CBD Gets a Nod for Housing Development Project

Housing Development Project

Lahore: The Central Business District (CBD) got the nod from the Punjab government to launch construction activities for numerous high-rise structures in the old Walton Airport site.

The CBA would pitch high-rise structures of more than 70 floors on auctioned areas at Walton Airport and Bab-e-Pakistan, and the administration has already started construction work with the funds received. Due to its strategic situation, the project has gathered PKR 56 billion since its beginning and is likely to surpass PKR 2 trillion in a few years. Also, in a statement published by the state, it was elaborated that the project will play an important factor in developing Lahore as a modern and environment-friendly city, with the project also forming thousands of job possibilities.

It is worth noting that the CBD has auctioned off 12 plots of differing sizes in the CBD downtown district, where developers will construct office spaces, commercial centres, and homes. Besides, the government has begun a PKR 4.2 billion CBD Boulevard update and Kalma Chowk underpass remodelling project to drive traffic in the CBD zone. The project will take six months to finish and can adjust traffic entering and exiting from the Gulberg and Barkat Market.

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