LAHORE – The Punjab Central Business District (CBD) has announced the successful completion of the third auction of commercial land with total revenue reaching Rs 6.55 billion. The event marks another milestone for Punjab CBD, following the success of the previous two auctions, further cementing its reputation as the region's leading business hub.
The auction featured three prime mixed-use commercial sites located in the prestigious CBD Punjab Business Bay. The lots offered at this auction were highly sought after, attracting bidders from all over the country, demonstrating the great interest and demand for these luxury properties. The competitive bidding atmosphere highlighted the strategic importance and investment potential of these parcels. Notable participants included some of the most prominent names in the industry such as BSM Developers, Zameen, and more. com, Enrichers Investment Group, Banu Mukhtar, Grand City.
The first parcel, CBD Punjab Business Bay 1, is spread over 8.73 kanals and has a floor area ratio (FAR) of 1:16 and was sold to BSM Developers for a total of PKR 2.32 billion. This parcel is expected to be a landmark development given its strategic location and developer's reputation. 8.89 Kanal's second plot, CBD Punjab Business Bay 2, was acquired by Zameen.com for PKR 2.15 billion. The third parcel of 6 Kanals, CBD Punjab Business Bay 3, was also sold to BSM Developers for Rs 2.8 billion, demonstrating their strong interest and belief in the future potential of CBD Punjab.
Expressing satisfaction with the outcome of the auction, CBD Punjab CEO Imran Amin said: “We are thrilled with the overwhelming response from esteemed developers and investors across the country. We are committed to transforming the business environment of Punjab and fostering economic growth through such strategic developments.''The success of this auction is a highly profitable one. It reaffirms CBD Punjab's commitment to providing investment opportunities and developing a world-class business district that meets the highest standards of urban planning and sustainability. Consistent interest from leading developers and investors highlights CBD Punjab's credibility and promise as Pakistan's premier commercial and business hub.
