13 hours ago
- Business
- Business Recorder
CBD Punjab attracts Rs2.288bn through plot auction
LAHORE: The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab, attracted a significant investment of Rs 2.228 billion by auctioning four residential plots in CBD NSIT City.
Held under the banner of NSIT Residencia, an exclusive residential enclave within Pakistan's first and largest IT city, the auction showcased four residential plots, each approximately 4.5 kanals in size.
According to a spokesman of the Authority, a total of 186 bids were submitted during the auction, underlining the rising demand for high-value residential properties within this state-of-the-art development.
Each plot offered during the auction received considerable attention. Plot R-02-05 was successfully sold to Zameen Developments for 464.38 million, achieving a highest bid of 107 million per kanal. Plot R-02-06 was awarded to Umar Safdar at a price of 614.44 million, while Plot R-02-07 was secured by Zameen Developments for 619 million. Plot R-02-08, the final parcel in this auction cycle, was acquired by Muhammad Anwar Mian Noor for 601.005 million, with the highest bid recorded at 154.5 million per kanal.
Speaking on the occasion, CEO CBD Punjab, Imran Amin, said, 'This auction reaffirms the confidence investors have in CBD Punjab's vision. The overwhelming interest from both domestic and international stakeholders reflects our commitment to sustainable, high-impact development that transforms urban Punjab into an engine of economic growth.'
Copyright Business Recorder, 2025
