Hotel plot auctioned for Rs2.17bn

LAHORE, Sept 17: The LDA sold out its hotel site of 118 kanal for Rs2.177 billion through an open auction held at its Ayubia Market office in Muslim Town here on Monday.

The plot, which is located at the planned Finance and Trade Centre (FTC), has spread over an area of 1,123 kanal adjacent to the Expo Centre in Johar Town. The reserved price for the hotel site plot had been fixed at Rs14 million per kanal whereas it was auctioned for over Rs18.4 million per kanal.

Messrs Nishat Hotels and Properties Limited offered the maximum bid for the plot which was followed by M/S Daewoo Sapphire Consortium.

LDA Vice-Chairman Aamir Asghar Dar supervised the auction proceedings in presence of auction committee members, including Chief Metropolitan Planner Waseem Ahmad Khan, Director Estate Management Muhammad Nauman Khan, Director Finance Zaheer Asghar Rana, Director Estate Management (Township) Mian Mazhar Iqbal and Director Land Development Imran Raza Abbasi.

The LDA’s governing body has already permitted other uses of the hotel site, including setting up of an inter-city bus terminal/D-class bus stand for indefinite period, a super store, a shopping centre and provision of other allied facilities.

The LDA has also relaxed building bye-laws for encouraging construction of high-rise buildings in this new hub of business in the provincial metropolis.

SITES: The auction of six sites for setting up schools in the approved private housing schemes, at least 21 residential plots of Sabzazar, Garden Town, Gujjarpura and Packages Quarters on Walton Road as well as 21 commercial plots in Johar Town, Allama Iqbal Town, Mustafa Town and other LDA housing schemes will be held on Tuesday (today) at the LDA Community Centre, Muslim Town.

The six schools sites to be auctioned are located at Eden Canal Villas, Campus View Town, Abid Town, Abdalian Society and Engineering Cooperative Housing Society.

TRANSFERS: LDA Additional Director General (Headquarters) Mariam Kayani has ordered transfers of two officers.

Salman Raza, Assistant Director (Town Planning), has been transferred and posted at the Directorate of Estate Management (Avenue-I) whereas Maria Ali, Assistant Director (Town Planning), has been transferred and posted at Directorate of Private Housing Scheme vice Salman Raza.Source: