Lahore: The Punjab Central Business District Development Authority (PCBDDA) has started the construction work on the residential and commercial high-rise buildings in Lahore Downtown (Walton Airport) and Bab-e-Pakistan on the directives of Punjab government, according to news published in national dailies on November 21.
The news source mentioned that the PCBDDA expects to generate investments worth billions of rupees and provide employments to thousands of people. The aim of this project is to take Lahore into the ranks of cities in the developed parts of world. Under these projects, high-rise buildings will be constructed to provide all residential, commercial, and healthcare facilities in the same place.
As per the details, so far, PKR 56 billion has been invested in the projects and the figure is expected to rise to PKR 2 trillion in the coming years. The Punjab government has established an authority besides Lahore Development Authority (LDA) and Metropolitan Corporation to utilise the vacant residential and commercial land in Walton Airport and Bab-e-Pakistan areas for setting up a business hub.
As per the details, 295 acres of land has been handed over to the authority for creating a properly planned business hub in into two phases. It is pertinent to note that the Walton Airport area has been renamed ‘Lahore Downtown’. In the first phase, the authority auctioned 12 commercial plots, through which PKR 56 billion was raised.
It was mentioned that the high-rise buildings featuring 70-storeys and more will be constructed on the auctioned plots. The PCBDDA has started the development work with the funds raised. Initially, the construction of an 8-storey plaza has been initiated with parking capacity for 25,000 vehicles.
Apart from this, work on the remodelling of Kalma Chowk Underpass has also been started in a bid to decrease traffic load on all the roads leading to the business hub. According to the details, the central point of the route will be made signal-free. The National Logistics Cell (NLC) has been directed to complete the project within six months.\
According to sources, an aeronautical study has been conducted to ensure all safety protocols were followed in the construction of the high-rise buildings. The business zone will feature residential facilities, hotels, restaurants, stores, modern offices, hospitals, parking, IT, mosques, and all other necessities.
Moreover, the PCBDDA will construct a park around Bab-e-Pakistan to pay homage to all the martyrs of the freedom movement. The final plan for the park is underway and as soon as it is completed, work on the development of the park will be started. The first phase of the project is expected to be completed within 5 years and after that work on the second phase will be launched.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
