All you have to know about Lahore downtown

It is fair to say that Lahore is quickly running out of land for horizontal stretches and new residential communities with larger residences. If we’re talking about suburbia, we’ve all had to deal with the impact of growth on our agricultural resources, food costs, and the lack of open space. 

The conversion of rich areas into housing projects has not only depleted our natural resources, but in most cases, the properties are too far from the city centre to qualify as our “dream houses.” As a result, for both residential and commercial real estate, the future of Lahore real estate lies in the adoption of a vertical building style. You may also like to learn about the Silver City Islamabad.

Vertical growth is encouraged by the government:

Prime Minister Imran Khan has stressed the necessity of vertical growth in Pakistan’s main cities. He also emphasises the importance of quickly adopting new construction patterns in order to tackle future problems. We anticipate significant changes in the Lahore real estate market, as well as a surge in demand for luxury and mid-tier flats.

The LCBDDA (Lahore Central Business District Development Authority) devised a strategy:

Lahore Prime – between Kalma Chowk, Ferozepur Road, and Main Boulevard Gulberg was created by the Lahore Central Commercial District Development Authority (LCBDDA) to promote investment and business prospects in Lahore. 

Hassan Khawar, Punjab’s special assistant to the Chief Minister (SACM), hailed the opening of Lahore’s first contemporary “Lahore Downtown” in the city’s Central Business District (LCBD). Get the idea from Eighteen Islamabad.

Following the opening of the Downtown, Lahore’s first Digital and Residential City will open. According to sources, Lahore Downtown would be a well-organized and well-planned complex with high-rise structures built with current construction techniques.

 These high-rises can be used by commercial entities such as banks, the entertainment sector, and retail brands, depending on their demands. Seven mixed-use commercial properties in the CBD Punjab defined area will be auctioned off to create the new megadevelopment.

“Lahore Downtown will be a statement of quality and integrity for everybody by innovating new chances in the sector of real estate,” stated Mohammad Omer, Executive Director Commercial LCBDDA. The initiative would not only attract local and global investment, but will also create new employment and economic prospects in Punjab.”

A basic overview of Lahore’s downtown:

The number of skyscrapers being built in Lahore has increased significantly, providing additional possibilities for residential and business units. The concurrent government’s objective is to employ public resources for the benefit of the people by repurposing unproductive property, increasing job possibilities, and attracting private investment and new enterprises to the city.

High-rise structures will be housed in the first planned and structured Lahore Downtown, which will encourage the expansion of vertical constructions to make better use of land. Businesses from a variety of industries will employ these high-rises, including banks, entertainment, hospitality, technology, and many more.

Master plan:

• The present administration created the Central Business District (CBD), which began in the former Walton Airport region and featured various high-rise structures and residential units. 
• It will be Pakistan’s first smart and environmentally friendly development initiative. The government built the LCBD with a PKR100 million investment, and via land auctions, it has already produced PKR40 billion.
• In March 2022, the project is scheduled to reach PKR100 billion, and in March 2023, it will reach PKR200 billion. The government expects this commercial zone to bring in up to PKR 2,500 billion in income. 
• Blue roads, subterranean electricity, an underground traffic system, tree-lined boulevards, a stable power supply, and the internet of things are just a few of the notable amenities to be supplied to the public in Lahore Downtown.

The steps to becoming a registered bidder are as follows:

The registration procedure is straightforward. All you have to do is fill out an online form on the Lahore Business District Development Authority’s website. Your firm name, kind of business, contact information, and any questions you may have are all required on the registration form. You must also choose the plot area against which you want to bid.

Master Plan for the Central Business District:

Prime Minister Imran Khan announced the Central Business District (CBD) as Pakistan’s first smart and environmentally friendly development in March 2021. 

The project began at the former Walton Airport region, and it includes various high-rise structures, residential apartments, and corporate offices. The necessity of constructing sustainable infrastructure that works in tandem with the environment is exemplified by the Central Business District.

The initiative began with barely PKR 100 million and has raised PKR 40 billion through land auctions until yet. By March 2022, the project is estimated to earn PKR 100 billion, and by March 2023, PKR 200 billion. 

The project seeks to give inhabitants with all of the advantages of vertical living while also providing residential alternatives and work possibilities for the general public.

Lahore Downtown is part of the Central Business District master plan, which will provide the public with the following amenities:

• Blue highways
• System of underground transportation
• Pedestrian infrastructure
• Trees with wits
• Power delivery that isn’t interrupted
• Things-on-the-internet

Author Bio

Muhammad Junaid is senior Analyst, and Search Engine Expert. Extensive experience being an IT Manager in Park View City Islamabad. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.