Recently, CM Punjab approved the establishment of a new development authority in Lahore to further develop its upscale neighbourhoods.
It is said that the new body will be called as the Lahore Central Business District (CBD) Development Authority, and will be set up under the Lahore Central Business District Development Authority Ordinance 2021.
The new development authority will have the power to buy and hold property and to carry out development in high-end areas.
The existing body i.e., the Lahore Development Authority (LDA) overlooks the development and planning in the Lahore district.
It is also added that the legislation, once approved, will appoint retired and serving officers of the armed forces as well as officers from the civil service as the director-general of the authority.
This new body will be an independent body set up to boost commercialization in Lahore and to promote vertical construction.
It is informed that the idea to set up the Central Business District in Lahore was first proposed by LDA back in 2009 for the development of areas namely Jail road, Main Boulevard, M.M. Alam Road, Hali Road, and Gulberg.
News Desk is the author at Research Snipers covering all Pakistan news including Business, Social, Entertainment, Economy, Pak News, World News, and More. News Desk is managed by a senior editor at Research Snipers.