| Lahore: Punjab Central Business District Development Authority (PCBDDA) Chief Executive Officer (CEO) Imran Naeem stated that the authority can create revenue worth trillions by utilising the potential of state-owned land, according to news published on March 16.
Read: CM reviews progress on CBD, Samanabad Underpass projects
Naeem claimed that with the support of the government and private sectors to the PCBDDA, the authority can generate PKR 4 trillion with the utilisation of the state-owned land, including that owned by the Punjab Cooperative Board for Liquidation across the province.
The CEO mentioned that the authority can present a viable plan for the use of this land for highrises, shopping malls, residential areas and other residential, commercial, agricultural and industrial projects. He mentioned that PCBDDA’s Lahore chapter alone can generate PKR 1 trillion through state-owned land in Walton and Gulberg. It was also highlighted that PCBDA has initiated development work with funds worth PKR 56 billion generated through the auction of state-owned plots.
Read: PCBDDA showcases CBD’s projects in roadshow
The PCBDA CEO also shared details on the ongoing development work in Lahore; 2 underpasses at Kalma Chowk, remodelling of the Gulberg Main Boulevard, upgradation of the underground sewerage/drainage system, and construction of the CBD main boulevard, parking plaza, walkways, etc.
The chief iterated that the CBD-Lahore would be the country’s first super high-rise infrastructure that will create employment and generate revenue. |
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