Open auction of plots reserved for setting up a five star hotel and an international superstore in the Finance and Trade Centre, Johar Town, Lahore, will be held today (Saturday). The plots measure 114 kanals and 90 kanals respectively and will be auctioned at 10am in the Lahore Development Authority (LDA) Community Centre, Ayubia Market, New Muslim Town, Lahore.
The Finance and Trade centre is being established by the LDA on 1,123 kanals of land, situated near Expo Centre, Johar Town. Out of this land, a superstore would be built on 90 kanals, a five star hotel on 114 kanals, bank square on 69 kanals, health club on 27 kanals, hospital on 25 kanals, mosque on five kanals, recreation area on 75 kanals, parking and mini golf club on 32 kanals and a park and lake on 42 kanals. About 40 kanals have been reserved for multi-storey apartments, eight kanals for the service area and 388 kanals for roads.
The commercial area of the centre would be 111 kanals and a corporate office and LDA tower would be built on 101 kanals. Beside allocating a sum of Rs 500 million for infrastructure, the LDA has decided to relax building bylaws to encourage construction of high rise buildings in the centre. The LDA will frame special building regulations for the business hub and work on the project will be initiated after a subsoil survey of the site and issuance of no-objection certificate from the Civil Aviation Authority.