design, and construction supervision would cost a total of PKR 940 million.