H&S REAL ESTATE LAUNCHES ‘AUTOGRAPH’, 11 BILLION RUPEES PROPERTY PROJECT IN PAKISTAN

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Lahore (Muhammad Yasir) Dubai-based top property investment firm, H&S Real Estate, has launched a PKR 11 billion ($70 million) Autograph, a pioneering hi-tech residential project in Lahore. H&S Real Estate, a subsidiary of Haqsons Group, is an international business conglomerate headquartered in Dubai, UAE with a sizeable presence in Pakistan, China, USA, Japan and Angola. H&S has also announced that it plans a series of real estate investments in major cities as Pakistan currently offers incentives to new foreign companies and the construction industry.

Autograph, a Ground + 27-storey tower, spans over 800,000 sqft, located in Maple Drive, Near M block, DHA phase 5, Lahore and will house five types of deluxe apartments. The project consists of 367 ultra-luxury units, four basement floors, and mezzanine floor. Floors 18 & 19 are allotted for duplexes, floors 20 & 21 for triplex apartments.  The developer is aiming for an early completion of the project, scheduled to deliver in Q3 2025.

Emad Haq, Vice Chairman of H&S Real Estate & Haqsons Group, said, “We have always been at the forefront of innovation in the real estate sector. That makes our properties sustainable and enhances the life expectancy. The blend of avant-garde and Artificial Intelligence-based smart-home technologies create peace of mind and higher Return-on-Invest (ROI). We learnt it while working in the most established and popular metropolitan cities of the world such as Dubai-UAE and Houston-USA.  Autograph reflect the dreams and aspirations to design every aspect of residents’ living experiences based on their, likings, tastes and lifestyles.”

Besides The state of the art and innovative architectural design, residents of Autograph project will also benefit from living in a community which offers the most spectacular outdoors and life-enhancing amenities such as sky pools, sky gardens which makes Autograph a healthy and sustainable community. The super luxury apartment category has an infinity pool as well. Modern fitness center, various sports facilities, salon, butler services, prayer area, and a café offer an ultra-luxury lifestyle with safe and social environment.

Saad Haq, Group CEO of H&S Real Estate, said: “For the first time in Pakistan, we are introducing the concept of the fully integrated home automation. The web-based technologies at Autograph will enable the resident to access his home while away from it and anywhere in the world. The remote-controlled home lighting, TV, appliances and devices save 20 to 40% of the energy and water consumption, give 100% safe and secure environment in addition to 24-hour CCTV and availability of trained and experienced security guards.”

The multi-award-winning H&S Real Estate is a renowned name in UAE’s property industry with over 25 years of experience. The company is a leader in servicing UAE’s top developers such as Emaar Properties, Meraas, and Damac, to name a few. H&S is considered the most trusted real estate investment adviser in the UAE with multi-billion dollar of projects under its belt. The company is now offering the similar level of expertise in Pakistan.

NBP signs agreement with Board of Revenue and (PITB)

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NBP signs agreement with Board of Revenue and Punjab Information Technology Board for collection of Stamp Duty/Taxes

Karachi  (Muhammad Yasir)  National Bank of Pakistan (NBP), the country’s largest public sector commercial bank, has signed a tripartite with the Board of Revenue (BoR) of Govt. of Sindh and Punjab Information Technology Board (PITB) for collection of Stamp Duty/Taxes on behalf of BoR and PITB.

The E-stamping is one of the landmark schemes launched with the view to facilitate general public/tax payers. The e-stamp papers will be issued at the selected branches of NBP through seamlessly integrated PITB’s software system and NBP’s Core banking System. The new feature will enable real-time collection of Government revenue. The funds collected will be settled with SBP centrally and e-challan will be provided to treasury. This digital solution will save time, effort and cost while eliminating leakages in Government revenue.

