Central Business District: NLC to start development work

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LAHORE: In a bid to expedite the development work at the Lahore Central Business District (CBD), the National Logistic Cell (NLC) will initiate development work on the site.

In a meeting held between the officials of Lahore Central Business District Development Authority (LCBDDA) and NLC at the project site, CEO, LCBDDA Imran Amin gave a briefing over the scope of development work.

Speaking on the occasion, the CEO was of the view that various investors will be compelled to establish their enterprises in the district along with adopting the model of Real Estate Investment Trust (REIT).

In the pilot phase, the district authority has auctioned five commercial plots for Rs26.5bn which has resulted in the increase of revenues by 120pc than the envisaged value.

 

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