LAHORE: Central Business District (CBD) Punjab recently concluded its third auction of commercial plots, generating revenue of Rs6.55 billion, marking yet another milestone for CBD Punjab.
The auction featured three prime mixed-use commercial plots located in the prestigious CBD Punjab Business Bay. The plots presented at this auction were highly sought after, attracting bidders from all over the country, and showcasing the significant interest and demand for these premium properties. Notable participants included some of the most prominent names in the industry such as BSM Developers, Zameen.com, Enrichers Investment Group, Banu Mukhtar, and Grand City.
The first plot, CBD Punjab Business Bay 1, spans 8.73 kanals with a Floor Area Ratio (FAR) of 1:16 and was sold to BSM Developers for Rs2.32 billion. This plot is expected to become a landmark development, given its strategic location and the reputation of the developer. The second plot, CBD Punjab Business Bay 2, measuring 8.89 kanals, was acquired by Zameen.com for Rs2.15 billion, as a leading real estate portal. The third plot, CBD Punjab Business Bay 3, measuring 6 kanals, was also sold to BSM Developers for Rs2.8 billion, indicating their strong interest and belief in the prospects of CBD Punjab.
Imran Amin, CEO of CBD Punjab, expressed his satisfaction with the outcome of the auction, stating, “We are thrilled with the overwhelming response from esteemed developers and investors across the country. The successful auction of these commercial plots underscores the immense potential and trust in CBD Punjab as a prime investment destination. We are committed to transforming the business landscape of Punjab and fostering economic growth through such strategic developments.”
Copyright Business Recorder, 2024
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