Pakistan Property News: LDA plans to establish CBD
LAHORE (December 30, 2010) : The Lahore Development Authority (LDA) has planned to establish a Central Business District (CBD) in the city comprising Jail Road, Main Boulevard, M. M. Alam Road, segment of Hali Road and Sharae Noor Jehan, Gulberg for creating more investment, business and employment opportunities in the city.
Work on the first phase has already been started in the form of construction of first ‘Park and Ride’ Plaza at the Liberty Market, disclosed a LDA’s spokesman here on Wednesday. The newly constructed Park and Ride Plaza has become operational and hundreds of people including shoppers and visitors are daily benefiting from this safe and secure parking facility of international standard.
Built at a cost of Rs 677 million, this 11 floors structure has been constructed on a 3.17 kanal piece of land adjacent to UCH, within a period of one and a half year with a capacity of providing parking facility to 308 cars per day. As many as 80 shops have also been built in the basement, ground and first floors of this plaza along with two restaurants on the first floor as well as the roof top of the structure.
Chief Minister Shahbaz Sharif has directed the Lahore Development Authority (LDA) to construct 10 more ‘Park and Ride’ plazas in the city within six months. Work on two such plazas each at New Anarkali and Barkat Market will be started within 20 days.
The LDA has a clear comprehension of the challenges it is facing and is committed to substitute policies and practices, which are damaging to the urban spatial, economic and fabric structure of the city with the ones which are modern, business-friendly and in line with international best practices of urban design and city planning. This process involves extensive urban studies for which a clear programme has been chalked out.