Lahore: The Lahore Development Authority (LDA) has set a new revenue record by collecting over PKR 3.55 billion in a single public auction held at the Expo Centre, Johar Town on Thursday. This marks a significant milestone, surpassing the PKR 2 billion revenue generated in the last auction.
A total of 42 properties, including residential and commercial plots, educational sites, market sites, dispensary sites, apartment sites, restaurants, canteens, and salons, were successfully auctioned.
One of the most notable transactions was a commercial plot on Jail Road, Gulberg V, which fetched PKR 1.88 billion. Additionally, an apartment site in Johar Town B-1 was sold for PKR 436.6 million, while a commercial plot in Jubilee Town secured PKR 162 million.
Other key auctions included:
Education site in OPF Scheme A Block – PKR 179.6 million
Commercial plot in Civic Center, Johar Town – PKR 87.6 million
Education site in Mustafa Town (Lease Rights) – PKR 20.8 million
Restaurant site at LDA Sports Complex (Lease Rights) – PKR12.1 million
Rooftop restaurant in Moon Market, Allama Iqbal Town (Lease Rights) – PKR 7.7 million
Several commercial plots in Johar Town, Jubilee Town, Mustafa Town, Tajpura, and Sabzazar also attracted strong bids, ranging from PKR 5 million to over PKR 37 million.
The auction was conducted under the supervision of the LDA Auction Committee, along with senior officials, including the Additional DG Housing, Additional DG UP, and directors from LDA Avenue One, Housing, Revenue, Finance, Auction, and Education departments.
Meanwhile, under the directives of LDA DG Tahir Farooq, enforcement teams carried out a major operation against illegal commercial buildings, defaulters of commercial fees, and unauthorized constructions. A total of 45 properties were sealed, while illegal plaza structures in various parts of the city, including Gulberg, Faisal Town, Model Town, Allama Iqbal Town, and the railway station area, were demolished.
With its latest auction success and continued enforcement measures, the LDA is reinforcing its commitment to urban development and financial growth in Lahore.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
