EPA rejects $410m Central Business District

LAHORE
The Environment Protection Agency (EPA) Punjab has discredited the necessity of launching the proposed plan of developing Central Business District at the land of Walton Airport with an estimated cost of $410 million.
Sources in Lahore Development Authority (LDA) said the plan was envisaged under the Punjab government’s Green Field Projects and the authority had done necessary correspondence with the Civil Aviation Authority (CAA) to enter into a joint venture agreement for the purpose.
LDA sources said Chief Minister Shahbaz Sharif had directed the civic body to initiate the project to attract international investment in the provincial metropolis. Sources claimed that the joint venture’s draft agreement had already been prepared and was under consideration of different government departments for finalisation.
However, the Lahore Flying Club filed a petition (20013/2014) and the court, during the hearing, had directed the Environment Protection Agency (EPA) to submit a site inspection report, while ordering the DO (Environment) to prepare the report.
Sources said the DO (Environment) submitted the site inspection report to the EPA Director (P&C) on March 26, which is also available with The News. The documents reveals that the DO said, “There is no dire need of conversion of this open land for residential purpose as the city is already lacking open spaces/green lands. As per the Metropolitan Area Master Plan 2021, environmental point of view and historical point of view, the Walton Airfield should not be converted into any residential area.”
It further states as per the master plan, the said premises is allocated for transport and as per historical point of view, the Walton Airport premises has served as shelter point for refugees and Quid-e-Azam also met them here and the historical asset exists since pre-partition.
According to the designed project, the LDA will construct a high-density commercial corridor in the bustling neighbourhood of Gulberg and the proposed facility will be the focal point of commercial, corporate and retail activity in the city. The site is located in the centre of modern Lahore and sits on prime real estate located between Gulberg and Defence Housing Society, which are two major upscale residential localities of Lahore.
It is readily accessible from Ferozepur Road, Walton Road and Gulberg Main Boulevard, which are the main arteries of Lahore. According to the salient features, the project involves internal development and master planning in order to sell plots for five-star hotel, shopping mall, retail shopping areas, office complexes and entertainment areas, development of upcoming commercial, corporate and retail hub of the city conforming to international standards, prime real estate located at the centre point of intra-city transportation network.
The LDA documents also reveal that a central three lane dual carriageway artery along with connecting road network will also be constructed to increase accessibility of the public to the site.
The papers say that 70 commercial plots will be developed on 603.7 kanal, 40 offices will be constructed on 379.4 kanal, 10 plots for mixed used commercial plots on an area of 99.5 kanal, one mall on 27.9 kanal, a five star hotel on 102.5 kanal, three parks and green areas on 90.7 kanal, Walton Community Club on 51.8 kanal, nine plots for Bank Square on 108.8 kanal, a service area on 40.2 kanal and roads on 531 kanal.
The LDA documents say that the estimated cost of this project was Rs 43,271 million (US 4 410 million) whereas according to the LDA, the Net Present Value (NPV) of this project was Rs 10,135 million (US $96 million) while its Internal Rate of Return (IRR) is calculated as 36 per cent.
The site inspection report further revealed that many residential societies - such as PAF Complex Housing Society, Naval War College, Askari-V, Falcon Complex Housing Society, Naseerabad and Gopal Nagar - were established with the passage of time. It is claimed that the adjoining societies Askari-V and Falcon Complex Housing Society have been established without securing mandatory environmental approvals.
Talking about the Walton Airfield, it said it hah a rich national heritage as being the home of oldest aviation institution of Pakistan and needed to be preserved. It said presently, Walton Airfield had seven flying training clubs namely Lahore Flying Club, hybrid Aviation, Airborne Aviation, UFSC Aviation, Eclipse Aviation, Department of Plant Protection Aviation and Scaled Aviation. Objectives of these clubs, except Department of Plant Protection Aviation, is to give training to the pilots from ab initio stage to private pilot’s license stage and then on commercial pilot licenses and airline transport pilot license stage.