{"id":79485,"date":"2021-09-08T12:21:55","date_gmt":"2021-09-08T07:21:55","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=79485"},"modified":"2021-09-21T14:53:48","modified_gmt":"2021-09-21T09:53:48","slug":"lcbdda-auction-5-plots-bags-21-bn-revenue","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/lcbdda-auction-5-plots-bags-21-bn-revenue.html","title":{"rendered":"LCBDDA auctions off 5 plots in &#8216;Lahore Prime&#8217; project for 21 billion"},"content":{"rendered":"\n<p>Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off<a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/lcbdda-auction-five-plots-in-gulberg.html\" data-type=\"post\" data-id=\"78976\" target=\"_blank\"> 5 plots during a bidding process<\/a>, news sources reported. The authority received a total of PKR 21.5 billion from the auction of plots.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/lcbda-held-a-pre-bid-interactive-session-for-the-lahore-prime-project.html\" target=\"_blank\" rel=\"noreferrer noopener\">LCBDA holds pre-bid session for \u201cLahore Prime\u201d project<\/a><\/p>\n\n\n\n<p>As per the details shared, the highest bid of PKR 7.623 billion was floated for an 18 kanal plot. A total of four companies participated in the auction including a Turkish real rate agency. Punjab Chief Minister (CM) Usman Buzdar expressed his delight at the successful proceedings and stated that it is a step in the right direction.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The said project is named \u201cLahore Prime\u201d and includes commercial plots located on Walton Airport\u2019s site, which is leased for 99-years with the aim of <a href=\"https:\/\/www.zameen.com\/news\/plan-formalised-walton-airport-land-business.html\" data-type=\"post\" data-id=\"77155\" target=\"_blank\" rel=\"noreferrer noopener\">developing a modern urban centre amid Lahore<\/a>.&nbsp; A detail of the auctioned off plot is mentioned here:&nbsp;<\/p>\n\n\n\n<p>The authorities auctioned Prime-1 plot (18-kanal) for PKR 7.623 billion after obtaining the highest offer from a joint venture of Nova City Developers and Bayraktar Insaat. The Prime-2 plot (11-kanal) was auctioned for PKR 4.202 billion after ASE-Hasnat offered the highest price. M Abbas Khan offered PKR 2.840 billion for a Prime-3 plot (10-kanal). The remaining two plots \u2013 Prime-4 and Prime-5, measuring 10 kanal each \u2013 were auctioned for PKR 4.069 billion and PKR 2.845 billion respectively, after the Pakistan Corporate Consortium bid the highest amount.&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/development-start-central-business-district.html\" target=\"_blank\" rel=\"noreferrer noopener\">Development work to be launched soon in Central Business District of Lahore<\/a><\/p>\n\n\n\n<p>Reportedly, the per kanal reserve\/base auction price for Prime-1, 2, 3, 4 and 5 plots was fixed at the following rates; PKR 160 million, PKR 160 million, PKR 140 million, PKR 160 million and PKR 140 million respectively.<\/p>\n\n\n\n<p>The said 5 plots are situated at a prime location of Kalma Chowk, Ferozpur Road and Gulberg Main Boulevard. The auction was initially scheduled for August 4, 2021, but it was postponed because of the escalating pandemic situation and investors\u2019 concerns over the lease duration. However, in order to facilitate bidding and make the project more appealing to investors, the government extended the<a href=\"https:\/\/www.zameen.com\/news\/lcbdaa-gets-walton-airport-land-99yr-lease.html\" data-type=\"post\" data-id=\"78630\" target=\"_blank\" rel=\"noreferrer noopener\"> lease of the plots from 30 to 99 years<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off 5 plots during a bidding process, news sources reported. The authority received a total of PKR 21.5 billion from the auction of plots.\u00a0 Read: LCBDA holds pre-bid session for \u201cLahore Prime\u201d project As per the details shared, the highest bid of PKR 7.623 billion was floated for an 18 kanal plot. A total of four companies participated in the auction including a Turkish real rate agency. Punjab Chief Minister (CM) Usman Buzdar expressed his delight at the successful proceedings and stated that it is a step in the right direction.&nbsp;&nbsp; The said project is named \u201cLahore Prime\u201d and includes commercial plots located on Walton Airport\u2019s site, which is leased for 99-years with the aim of developing a modern urban centre amid Lahore.&nbsp; A detail of the auctioned off plot is mentioned here:&nbsp; The authorities auctioned Prime-1 plot (18-kanal) for PKR 7.623 billion after obtaining the highest offer from a joint venture of Nova City Developers and Bayraktar Insaat. The Prime-2 plot (11-kanal) was auctioned for PKR 4.202 billion after ASE-Hasnat offered the highest price. M Abbas Khan offered PKR 2.840 billion for a Prime-3 plot&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":[48031,47966,48030,48028],"persona":[],"class_list":{"0":"post-79485","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-commercial-plots-auction-central-business-district","9":"tag-lahore-prime","10":"tag-lcbdda","11":"tag-lcbdda-auction-off-5-plots","12":"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>LCBDDA auctions off 5 plots in &#039;Lahore Prime&#039; project for 21 billion - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off 5 plots during a bidding process, news\" \/>\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\/lcbdda-auction-5-plots-bags-21-bn-revenue.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LCBDDA auctions off 5 plots in &#039;Lahore Prime&#039; project for 21 billion - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off 5 plots during a bidding process, news\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/lcbdda-auction-5-plots-bags-21-bn-revenue.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-08T07:21:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-21T09:53:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/08\/LCBDDA-1170x4002-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nauman Ahmad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nauman Ahmad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"LCBDDA auctions off 5 plots in 'Lahore Prime' project for 21 billion - Zameen News","description":"Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off 5 plots during a bidding process, news","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/lcbdda-auction-5-plots-bags-21-bn-revenue.html","og_locale":"en_US","og_type":"article","og_title":"LCBDDA auctions off 5 plots in 'Lahore Prime' project for 21 billion - Zameen News","og_description":"Lahore: The Lahore Central Business District Development Authority (LCBDDA) on Tuesday (September 7) auctioned off 5 plots during a bidding process, news","og_url":"https:\/\/www.zameen.com\/news\/lcbdda-auction-5-plots-bags-21-bn-revenue.html","og_site_name":"Pakistan Real Estate News &amp; 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