Lahore: According to published reports, the Central Business District Authority (CBDA) has approved plans to create a commercial market on the Walton airport property. The authorities have created a plan to start PKR 60 billion worth of economic operations in the city.

The approach will be developed with the help of private developers and builders.

Read More: Land approved for new Faisalabad airport: CM Buzdar

According to sources, the CBDA has approved a 770,000 sq ft land development plan.

• 17 percent of the suggested land plan would be used for residential development

• 43 percent of the land would be used for commercial centers and buildings

• Mixed activities such as lifestyle, business centers, and academies will occupy 40% of the site

• A total of 180,000 square meters of land will be used to build road networks

Read More: CAA drops idea to use old Islamabad airport for tourist flights

CBDA, on the other hand, has received approval for its budget for the current and forthcoming fiscal years, which totals PKR 2.5 billion. In addition, the Punjab government will provide a PKR 100 million loan with a two-year repayment period. A total of PKR 940 million would be spent on feasibility studies, infrastructure design, and construction supervision.

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