The signing ceremony of e-Stamping Tripartite SLA (NBP, PITB and BOR) was held in Revenue House BOR, Karachi. Makhdoom Mehboob Zaman, Minister for Revenue, Baqullah Unnar, Senior Member Board of Revenue (SMBR), and Rizwan Sarfraz, Additional Director Finance SBP were present on the signing ceremony. Mr. Mahmood Akhtar Nadeem, Group Head Branch Operations signed SLA on behalf of NBP.

Nestlé Pakistan continues its journey towards recovery

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Lahore (Muhammad Yasir) Nestlé Pakistan Limited reported its annual results for 2021, continuing its journey towards recovery during 2021 with a revenue growth of 12.2% as compared to 2020. The company reported its operating performance at the end of its Board of Directors’ meeting at the Company’s Head Office.

Gradual resumption of economic activities during the year helped the company to ensure undisrupted supply and availability of products, numeric distribution expansion and continue with innovation and renovation initiatives supported by investments behind the brands. Volume growth, cost savings initiatives across the value chain and portfolio and pricing management contributed to the improvement in profitability.

The 2021 launches included coffee products in Ready to Drink and 3in1 ranges, new sparkling drinks under its premium NESTLÉ FRUITA VITALS brand, EVERYDAY KASHMIRI CHAI, introduction of NESTLÉ PURE LIFE ACTIVE in 5-gallon format, NIDO GUFs Nutritods with No Added Sucrose and a number of products by Nestlé Professional.

The Board of Directors has recommended to pay final cash dividend of Rs.­­­ 281.55 per share as compared to Rs. 195.91 per share in 2020.

The Company expects inflation to remain high and challenges posed by record high commodity prices and global supply chain disruptions to continue in 2022. These coupled with recently imposed taxation measures are likely to have an adverse impact on the already deteriorating purchasing power of the consumers. Despite these, the Company remains cautiously optimistic about staying on course on its recovery journey in the coming year capitalizing on strong brand equity and highly committed workforce supported by continuous initiatives for operational excellence.

Getz Pharma Launches ‘MEDACE’, an online learning platform for medical professionals

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Lahore (Muhammad Yasir) Getz Pharma, in collaboration with Dow University of Health Sciences (DUHS), has announced the launch of the first three courses on their brand new online medical learning platform MEDACE. ‘MEDACE’ is an initiative by Getz Pharma aimed to facilitate medical professionals acquiring access to certified online courses.

The online platform is designed to enhance and improve their knowledge and practice, and aims to become the one platform for medical community where they can learn from the CME courses, watch webinars and videos as well as read blogs on recent medical updates to enhance their medical knowledge. Medical professionals can sign up for any number of certified courses throughout the year.

The launching ceremony was addressed by Dr. Jahanzeb K. Khan, Director Medical Affairs, PV and Clinical Research, Getz Pharma; Dr. Shahid Shamim, Professor of Surgery & Additional Director, Dow Institute of Health Professional Education; Dr. Yousuf Kamal Mirza, Consultant Physician & Hon. Professor of Medicine at Aga Khan University Hospital, Tabba Heart Institute & Medi-link Clinics; Prof. Bader Faiyaz Zuberi, Dean Medicine & Allied Sciences, DUHS.

Speakers from Getz Pharma and DUHS appreciated the collaborative efforts that have made this platform a reality. Doctors lauded the efforts of Getz Pharma in initiating this service, which will enable the medical fraternity across Pakistan to gain access to new and improved treatments, medical innovations and disease information.

Dr. Jahanzeb Kamal, said that MEDACE will connect young doctors with experienced ones in order to share knowledge to improve the practice via CME Courses; Webinars Lecture; Videos; Articles & Blogs. “Getz Pharma has taken scientific initiatives to develop locally accredited learning courses in collaboration with Dow University of Health Sciences, Karachi. These courses have indigenous contents delivered by native experts covering local unmet medical educational needs”, he added.

The purpose of this initiative is to enable healthcare professionals to learn and adopt various approaches towards treating their patients. Identifying risk factors and differentiating patient symptoms for better treatment outcomes and optimizing patient care and importantly providing healthcare professionals a platform where they can develop courses for young doctors so that they can enhance their knowledge and experience with local experts.

