Plan Made to Turn Walton Airport Land into Business Center
According to news reports, the Central Business District Authority (CBDA) of Lahore has approved plans to construct a commercial market on the Walton airport property. The authorities has created a plan to initiate 60 billion PKR worth of economic operations in the city.
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The strategy will be developed in conjunction with private builders and developers.
Sources indicate that the CBDA has approved the development proposal for 770,000 square feet of land. Regarding the proposed land layout:
- 43% of the area will be used for commercial centres and structures, while 17% will be used for residential construction.
- Mixed uses, such as lifestyle, commercial centres, and academies, will occupy forty percent of the property.
- 180,000 sq.mt. This land will be utilised for road network construction.
In contrast, the CBDA budget for the current and forthcoming fiscal years was approved at PKR 2.5 billion.
Read More: LDA Proposes PKR 44 billion for 30 Development Projects
In addition, the Punjab government will grant a 100 million rupee loan with a two-year repayment period. The feasibility studies, infrastructure design, and construction oversight would cost a total of 940 million Pakistani rupees (PKR).
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