Lahore: Lahore Global Village (LGV), a beacon in the city’s urban landscape, is making a historic shift as the Punjab Central Business District Development Authority (PCBDDA), also known as the Central Business District Punjab (CBD Punjab), takes over sales and marketing operations.
This milestone breakthrough, guided by Chief Minister Punjab Mohsin Naqvi’s forward-thinking orders, marks a watershed moment in the project’s nine-year journey. Formerly known as LDA Walk and Shop Arena, Lahore Global Village undergoes a dramatic rename, reflecting a revitalized emphasis and direction under CBD Punjab’s expert administration.
Three significant bidders actively participated in the intensely contested bidding process: Star Marketing, Genesis Properties JV Techno Construction, and Times Construction. Genesis Properties emerges victorious, securing the retail space for Rs 405 sq ft, the kiosk for Rs 500 sq ft, and the kids’ section and rooftop for an amazing Rs 100 per sq ft. Genesis Properties will also oversee the rent and marketing for Lahore Global Village.
The ratification of the bid by the CBD Punjab auction committee, following careful due diligence and legalities, marks the beginning of a revolutionary era for Lahore Global Village.
Imran Amin, CEO CBD Punjab, stated that “Lahore Global Village is a distinctive project for the residents of Lahore, and we believe that, with the successful bidding and partnership with Genesis Properties, it will continue to thrive and serve as a hallmark for the city”.
This strategic step not only corresponds with the city’s growth ambitions, but also demonstrates CBD Punjab’s dedication to creating a distinctive and dynamic urban landscape.
