Lahore: According to news reports, Chief Executive Officer (CEO) Imran Amin of the Central Business District Authority (CBDA) stated that civil works on the 28-acre Central Business District (CBD) will begin by the end of August 2021. The authority is now completing the required planning and development documentation, after which it will commence infrastructure development work, which will comprise roads, sewers, parking spaces, walkways, and other civil works.
In addition, on August 4, the CBD will auction 5 plots for the development of high-rise buildings under a 33-year extendable lease. The five plots are available for purchase in the first week of August range in size from 18 Kanal to 10 Kanal.
The CBD’s entire area is believed to be roughly 278 acres, divided into two halves. The Ferozpur Road (beginning from Kalma Chowk-Ferozepur Road to Walton Road’s originating point and some areas of Gulberg) stretches for 122 acres, while the rest 156 acres are within the jurisdiction of Walton Airport and the Bab-e-Pakistan. According to reports, work on the 28 acres of commercial land in the Walton area has begun.
The auctioning of the building, according to the CEO, is aimed to stimulate vertical living in the city and avoid encroachment on green space. According to the source, when completed, the CBD will have 120 business highrises and 40 to 50 vertical dwelling complexes.
The project was inaugurated on February 26 by Prime Minister Imran Khan, who described it as an “out-of-the-box” option for wealth creation and long-term growth.