Lahore: The Lahore Central Business District Development Authority (LCBDDA) has requested that the Punjab government lease the property at Walton Airport for 99 years rather than 30.

On August 4, the authority launched an auction for the lease of five commercial plots, during which several bidders questioned whether the lease was for 30 years (extendable) as stated in the August 3 Board of Revenue (BoR) letter or for 99 years as stated in the bidding materials.

Read More: Auction of land adjacent to Walton airport stayed

The Punjab government, he said, had given 486 acres of the state land (near Muridke) to the Civil Aviation Authority (CA) as compensation of these 122 acres. The allocated land will be treated based on the available revenue record – 52 acres under the ownership of the Civil Aviation Authority (CAA) and 70 acres with the Punjab government.

The Aug 4 auction was delayed after some bidders from Karachi couldn’t participate due to the Covid-19 restrictions. We did this with the permission of the bidders available in the auction meeting,” a senior LCBDDA official said.

Read More: Walton Airport land to transform into commercial center3

“The LCBDDA is aligned with the government vision focusing to encourage more influx towards the national exchequer, similarly, shifting the old Walton Airport from the center of the city. Such efforts will help to change the overall culture of business and investment in the country, setting our right direction to the future where we will be able to pay off our foreign loans,” claimed a spokesperson for the authority in a press release issued on Friday.

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