Latest news with #PunjabCentralBusinessDistrictDevelopmentAuthority
Business Recorder
5 days ago
- Business
- Business Recorder
STZA declares Silicon Block of CBD NSIT City ‘Development Zone'
LAHORE: In a landmark achievement, the Silicon Block of CBD NSIT City developed by the Punjab Central Business District Development Authority (PCBDDA), has officially been declared a Development Zone by the Special Technology Zones Authority (STZA). The Silicon Block is strategically planned to serve as a dedicated ecosystem for cutting-edge innovation. The declaration by STZA marks a pivotal step in transforming Punjab into a nucleus for technological advancement, attracting both local and international enterprises specializing in Artificial Intelligence, Internet of Things (IoT) Blockchain, software development and research and development (R&D) facilities. Commenting on this milestone, CEO CBD Punjab, Imran Amin, stated, 'The designation of our Silicon Block as an STZA-approved Development Zone reinforces our commitment to driving economic progress through technology. It opens the doors to global collaboration, investment, and the creation of high-value jobs in Punjab. Our vision is to create an environment where innovation flourishes, ideas transform into scalable solutions, and Pakistan stands tall on the global tech map.' The STZA recognition not only brings significant national prestige but also unlocks a comprehensive suite of incentives aimed at fostering business growth. Investors and enterprises setting up within the Silicon Block will benefit from streamlined regulatory support, tax exemptions, and access to state-of-the-art digital infrastructure a critical factor in nurturing startups and established tech giants alike. Designed to keep pace with rapid advancements in the global tech industry, the Silicon Block offers a master-planned environment tailored to the needs of modern enterprises. From flexible office spaces and collaborative work zones to smart urban amenities, the project aims to set new standards in urban planning and tech-focused development. This milestone is yet another testament to CBD Punjab's dedication to pioneering transformative projects that contribute to economic diversification and national development. The Silicon Block, as part of Pakistan's first and largest IT city NSIT City is envisioned to create thousands of direct and indirect employment opportunities, attract significant foreign investment and serve as an incubator for groundbreaking ideas and disruptive technologies. With the official STZA approval now in place, CBD Punjab is actively inviting technology leaders, venture capitalists and innovative startups to explore the unmatched potential of the Silicon Block. By doing so, it reaffirms its commitment to shaping a digital, prosperous and future-driven Pakistan turning vision into reality, one development at a time. Copyright Business Recorder, 2025
Business Recorder
02-07-2025
- Business
- Business Recorder
CBD NSIT City: CEO CBD Punjab reviews development work
LAHORE: Chief Executive Officer of Punjab Central Business District Development Authority (PCBDDA), Imran Amin, visited the site of CBD NSIT City, Pakistan's first and largest IT city, to review the ongoing development work. During his visit, CEO of CBD Punjab chaired a high-level progress review meeting held at the project site. He was accompanied by senior officials of CBD Punjab, including Executive Director Technical Riaz Hussain, Director Project Management Asif Iqbal, Director Construction Sameer Aftab Sial, Director Construction Asif Babar, Director Engineering Omar Hayat, and Project Manager CBD NSIT City Yasir Saifullah. Officials from Nespak, including Project Director Jamshaid Janjua, and representatives of the project's official contractor also participated in the session. The review meeting featured detailed briefings on the ongoing progress of CBD NSIT City. Updates were shared on key development components, including road infrastructure, utility works, execution of the city's master plan, and the under-construction Celestia IT & Office Tower, a landmark project poised to become a central hub for technology firms, startups, and corporate offices within the Silicon Block. CEO CBD Punjab, Imran Amin, emphasized the need to maintain high-quality standards and align all work with international benchmarks. While addressing the review meeting, he said, 'CBD NSIT City is more than just a development project; it is a vision to place Punjab on the global technology map. We are committed to delivering this with excellence, innovation, and transparency'. He further instructed departments concerned and contractors to expedite work while ensuring there is no compromise on quality or sustainability. He also lauded the efforts of the technical and project management teams for their dedication and stressed that the project must reflect the futuristic vision of Chief Minister Punjab, Maryam Nawaz, who has consistently emphasized the importance of the IT sector as a pillar of economic growth. He added, 'Following the vision of Chief Minister Punjab, we aim to create a knowledge-based economy by facilitating technology-driven development and providing a world-class environment for innovation.' Copyright Business Recorder, 2025
Business Recorder
20-06-2025
- 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
Business Recorder
31-05-2025
- 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
21-05-2025
- Business
- Business Recorder
CBD, local govt join forces to identify strategic business hubs
LAHORE: The Punjab Central Business District Development Authority (PCBDDA) has joined hands with the local government and community development department Punjab, along with the Project Management Unit (PMU), to identify Central Business Districts (CBDs) across various districts of Punjab. The cooperation has been made on the directives of the Punjab Government, said Chief Operating Officer of CBD Punjab, Brigadier Mansoor Janjua (R). Lauding the collaboration, he said, 'This joint effort underscores our dedication to building a progressive and sustainable urban future for Punjab. By partnering with the Local Government and PMU, we are working to identify and develop strategic locations that will act as catalysts for regional economic growth. Our focus remains on ensuring that every new CBD is planned with precision, promotes inclusive development, and meets the dynamic needs of our communities.' This forward-looking collaboration aligns CBD Punjab's future expansion with the province's long-term urban development and land-use planning goals. The CBD Punjab contributes its technical expertise to support the identification of suitable sites for CBDs that meet strategic and economic objectives. The joint efforts between CBD Punjab, the local government and PMU streamline the urban planning process across the province, ensuring business districts are developed in line with established provincial policies and planning frameworks. Utilizing data-driven insights and coordinated planning, the collaboration sets the foundation for sustainable urban growth, economic progress and the development of modern business hubs. As part of the collaboration, the CBD Punjab provides expert recommendations and spatial assessments to guide site selection and assess development potential. These activities are conducted in accordance with the PCBDDA Act 2021 and are aligned with the broader planning standards of the province to ensure compliance and effectiveness. This alliance also enhances transparency, promotes inter-agency coordination and encourages efficient resource sharing. It supports the government of Punjab's vision of creating modern, well-organized and economically vibrant urban centers that foster investment, infrastructure advancement and job creation. By working in unison, the CBD Punjab and its government partners are laying the groundwork for a transformative urban future one that unlocks opportunities and redefines the economic and spatial development landscape across Punjab. Copyright Business Recorder, 2025
