Punjab CBD third auction generates Rs6.55bn revenue

LAHORE: Central Business District (CBD) Punjab conducted third auction of its commercial plots on Thursday generating a total revenue of Rs6.55 billion. This event marked yet another milestone for CBD Punjab, following the success of two previous auctions, further solidifying its reputation as a premier business hub in the region.

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, showcasing the significant interest and demand for these premium properties.

The competitive bidding atmosphere highlighted the strategic importance and investment potential of these plots. BSM Developers, Zameen.com, Enrichers Investment Group, Banu Mukhtar, and Grand City were among the notable participants of the auction.

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 a total amount of 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. 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 CBD Punjab projects.

CBD Punjab CEO Imran Amin 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," he added.

This successful auction reaffirms CBD Punjab's commitment to providing lucrative investment opportunities and developing a world-class business district that meets the highest standards of urban planning and sustainability. The consistent interest from top-tier developers and investors highlights the credibility and future potential of CBD Punjab as a leading commercial and business hub in Pakistan.