Despite the rumours, the CBD is not buying land in Falcon and Askari VPosted by On

LAHORE: Contrary to speculations, Lahore’s Central Business District (CBD) is not in the process of acquiring land from the closeby private housing societies.

Rumours had been afloat that the CBD’s administration was planning on acquiring land from Askari V Housing Society and Falcon Complex of Air Force Officers Housing Scheme (AFOHS). Contrary to circulating speculations in the real estate market, the authority clarified its operational procedures, emphasising that it does not engage in direct land acquisitions.

The CBD project 

The CBD was launched by the Punjab Government last year to develop commercial real-estate in Punjab. The ethos behind the project was to use unused government land to develop a district within Lahore where commercial and residential real estate projects could be developed. 

A major avenue for the project was dead in the centre of Lahore, where the CBD knocked down the old Walton Airport (the area located between the entrance towards Model Town and the Falcon Enclave) and handed it over to real estate developers to make both commercial and residential high-rise real estate.

This is important. The CBD in all of its phases is only supposed to use land that the government already owns. Which is why the idea that they would be acquiringh Askari V land or Falcon Complex land would not add up legally. 

So why the rumours? 

Askari V and Falcon Complex are right next to CBD’s main project. Both are army initiatives and privately owned…

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