LAHORE (WEB DESK)
Caretaker Provincial Minister for Housing Urban Development and Public Health Engineering Punjab, Barrister Syed Azfar Ali Nasir visited the Central Business District Punjab (CBD Punjab), in Lahore to witness the ongoing sustainable development projects. Punjab Central Business District Development Authority (PCBDDA) also known as Central Business District Punjab (CBD Punjab), is tasked to establish Pakistan’s first business district and register the country on the global economic map.
CEO CBD Punjab, Imran Amin, COO CBD Punjab, Brigadier (R) Mansoor Janjua, Chairman CBD Punjab, Mr. Fazeel Asif Jah, Executive Director Commercial, Mohammed Omer, Executive Director Legal CBD Punjab, Barrister Bilal Afzal Khokhar, Director Marketing CBD Punjab, Wasim Siddiq and other officials of CBD Punjab were present during the briefing session
During the visit, the minister was briefed by the Executive Director Commercial CBD Punjab, Mohammed Omer, about the revenue generation strategies of CBD Punjab. The district funds, builds, and sustains itself without relying on government funding or tax money. The revenue is generated through open auctions, investor networking, public/private partnerships, joint ventures, and government-to-government initiatives.
CBD Punjab is a premium authority with the concept of one-window operation, favorable bylaws, fast approvals, unmatched speed-to-market, investor-friendly ease of doing business and is a center of revenue-generating for the government of Punjab. The authority offers centralized and vertical infrastructure with increased building height limits of up to 750 ft.
CBD Punjab’s CEO, Imran Amin, said, “We are pleased to have the opportunity to brief Caretaker Provincial Minister Housing Urban Development and Public Health Engineering, Barrister Syed Azfar Ali Nasir, on our ongoing initiatives to establish Pakistan’s first business district. At CBD Punjab, we are committed to sustainable development, and we believe that our initiatives will help register Pakistan on the global economic map.”
While briefing about the revenue generation activities the Caretaker Provincial Minister was informed that CBD Punjab, did its first auction in September 2021 where the authority sold five mixed-use commercial plots for an area marked as Lahore Prime and the second auction for Lahore’s first planned central Downtown was conducted in September 2022, authority sold seven mixed-use commercial plots. CBD Punjab has over 100 plus plots situated in the heart of Lahore with an estimated potential of PKR 500+ billion.
CBD Punjab is currently undertaking several ongoing projects, including the remodeling of the main boulevard from Liberty to Kalma Chowk CBD Punjab Boulevard, planning of Lahore Grand Souk (1122 Site), Infrastructure development of phase I, Car Parking Plaza, and remodeling of Walton Road. The remodeling of the Kalma Chowk underpass project is almost complete with no PC1 revision and soon will be fully functional for traffic
Caretaker Provincial Minister Housing Urban Development and Public Health Engineering, Barrister Syed Azfar Ali Nasir, was impressed with the progress of CBD Punjab and the ongoing initiatives that will transform Lahore’s economic landscape. He expressed his appreciation for CBD Punjab’s commitment to sustainable development and revenue generation for the government, stating that the project would pave the way for Pakistan’s economic growth.
CBD Punjab is also constructing the CBD Quaid district flyover, connecting the main boulevard to Walton Road and Bab-e-Pakistan. Other ongoing projects are Sirius Tallest Skyscraper of Punjab, Regalia Branded Residencies, Node Digital District, Runway Retail District, and Sano Medical District.
CBD Punjab is determined to establish Pakistan’s first business district and put the country on the global economic map. The ongoing sustainable development projects of CBD Punjab are a testament to the authority’s commitment to this goal.