PCBDDA suggests leveraging state land to produce trillions

According to news from March 16, Punjab Central Business District Development Authority (PCBDDA) CEO Imran Naeem said that the authority could make trillions of dollars by using the potential of land owned by the government.

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Naeem said that if the government and private businesses help the PCB DDA, the authority can make PKR 4 trillion by using state-owned land, including land that belongs to the Punjab Cooperative Board for Liquidation, all over the province.

The CEO said that the authority can come up with a good plan for using this land for high-rises, shopping malls, residential areas, and other residential, commercial, agricultural, and industrial projects. He said that the state-owned land in Walton and Gulberg can bring in PKR 1 trillion just for the Lahore chapter of PCBDDA. It was also said that PCBDA has started development work with PKR 56 billion in funds from the sale of plots owned by the government.

The PCBDA CEO also talked about the ongoing development projects in Lahore, such as the two underpasses at Kalma Chowk, the remodelling of the Gulberg Main Boulevard, the upgrading of the underground sewerage and drainage system, and the building of the CBD main boulevard, parking plaza, walkways, etc.

The chief said again that the CBD-Lahore would be the first super high-rise infrastructure in the country that would create jobs and bring in money.