CBD PUNJAB EXECUTES HISTORIC LAND TRANSFER IN RECORD 24 HOURS’ WORTH 6.9 BILLION PKR

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has successfully completed the fastest land transfer in its history, closing a transaction worth 6.9 billion PKR for plots Lahore Prime 4 & 5. Taxes deposited for this transfer exceeded 310 million PKR to the government treasury through the Board of Revenue (BOR), marking the largest plot transfer at auction price in Punjab.

This significant transfer, involving a 23-kanal plot owned by the Pakistan Corporate Consortium REIT fund, is a milestone for both CBD Punjab and the Pakistan Corporate Consortium (PCC). It represents the first plot to be transferred by CBD Punjab to PCC, with the BOR recording its largest transfer fee on a single purchase for the year 2023-2024.

In a groundbreaking move to boost investor confidence and streamline business operations, CBD Punjab has fulfilled its promise of transferring land to investors within record 24 hours of full payment. This achievement underscores CBD Punjab's dedication to creating an efficient, investor-friendly environment.

CBD Punjab has committed to providing a one-window operation for its investors, simplifying processes and ensuring a hassle-free experience. Demonstrating this commitment, CBD Punjab recently completed the transfer of ownership for two amalgamated plots in Lahore Prime CBD Punjab Quaid District to the Pakistan Corporate Consortium (PCC) following their full payment. PCC emerged victorious in the competitive auction for these plots, marking a significant milestone in their investment journey.

Commenting on the swift transfer process, CEO CBD Punjab Imran Amin said, "This achievement reflects our unwavering commitment to providing our investors with the best possible experience. At CBD Punjab, we believe in creating an environment where investors can thrive and contribute to the economic development of the region. Our one-window operation is designed to make the process as smooth and efficient as possible, and we are proud to see it in action."

With the land transfer completed, the next phase of development is set to commence. CBD Punjab will provide full support in building design and other formalities required for the construction of its first skyscraper. This landmark project is expected to set new standards in urban development and further reinforce CBD Punjab's position as a premier investment destination.

Comments

Huawei and OPPO Sign Global Patent Cross-licensing Agreement

Huawei and OPPO announced the signing of a global patent cross-licensing agreement, which covers cellular standard essential patents, including 5G. "After more than 20 years of continuous innovation, Huawei has developed multiple high-value patent portfolios in the global marketplace in domains like 5G, Wi-Fi, and audio/video codecs," said Alan Fan, Head of Huawei's Intellectual Property Department. "We are delighted to have reached a cross-licensing agreement with OPPO. The mutual recognition of intellectual property value between companies is a major step towards fostering a positive cycle of innovation and research in high-value standards: investing, receiving returns from investment, and then reinvesting. This will enable our industry to keep innovating and provide consumers with more competitive products and services." "We are very pleased to enter into patent cross-licensing agreement awith Huawei. It clearly demonstrates that the two compan...

Pakistan’s Maaz Masood Ansari wins ACCA’s Regional Advocate of the Year award

ACCA (the Association of Chartered Certified Accountants) has recognised Maaz Masood Ansari, Executive Director Financial Advisory, Deloitte, with its Regional Advocate of the Year Award for Middle East and South Asia (MESA) region. The ACCA member from Pakistan, Maaz, was lauded for his contributions to developing professional accountancy across Pakistan, particularly in supporting Deloitte trainees and employees at department level further develop and become ACCA members themselves. “ACCA’s Advocacy Awards are not about career achievement but about the way that ACCA members give back to their communities, and help ACCA to develop the next generation of professional accountants. ACCA members in Pakistan are a driving force at the forefront of the accounting industry. Maaz has set a great example for all professionals in the country on how they can lead the profession into the future by dedicating their efforts to developing future-ready talent.” – Sajj...

CBD PUNJAB CEO PUSHES FOR EXPEDITED COMPLETION OF WALTON ROAD PROJECT

CEO Central Business District Punjab (CBD Punjab), Imran Amin, chaired a comprehensive review meeting to assess the progress of the Walton Road Upgradation Project. This pivotal initiative is set to significantly enhance the infrastructure of Punjab's provincial capital. The meeting was attended by Executive Director Technical CBD Punjab Riaz Hussain, Director of Architecture and Planning Samir Aftab Sial, and official contractors of the project. Executive Director Technical CBD Punjab, Riaz Hussain, provided an extensive briefing on the project's progress, highlighting key milestones achieved. Notably, the completion of the main trunk sewer and the remodeling of the ADA Nullah were reported. The ADA Nullah will soon be connected with the newly constructed nullah, marking a critical step forward. Additionally, the sub-base work ...

Tech UP

Search This Blog