LAHORE: The Area Development Plan rules recently promulgated by Lahore Development Authority (LDA) seem to be gaining traction, by allowing developers to plan innovative large projects along main arteries of Lahore, instead of illegal and unsightly strip development in vogue so far. In a recent meeting of the LDA governing body, two projects of 101 Kanals and 88 Kanals were approved. Zaamin Group from Lahore, developer of a private housing scheme, Zaamin City, has announced intention of setting up 3 Technology Parks on about 150 Kanals each to support the government efforts to increase IT exports to 10 Billion dollars per annum over next 5 years. The Prime Minister has set up a Special Technology Zone Authority and has announced incentives for development of Technology Zones. In a recent conference, Overseas Investors Chamber of Commerce & Industry (OICCI) President, Mr. Haroon Rashid suggested that Pakistan needs to bring 5-10 million square feet space quickly underutilization.—PR

Copyright Business Recorder, 2021