LCBDDA auctions five plots for Rs21.6b

Lahore Central Business District Development Authority (LCBDDA) has auctioned five prime commercial plots for Rs21.6 billion to different international and local investment groups.

LCBDDA held a successful grand auction of 5 prime plots for the bidders on Tuesday in an open auction in Lahore. Bidders from national and international leading investment groups and developers participated in the auction process.

Speaking to The Express Tribune, a spokesperson of the authority claimed that ‘Lahore Prime’, a project by LCBDDA also known as Central Business District Punjab (CBD Punjab) amalgamated their resources to build a business community which was never seen before in the country.

Similarly, 11-kanal prime 2 plot was sold at Rs382 million per kanal and ASE Hasnat secured the deal by offering a total of Rs4.20 billion.

Punjab Chief Minister Sardar Usman Buzdar said, “LCBDDA aims to provide to the people with an appropriate ecosystem and infrastructure supporting the livelihood of city dwellers. Undoubtedly, the activities like Lahore Prime contribute to the alleviation of business & economy.”

LCBDDA CEO Imran Amin said, “Lahore Prime will be a sign of inspiration and a class of new beginning in the field of construction".

Team CBD is striving to put every effort for the success of this project and sincerely hopes that it will benefit the brighter future of all the stakeholders.”

Published in The Express Tribune, September 8^th, 2021.