Punjab to initiate legislation for Real Estate Investment Trust establishment
Business
CM receives briefings on projects of Punjab Central Business District Authority
LAHORE (Dunya News) – A meeting headed by Punjab Chief Minister Maryam Nawaz has decided to legislate for the establishment of a real estate investment trust in Punjab.
During the meeting on Tuesday, detailed briefings were given regarding projects of the Punjab Central Business District Authority.
The CEO of the Punjab CBDA, Imran Amin, presented reports on the evaluation of Qaid District, Bab District and Pindi District during the meeting.
The CM was briefed on the establishment of Lahore’s Grand Civic Centre on Ferozepur Road, where 600 shops and restaurants will be set up.
It was explained that the CBD Grand Central Station will be established at Lahore’s Kalma Chowk. The CBD will also develop environmentally friendly blue roads on Main Boulevard Gulberg.
During the meeting, a decision was made to legislate for the establishment of the Real Estate Investment Trust in Punjab, while progress on the Silicon Cluster in IT City was also reviewed.
CM Maryam directed to finalise deals with Chinese, South Korean and Arab companies for IT City and to achieve the annual targets for CBD projects, presenting progress reports.
Consensus was reached during the meeting to establish CBD business centres in eight cities of Punjab, while a proposal to establish a City of Sports in Sialkot was also presented.
