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Business Recorder
4 days ago
- Business
- Business Recorder
NSIT Residencia: CBD Punjab to auction residential plots in June
LAHORE: The Punjab Central Business District Development Authority (PCBDDA), also known as the Central Business District Punjab (CBD Punjab), is all set to hold the auction of premium residential plots in NSIT Residencia this June. Building on the momentum of four previously successful auctions, this latest venture marks another bold step forward in the authority's mission to redefine urban living and development in Punjab. NSIT City is envisioned as a dynamic urban center comprising three districts IT, Education and Film districts, Located adjacent to DHA Phase 6 and 7, said a spokesperson of the Authority here on Friday. NSIT Residencia sits at the heart of this transformative zone, making it a strategic and future-ready investment opportunity offering unmatched accessibility to key locations within Lahore. Positioned as the next sought-after address in the provincial capital, NSIT Residencia combines luxury living with smart city infrastructure, providing investors with an exceptional opportunity. CBD Punjab is offering four premium plots of up to four kanals each in this prime location. The reserve price has been set at PKR 95 million per kanal, with earnest money fixed at PKR 20 million. To ensure greater ease and accessibility for potential buyers, a flexible three-year payment plan has been introduced, making this an attractive prospect for both local and overseas investors. Applications for the auction must be submitted by June 16, 2025. Commenting about the upcoming auction, CEO CBD Punjab, Imran Amin, said: 'NSIT Residencia is a key part of our vision for a future-ready Punjab. By integrating IT, education and film districts within a single urban ecosystem, we are creating a city of opportunity. This auction is not just a real estate event it's an invitation to invest in the next chapter of Punjab's growth story.' The development of NSIT Residencia is expected to generate a positive ripple effect on the regional economy. From job creation and increased real estate value to improved infrastructure and sustainable urban planning, the auction will contribute significantly to Punjab's socio-economic advancement. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Business
- Business Recorder
RUDA aims to revive River Ravi through new barrage
LAHORE: Chairman of Ravi Urban Development Authority (RUDA) Shahid Ashraf Tarar has said that their main objective is to revive the River Ravi and they were moving in that direction; the river will be flowing after the construction of first barrage which will have the capacity of storing 59 billion litres of water. He expressed these views during his visit to different sites of Ravi City to review the ongoing construction work at the embankments and other development work on Monday; he was accompanied by RUDA Chief Executive Officer Imran Amin. They also visited the river training site, and on this occasion, they were told that in the first phase of river training, a majority of the work had already been completed. They also reviewed the construction work for package 6 which links the already done earthwork with the Lahore-Sialkot Motorway (LSM). The RUDA CEO also visited Nath Village to review the ongoing uplifting work. Fatima Ali Khan, Director Special Initiatives, CSR and Diversity, briefed the visitors on the progress on key facilities, including a dispensary, school, entrance gate, roadworks, drainage systems and pavers. Emphasising timely completion, the RUDA CEO directed to finalise all remaining work by June 30, with an inauguration planned for mid-July. He further instructed that the paint work on the street walls should begin next week. He, while visiting the Mehmood Booti dump site, appreciated the site engineers for undertaking the task of converting it into a modern urban jungle and park with a solar power array generating 5 megawatts of electricity. This will beautify the city, he said. Moreover, he also visited the upcoming flagship residential project Chaharbagh where senior officials briefed him about the developmental work completed so far. He instructed RUDA officials on site to speed up communication infrastructure linking up with trunk and also feasibility finalisation of a flyover, linking Chaharbagh with Ring Road. Copyright Business Recorder, 2025
Business Recorder
02-05-2025
- Business
- Business Recorder
CBD Punjab launches special video to honour labour workforce