As a research-driven pharmaceutical company, Getz Pharma takes an active role in supporting healthcare professionals. Getz Pharma is proud to launch this online learning platform MEDACE, which will serve as a tool for learning and collaboration within the medical fraternity. The first three courses were developed with the help of DUHS.

Hate Speech Online; A Rising Social Crisis

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In today’s digital day and age, it is becoming easier and easier for us to reach millions of people, across the globe, with the click of a button. It is also becoming easier for us to put forward our opinions, views, perspectives and thoughts freely and openly. While this is a huge, and positive, leap towards freedom of expression and speech, it is not uncommon for people to abuse this freedom. While violence and harassment is often understood as infliction of physical pain and/or verbal abuse, violence can seep into the digital and online sphere as well. Similarly, hate speech, commonly misunderstood to be limited only to hateful verbal or written messages, can exist in many shapes and forms both online and offline.

Because of the blurring lines between hate speech and free speech, harassment, violence and hate speech is not only dangerously widespread but is being normalized as a regular experience, especially for marginalized and vulnerable communities. According to a survey, at least 34% women, among the survey respondents, have experienced online harassment and abuse. Additionally, 55% of respondents had witnessed other women being bullied by men online. It is therefore no surprise that, according to the survey, 70% women stated they were uncomfortable in posting their pictures online.

Sitting behind a screen, it is very easy to bully someone online, without fear of consequences. This behavior, consequently, is starting to make the Internet, social media in particular, an increasingly toxic environment. Such behavior patterns not only incite hatred and violence but also create an environment where discrimination and inequality against marginalized communities persist and worsen. It is vital for us to understand the difference between free speech and hate speech. Only when we understand that hate speech is not part of free speech will we be able to put an end to it. In an effort to put an end to this rising social crisis, the Government of Pakistan has introduced various initiatives and measures. With the development of the Cyber Rescue Helpline, victims of cyberbullying, harassment and hate speech can register cyber crime complaints on their website or their helpline 1991.

Section 9 of Pakistan’s Prevention of Electronic Crimes Act, 2016, states “Whoever prepares or disseminates information, through any information system or device, with the intent to glorify an offence and the person accused or convicted of a crime relating to terrorism or activities of proscribed organizations shall be punished with imprisonment for a term which may extend to five years or with fine which may extend to ten million rupees or with both.” Similarly, Section 153A of Pakistan’s Penal Code states, “Whoever promotes or attempts to promote, on grounds of religion, race, place of birth, residence, language, caste or community or any other ground whatsoever, disharmony or feelings of enmity, . . . shall be punished with imprisonment which may extend to three years, or with fine, or with both.”

This rising social crisis has widely been spoken about online and offline. A recent digital campaign called #BoloMagarPyarSe was seen trending on Twitter calling online and offline audiences to adopt a zero tolerance policy towards hate speech.  The campaign initiated by Mashal-e-haq also draws much needed comparisons between freedom of expression and hate speech, creating awareness about the importance of free speech and the consequences of hate speech. Not only is this a very relevant issue to address but also a very important one. You can find Mashal-e-Haq on twitter at @Mashalehaq and add your voice to the cause.  

It is important for every individual to recognize the role they play in addressing and ending hate speech online and offline. It is vital for us to understand the impact our words can have on someone and consider the feelings of others before we say, or type, something. Debates and discussions can be healthy, positive and even helpful in promoting growth, IF they are carried out in a non-violent way without inciting hatred, discrimination and disrespect.

 

 

Engro Corporation FY 2021 Results

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Karachi (Muhammad Yasir) Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the year ended December 31, 2021.

Overview of Financial Performance

During 2021, Engro Corporation’s standalone revenue increased from PKR 15.00 billion in 2020 to PKR 20.68 billion in 2021, exhibiting a substantial growth of 38%. Higher revenue was primarily due to higher dividends received from Engro Polymer & Chemicals Limited (EPCL) and Engro Fertilizers Limited (EFERT), which in turn were driven by strong underlying business performance. Resultantly, the company achieved a 14% higher PAT of PKR 18.52 billion in 2021 against PKR 16.30 billion in 2020, translating into an EPS of PKR 32.14 per share (2020: PKR 28.29 per share).

