{"id":78630,"date":"2021-08-11T16:10:15","date_gmt":"2021-08-11T11:10:15","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=78630"},"modified":"2021-08-11T16:21:23","modified_gmt":"2021-08-11T11:21:23","slug":"lcbdaa-gets-walton-airport-land-99yr-lease","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/lcbdaa-gets-walton-airport-land-99yr-lease.html","title":{"rendered":"LCBDDA gets Walton Airport land on 99yr lease"},"content":{"rendered":"\n<p>Lahore: The Punjab government has approved to give Walton Airport\u2019s land to the Lahore Central Business District Development Authority (LCBDDA) on a 99-year lease, a news source reported on August 7.&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/plan-formalised-walton-airport-land-business.html\" target=\"_blank\" rel=\"noreferrer noopener\">Plan formalised to turn Walton Airport land into a business center<\/a><\/p>\n\n\n\n<p>The authority had formally requested the provincial government to extend the lease period from 30 years to 99 years. Reportedly, the potential bidders of the five commercial plots (that were to be auctioned on August 4) had raised their concerns over the lease period.\u00a0Responding to the requested extension in the lease period, a senior LCBDDA official said that the request was made in order to establish clarity on the lease duration.\u00a0<\/p>\n\n\n\n<p>According to the official, the auction of the commercial plots in the former airport facility was delayed due to travel restrictions imposed in various parts of the country due to Covid-19. Reportedly, the bidder\u2019s consent was sought for delaying the auction. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/business-district-established-walton-airport-land.html\" target=\"_blank\" rel=\"noreferrer noopener\">Business district to be established on Walton Airport land<\/a><\/p>\n\n\n\n<p>The provincial government has allocated 122 acres of Walton Airport land to the LCBDDA for setting up a central business district. According to the authority\u2019s official spokesperson, the LCBDDA and the government are on the same page to encourage an influx in the national exchequer. Shifting the old airport facility from the centre of the city and converting it into a business district will improve the overall investment culture in the country. Such initiatives will help pay our foreign loans, said the spokesperson.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Punjab government has approved to give Walton Airport\u2019s land to the Lahore Central Business District Development Authority (LCBDDA) on a 99-year lease, a news source reported on August 7.&nbsp; Read: Plan formalised to turn Walton Airport land into a business center The authority had formally requested the provincial government to extend the lease period from 30 years to 99 years. Reportedly, the potential bidders of the five commercial plots (that were to be auctioned on August 4) had raised their concerns over the lease period.\u00a0Responding to the requested extension in the lease period, a senior LCBDDA official said that the request was made in order to establish clarity on the lease duration.\u00a0 According to the official, the auction of the commercial plots in the former airport facility was delayed due to travel restrictions imposed in various parts of the country due to Covid-19. Reportedly, the bidder\u2019s consent was sought for delaying the auction. Read: Business district to be established on Walton Airport land The provincial government has allocated 122 acres of Walton Airport land to the LCBDDA for setting up a central business district. According to the authority\u2019s official spokesperson, the LCBDDA and the government are on the&hellip;<\/p>\n","protected":false},"author":84,"featured_media":78669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[47408,45361],"persona":[],"class_list":{"0":"post-78630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-lahore-central-business-district-development-authority-gets-walton-airport-land-on-99yr-lease","9":"tag-pm-officiates-lahore-central-business-district-at-walton-airport-site","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LCBDAA gets Walton Airport land on 99yr lease- Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Punjab government has approved to give Walton Airport\u2019s land to the Lahore Central Business District Development Authority (LCBDDA) on a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/lcbdaa-gets-walton-airport-land-99yr-lease.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LCBDAA gets Walton Airport land on 99yr lease- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Punjab government has approved to give Walton Airport\u2019s land to the Lahore Central Business District Development Authority (LCBDDA) on a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/lcbdaa-gets-walton-airport-land-99yr-lease.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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