Lahore Development Authority LDA to set up world class business hub

Lahore College of Art & Design

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LAHORE: THE Lahore Development Authority (LDA) will establish the first-ever planned business hub of international standard in the provincial metropolis on a 1,123 kanals land near Expo Centre in Johar Town.

The site has been selected keeping in view its proximity from Motorway, Southern Bypass and other major intercity roads of the provincial metropolis for facilitating easy movement of the business community from other cities. Specialised facilities for carrying out different types of major businesses will be provided to the area for making it a nucleus of commercial activities. The Lahore Development Authority has allocated a sum of Rs. 500 million in the current budget for construction of wide roads and improvement of basic infrastructure in the area for this purpose. Scheme planning for setting up various ventures in the area has also been finalised. Besides construction of corporate office and IT Tower, a superstore will also be built on 90 kanals, a five star hotel on 114 kanals, bank square on 69 kanals, a health club on 27 kanals, a hospital on 25 kanals, a mosque on five kanals, recreation area on 75 kanals, parking and mini-golf club on 32 kanals and a park and lake on 42 kanals. About 40 kanals have been reserved for multistorey apartments, eight kanals for the service area and 388 kanals for roads.

The commercial area of the centre will be on 111 kanals and a corporate office and LDA tower on 101 kanals. Plots in the Finance and Trade Centre will be sold through open auction by the LDA. In the first phase, open auction of plots reserved for setting up a five star hotel as well as an international superstore in the Finance and Trade Centre, M.A Johar Town Lahore, will be held on September 10, 2011. The Lahore Development Authority has also decided to relax the building bylaws for encouraging the construction of high-rise buildings in the Finance and Trade Centre.

Source: http://thenews.com.pk/TodaysPrintDetail.aspx?ID=65981&Cat=5&dt=9/5/2011

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