On a consolidated basis, Engro Corporation’s revenue grew by 25% to PKR 311.59 billion in 2021 from PKR 248.82 billion in 2020. The Company posted a PAT of PKR 52.61 billion in 2021, which is 19% higher than PKR 44.11 billion in 2020, translating to an EPS of PKR 48.50 per share (2020: PKR 43.57 per share).

Engro Corporation announced a final cash dividend of PKR 1/- per share for the year. This is in addition to the PKR 24/- per share dividend that has already been announced during the financial year, bringing the cumulative payout to PKR 25/- per share.

Portfolio Performance Review

Fertilizers: Domestic market witnessed strong agricultural sector performance in 2021. Resultantly, EFERT achieved a historical milestone of highest ever urea sales of 2,295 KT in 2021 against 2,057 KT in 2020. Due to the turnaround of Base and Enven plant, urea production during the year reduced from 2,264 KT in 2020 to 2,105 KT in 2021.

Phosphates sales stood at 366 KT whereby a steep rise in international prices dampened local demand. On an overall basis, EFERT achieved its highest ever PAT of PKR 21.09 billion in 2021, demonstrating a growth of 16% from 18.13 billion in 2020.

Petrochemicals: EPCL announced commercial operations of its new PVC plant and VCM debottlenecking during March and June 2021, respectively. PVC capacity increased by 100 KT to 295 KT per annum while VCM capacity increased by 50 KT to 245 KT per annum. These initiatives enabled EPCL to achieve record domestic PVC sales of 207 KT alongside highest ever PVC exports of 19 KT translating into an export value of USD 28 million. During the year, international PVC prices increased significantly due to supply disruptions, however, supplies to domestic PVC downstream market continued uninterrupted due to EPCL’s steady production.

EPCL recorded sales of PKR 70.02 billion as compared to PKR 35.33 billion in 2020. PAT increased from PKR 5.73 billion in 2020 to PKR 15.06 billion in 2021 showing an increase of 163% attributable to increased volumetric sales, efficient operations and higher international prices.

Telecommunication Infrastructure: During the year, Engro Corporation formed a dedicated platform for connectivity and telecom infrastructure initiatives by the name of Engro Connect (Pvt.) Limited (EConnect). EConnect is a wholly owned subsidiary of Engro and now holds complete ownership of Engro Enfrashare (Pvt.) Limited (Enfrashare), which is Pakistan’s largest independent telecom tower company.

Enfrashare continued to expand its national footprint and achieved a scale of 2,246 operational B2S towers with a 1.1x tenancy ratio while catering to all four Mobile Network Operators in Pakistan. Enfrashare built over 75% of the total new B2S towers that were deployed in the country during the year 2021. This increase in the portfolio led to a growth of 3x in the revenue in comparison with last year. The business has secured orders to reach a scale of 3,300+ sites by the end of 2022.

Foods & Rice: FrieslandCampina Engro Pakistan Limited (FCEPL) demonstrated a topline growth of 18%, recording sales of PKR 52.09 billion as compared to PKR 44.16 billion in 2020. The gross margin increased to 16% from 12% last year, translating into an increase in PAT from PKR 0.18 billion in 2020 to PKR 1.80 billion in 2021.

The business demonstrated an overall increase of 10x in the profitability driven by cost saving initiatives, leveraging e-commerce channels, improved reach / route to markets, increased marketing spend and market penetration to enhance brand equity.

Engro Eximp Agriproducts (EEAP) surpassed industry growth of 16% in the brown rice segment and recorded 21% growth versus last year. As a key contributor to foreign reserves, the business continued its focus towards exports, generating a revenue of USD 18.8 million through international sale of 24 KT rice against 28 KT last year. Given the supply chain constraints in the international market, the business pivoted its supply to the local market and increased domestic sales by 39% to 13 KT during 2021.

