18-Apr-2023

Barrister Syed Azfar Ali Nasir, the Provincial Minister for Housing & Urban Development and Public Health Engineering Punjab, visited the Central Business District Punjab (CBD Punjab) in Lahore to observe the progress of ongoing sustainable development projects. Also present at the session were CEO CBD Punjab, Imran Amin, COO CBD Punjab, Brigadier (R) Mansoor Janjua, Chairman CBD Punjab, Fazeel Asif Jah, Executive Director Commercial, Mohammed Omer, Executive Director Legal, Barrister Bilal Afzal Khokhar, Director Marketing, Waseem Siddiq, and other officials of CBD Punjab. During the visit, the Executive Director Commercial CBD Punjab, Mohammed Omer, briefed the minister on the revenue generation strategies employed by CBD Punjab. The Authority operates on a self-sustaining model, generating revenue through open auctions, investor networking, public/private partnerships, joint ventures, and government-to-government initiatives, without relying on government funding or tax money. As a premium authority with a one-window operation concept, favorable bylaws, fast approvals, and an investor-friendly ease of doing business, CBD Punjab serves as a center for revenue generation for the Government of Punjab. The authority offers centralized and vertical infrastructure, allowing for increased building height limits of up to 750 ft. Expressing his satisfaction, CEO CBD Punjab, Imran Amin, stated, "We are delighted to provide a briefing to Provincial Minister Housing Urban Development and Public Health Engineering, Barrister Syed Azfar Ali Nasir, on our ongoing initiatives to establish Pakistan's first business district. At CBD Punjab, we are fully committed to sustainable development, and we believe that our initiatives will elevate Pakistan's standing on the global economic map." During the briefing on revenue generation activities, the Provincial Minister was informed that CBD Punjab conducted its first auction in September 2021, where the authority sold five mixed-use commercial plots in the Lahore Prime area. The second auction for Lahore's first planned central Downtown took place in March 2022, where the authority sold seven mixed-use commercial plots. CBD Punjab currently holds over 100 plots located in the heart of Lahore, with an estimated potential value of PKR 500+ billion. second auction for Lahore's first planned central Downtown took place in March 2022, where the authority sold seven mixed-use commercial plots. CBD Punjab currently holds over 100 plots located in the heart of Lahore, with an estimated potential value of PR 500+ billion. CBD Punjab is actively involved in several ongoing projects, including the remodeling of the Main Boulevard from Liberty to Kalma Chowk and CBD Punjab Boulevard, the planning of Lahore Grand Souk, infrastructure development of Phase-l, Car Parking Plaza, and the remodeling of Walton Road. Impressed with the progress and initiatives undertaken by CBD Punjab, the Provincial Minister for Housing & Urban Development and Public Health Engineering, Barrister Syed Azfar Ali Nasir, praised the authority's commitment to sustainable development and revenue generation for the government. He expressed confidence that the project would contribute to Pakistan's economic growth.