Lahore: The Lahore Development Authority (LDA) successfully auctioned 25 properties, including residential and commercial plots, petrol pump sites, and educational sites.
LDA Director General Tahir Farooq hailed the recent property auction as the most successful in the past five financial years.LDA secures record revenue in 5 years of PKR 1,114,995,922, according to reports from May 16.
Among the notable transactions were the lease rights for a property in LDA Avenue One, which fetched Rs. 9.6 crore, the auction of a petrol pump site for PKR 9.6 crore, and the sale of a property in Johar Town for PKR 3.12 crore. Additionally, an education site in a residential area was auctioned for PKR 91.43 lakh.
The success of the auction was attributed to meticulous planning, transparent procedures, and a competitive atmosphere orchestrated by the auction committee. This event underscored the vibrancy of Lahore’s real estate market and highlighted the LDA’s significant role in promoting sustainable urban development and economic growth.
