LDA auction: Reserve prices revealed for parking plaza shops
Reserve price for 106sq feet shop on ground floor is Rs4.7mn, for 325sq feet shop on upper ground floor is Rs19.5mn.
LDA announces reserve prices for 15 shops at the Park and Ride Plaza at Moon Market, Iqbal Town to be auctioned on December 16. PHOTO: FILE
LAHORE:
The Lahore Development Authority (LDA) on Thursday announced the reserve prices for 15 shops at the Park and Ride Plaza at Moon Market, Iqbal Town to be auctioned on December 16.
Estate Management Assistant Director Ali Moeen said the bidding would take place at the LDA’s office in Muslim Town.
He said the authority was expecting a good number of buyers.
“The directorate has carefully assessed the prices…they are not high,” he said.
The reserve price for a 106 square feet shop on the ground floor is Rs4.7 million. The 325 square feet shop on the upper ground floor has a reserve price of Rs19.5 million.
Ten shops are located on the lower ground floor and five on the upper.
Abdul Jabbar Hanif, the Moon Market Traders’ Union leader, said the reserve prices were too high. “Most shop owners at Moon Market cannot afford them…high-end brands might participate in the auction,” he said.
He said the LDA should reassess the reserve prices.
Construction of the 11-storey Park and Ride Plaza at Moon Market began in April 2012. The plaza has nine floors reserved for car parking that can accommodate 400 cars and 500 motorcycles.
Estate Management Assistant Director Ali Moeen told The Express Tribune that directorate could reassess the reserve prices of the shops if the auction failed to attract customers.
Published in The Express Tribune, December 13th, 2013.
The Lahore Development Authority (LDA) on Thursday announced the reserve prices for 15 shops at the Park and Ride Plaza at Moon Market, Iqbal Town to be auctioned on December 16.
Estate Management Assistant Director Ali Moeen said the bidding would take place at the LDA’s office in Muslim Town.
He said the authority was expecting a good number of buyers.
“The directorate has carefully assessed the prices…they are not high,” he said.
The reserve price for a 106 square feet shop on the ground floor is Rs4.7 million. The 325 square feet shop on the upper ground floor has a reserve price of Rs19.5 million.
Ten shops are located on the lower ground floor and five on the upper.
Abdul Jabbar Hanif, the Moon Market Traders’ Union leader, said the reserve prices were too high. “Most shop owners at Moon Market cannot afford them…high-end brands might participate in the auction,” he said.
He said the LDA should reassess the reserve prices.
Construction of the 11-storey Park and Ride Plaza at Moon Market began in April 2012. The plaza has nine floors reserved for car parking that can accommodate 400 cars and 500 motorcycles.
Estate Management Assistant Director Ali Moeen told The Express Tribune that directorate could reassess the reserve prices of the shops if the auction failed to attract customers.
Published in The Express Tribune, December 13th, 2013.