The PM Says Central Business District Project Likely To Attract Rs 100 Billion Investment In The Country

The Central Business District is an ongoing real estate project of the state being designed and set up for the comfort of the general mass and socio-economic development of Lahore. Addressing a meeting held in Islamabad under PM Imran khan's chairmanship, the premier said the Central Business District project was likely to be completed in April, attracting a considerable influx of Rs.100 billion investment in the country. As per officials, 80% of development work linked with drainage has been finished. He further added that Ravi Urban Development and Central Business District projects possess a colossal potential to change the economic fates of Lahore and the country. He directed the stakeholders to use eco-friendly construction materials for sustainable construction and development of the project.

In the 1st phase of the Central Business District, 12 multi-storied buildings of 500 feet height will be set up in the provincial capital of Punjab. In this regard, the Lahore Central Business District Development Authority is in constant touch with the Civil Aviation Authority (CAA) to finalize the issue of the height of towers.

According to officials, the latest auction of five plots in Central Business District Lahore has brought in Rs 21.5 billion to the accounts of the Punjab government. The project has been caught on without any loans, and its turnover is projected at Rs. 1500 billion.

A sharp increase in the supply of loans for the housing sector has been seen: PKR 1.6 bn in the housing sector three months ago and PKR 10 billion in the former three months. At last but notably, premier Imran Khan directed that the state is in full swing to take legal actions illicit encroachments and illegal housing societies.

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