Lahore Central Business District Development Authority (LCBDDA)—A Venturous Threshold of the Real Estate Sector
Economic revitalization is the core priority of the Government of Pakistan. For this, following the post-Covid-19, many initiatives are on the go to sustain economic downfall. The real Estate Sector is one of the prime paradigms to support the Pakistani economy. The progressive growth rate of the Pakistani economy indicates positive points thanks to the govt.-backed real estate projects. In this perspective, Govt. of Punjab has taken a historical initiative by launching Lahore Central Business District Development Authority (LCBDDA). This will usher the real estate and urban building structures to new horizons. Next-Home Realtors foresees this step by the Govt. as the upshot of the construction industry in the province.
What is LCBDDA and How Does It Work?
Lahore Central Business District Development Authority (LCBDDA) is a fresh initiative endorsed by the Punjab govt. to support and grow Business Districts and other construction development projects in the Punjab province.
Role of the LCBDDA.
The Punjab Govt. realizing the significance of the agricultural status of the province, imposes the restrictions on horizontal land development (residential colonies, societies, and town expansions). For this purpose, Vertical land development of the residential buildings is encouraged. So, LCBDDA got brought into existence. The core role and prime functionality of the authority are to encourage rapid developments of the industrial estate, business hub, and high-rise apartment buildings across the Punjab province. In this regard, business stakeholders and real estate investors are encouraged to call for interest in the projects endorsed by the LCBDDA.
The functionality of the LCBDDA
LCBDDA introduces the stakeholders and potential investors to the projects under the banner of its controlling authority. The authority further incorporates the project developers and investors to assist in the project development. LCBDDA encapsulates you in each step towards your investments in its offered projects.
LCBDDA functions in the following three paradigms.
The most relaxing facilitating help desk is here with LCBDDA–One-Window Operation. The policymakers have designed this window such that an investor doesn’t have to go anywhere else for documentation. All the legal and official processes get done in the same sitting. Stakeholders are fully obliged with assisting guidance to ensure a hassle-free procedure. The one-to-one discussion addresses all the concerns raised by the developers or investors.
Multistory Corporate & Apartment Building Projects
The next functioning feature of the LCBDDA is the endorsement to build high-rise multi-floor buildings for residential and commercial settlements. Unlike the other projects, the authority primarily aims to develop more vertical buildings rather than diffusing ones. To accommodate the growing population of Lahore city and the province, investors and builders are invited to take part in vertical development projects assisted by the LCBDDA.
LEED Assimilated Building Designs
Amid the catastrophic climate changes, LCBDDA is committed to standardizing the building architecture and design approved by LEED (Leadership in Energy and Environmental Design). All building projects launched by the LCBDDA will solely enjoy LEED assimilation. Though, international investors and multinational conglomerates can be more reliant to rent out these buildings. So, it will give the investors a higher Return on their investment with LCBDDA.
Present CBD Project by LCBDDA
The groundbreaking pioneering CBD (Central Business District) project by LCBDDA is the “Lahore Prime”. The CBD(Lahore Prime) engulfs Kalma Chowk, Ferozepur Road, Walton, and Gulberg precincts with various ventures underway for commercial and residential developments.