LAHORE: The Punjab Central Business District Development Authority (PCBDDA), also known as CBD Punjab, launched a special video on Labour Day. This initiative is a tribute to the dedicated individuals who drive the authority's visionary projects. At CBD Punjab, progress thrives on collaboration. The Authority 's dedicated staff works closely with a local labour force to successfully execute complex and transformative infrastructure projects. This collective effort has enabled CBD Punjab to overcome longstanding civic challenges. Key achievements include the revitalization of Walton Road and the permanent resolution of the ADA Nallah issue once symbols of urban decay, now symbols of urban renewal. CEO CBD Punjab, Imran Amin, emphasized, 'Our infrastructure isn't merely steel and concrete it embodies the determination, unity and hard work of those who bring it to life. Thanks to the unwavering commitment of our team and local labourers, hum hain Sar Buland. Their tireless efforts continue to shape a progressive future for Punjab.' The video, unveiled today, serves as a visual tribute to those who work with dignity, discipline, and pride. It will be accessible on CBD Punjab's digital platforms. Copyright Business Recorder, 2025
Business Recorder
25-04-2025
- Business
- Business Recorder
RUDA, PVTC sign MoU to enhance youth empowerment
LAHORE: The Ravi Urban Development Authority (RUDA) signed a Memorandum of Understanding (MoU) on Thursday with the Punjab Vocational Training Council (PVTC) to enhance youth empowerment and promote vocational training. While addressing the signing ceremony, RUDA Chairman Shahid Ashraf Tarar emphasised the strategic importance of this partnership, highlighting it as a milestone in RUDA's ongoing efforts to equip the youth with essential skills. 'This MoU is not just collaboration, it is an opportunity to create a meaningful impact and leave a legacy that future generations will benefit from,' he added. RUDA Chief Executive Officer (CEO) Imran Amin, speaking on this occasion, highlighted RUDA's initiatives in skill development and the establishment of technical institutions, including ongoing projects within RUDA's jurisdiction. He underscored the potential of such collaborations to transform the socio-economic landscape. PVTC Chairman Khalid Mahmood Chaudhary expressed his gratitude to the RUDA team for their dedication and professionalism in ensuring compliance and facilitating the MoU's execution. Both organisations are aligned in vision and committed to working collectively towards achieving mutual goals, he added. Fatima Ali Khan, Director Special Initiatives at RUDA, said that this partnership marks a new chapter in public-sector collaboration aimed at creating sustainable opportunities for skill acquisition and economic empowerment. Copyright Business Recorder, 2025
Express Tribune
22-04-2025
- Business
- Express Tribune
Pakistan's most advanced road completed in Lahore, produces electricity
Authorities in Lahore have completed construction of what they describe as the country's most advanced urban road, located in central Lahore, officials said on Monday. Known as Route 47, the 4.5-kilometre thoroughfare runs through Kalma Chowk and links several major arteries of the city, including Ferozepur Road, Gulberg Main Boulevard, Walton Road and the Lahore Ring Road. The project, which cost an estimated Rs9 billion (around USD 32 million), was carried out by the Punjab Central Business District Development Authority (CBD Punjab). 'This road is the central boulevard of the country's most modern commercial district,' said CBD Punjab CEO Imran Amin. 'It meets international standards and incorporates several smart features.' The road includes a nearly one-kilometre flyover and is equipped with separate pedestrian and bicycle lanes. Officials said it was designed to prevent water accumulation during rainfall, a frequent issue in Lahore's monsoon season. Sidewalks along Route 47 are being fitted with solar panels, which will provide shade and generate up to one megawatt of electricity. 'I believe this is Pakistan's first smart road that will also produce energy,' Amin said. The route runs through what was once Walton Airport, a 300-acre site now being redeveloped into a high-rise commercial zone. The area is being positioned as Lahore's Central Business District, part of a wider push towards vertical urban development. Officials said infrastructure work in the district is now largely complete, including new sewage systems, stormwater management, and the construction of two parking plazas. Rainwater from the area will be channelled through underground systems and directed to an artificial lake, which is also nearing completion. The government plans to promote the CBD as a hub for both business and information technology in the coming years.
