CBD Punjab secures Rs81m annual lease for petrol pump site

LAHORE: The Punjab Central Business District Development Authority (PCBDDA), commonly known as Central Business District Punjab (CBD Punjab), has successfully leased a 4-kanal commercial plot securing Rs81 million annually for a petrol pump and food outlet site through a competitive open auction.

The auction attracted significant interest from leading petroleum companies and business groups, with initial bids starting at PKR46 million. Major contenders included Pakistan State Oil (PSO), Euro Petroleum, Go Petroleum, Zoom Petroleum, NSB Bearing and Myco Engineering. After an intense bidding process, Imran Sultan of NSB Bearing Private Limited secured the 10-year lease for the petrol pump and food court site.

Commenting on the successful auction, the CEO of CBD Punjab, Imran Amin, stated, "This auction underscores our commitment to fostering economic growth by developing infrastructure that serves both commercial and community needs. The petrol station and food court will provide much-needed convenience for commuters and residents in the area."

This site is the only one in the CBD Punjab Quaid District master plan specifically designated for such a purpose, further amplifying the interest in its prime location on Route 47. The auction was overseen by CBD Punjab Chairman Barrister Syed Azfar Ali Nasir, CEO Imran Amin, COO Brigadier Mansoor Janjua (retd), and other senior board members.

CBD Punjab continues to lead in the development of innovative commercial and residential projects, positioning Punjab as a central hub for business and investment opportunities.

Copyright Business Recorder, 2024