LDA auctioning Park & Ride Plaza-Gulberg business property lease rights

The Lahore Development Authority (LDA) will hold a public auction for the leasing rights of businesses and parking area at the Park & Ride Plaza in Gulberg, according to a September 19 announcement.

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According to the information supplied, this auction will take place on Wednesday, October 4, 2023 at 10 a.m. at the LDA Community Centre, which is located at 9, Sook Centre, Garden Town Scheme, Lahore. The LDA asserts that investors and business proprietors seeking to acquire prime real estate in a strategic location have an excellent opportunity.

The entire first floor of the Park & Ride Plaza at Liberty Roundabout in Gulberg is one of the properties up for auction. This commercial property is approximately 7,604 square feet in size. The customer will receive a 5-year lease with a generous 3-month grace period upon winning the bid. A participation fee of PKR 4.6 million and an initial bid price of PKR 150 per square foot per month are required. The authority will also auction the licensing rights for the building’s seven-story parking plaza. Contact the Director of Housing – X (Actions and Elements) at the LDA, Government of Punjab, if you’re interested in participating in this auction.

The address of their office is D/I-467 Firdausi Street, Main Boulevard, Johar Town, Lahore. You can call them at 0322-8888460 or send them an email at auctions@lda.gop.pk. You can also discover additional information on the official website of the Lahore Development Authority.