Energy & Power: Sindh Engro Coal Mining Company (SECMC) supplied 3.8 million tons of coal to Engro Powergen Thar Limited (EPTL) during the year. EPTL achieved an availability of 83% with a load factor of 80% and dispatched 4,225 GwH to the national grid during the year.

The Phase II expansion of SECMC’s mine to 7.6 million tons per annum is underway with 71% of the overburden removed from the site. Phase III expansion of the mine to 12.2 million tons per annum has also been approved during the year.

Engro Powergen Qadirpur Limited (EPQL) plant dispatched a Net Electrical Output of 851 GwH to the national grid with a load factor of 46% compared to 30% last year due to higher offtake from the Power Purchaser. EPQL’s revenue increased by 26% due to higher dispatch and load factor which was offset by the absence of long-term debt servicing component. The business posted a PAT of PKR 1.59 billion for the current period as compared to PKR 2.08 billion for 2020.

Terminals: Engro Elengy Terminal (Pvt.) Limited (EETL) successfully completed Pakistan’s first-ever Dry-Docking activity of FSRU Exquisite at Qatar dockyard with minimum outage during the switchover between the two FSRUs. During the Dry-Docking period, FSRU Sequoia enabled gas supply continuity ensuring national energy security.

The LNG terminal handled 72 vessels during 2021, in line with last year, delivering 216.2 bcf re-gasified LNG into the SSGC network with an availability factor of 96.5%. The terminal contributed 15% towards Pakistan’s total gas supply during the year.

The chemicals terminal throughput volumes normalized to 1,280 KT against 1,142 KT last year which was offset by lower LPG volumes. Overall, profitability of both the LNG and chemical storage terminals business remained stable during 2021.

Turkiye X Pakistan: An invite from beyond the borders!

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Lahore (Nut Desk)

Delegation of Event Managers return from FAM trip to Turkey and Northern Cyprus

Through the efforts of two companies, Tay Istanbul Events and Vision Events, the official tourism board of Turkey, invited a delegation from the TOP 9 Event Management Agencies in Pakistan, to discuss future business prospects and talent exchange between Turkey, Republic of Northern Cyprus and Pakistan. Event Management agencies who represented Pakistan included Vision Events, JBnJaws, Starlinks PR & Event, Raka Events, Fine Art Weddings, Mosh Diaries, Miradore Weddings, Tsafira, and IDC Ltd, which are some of the top-listed agencies!

In a conversation with Sarfraz Niazi, a partner at one of the top Event management agency from Lahore, JBnJaws, shared, “The experience was out-class and Tay Istanbul Events proved to be one of the most welcoming hosts ever! This trip showed us how there are so many untapped opportunities where the two countries could come together to provide better facilitations and ease is carrying out mega-events and collaborations.”

Turkey’s tourism board hosted the delegation at prime locations in Antalya, Istanbul and the Republic of Northern Cyprus, with many recreational activities showcasing the rich culture to make the experience, one to remember!

Start-ups launch diverse, high-impact solutions at NICL, LUMS

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Lahore (Muhammad Yasir)  At the culmination of its eighth cohort, the National Incubation Center Lahore (NICL) at LUMS held its flagship Investor Summit, bringing together seasoned investors, inspiring entrepreneurs, and corporate innovators.

“We have now graduated eight cohorts from Lahore and Quetta in a short period of time, by dynamically adapting to extraordinary circumstances, transforming our offering, and launching several new initiatives such as programmes in partnership with Saarland and Stanford,” said Saleem Ahmad, Chairman NICL and NIC Quetta. “At the Investor Summit today, I am proud to see the transformation and growth in these remarkable young entrepreneurs. Our aim at NICL is to continue supporting such talent and connecting with industry and academia to generate lasting impact,” he added.

The 13 start-ups graduating are a diverse set of high-impact ventures, including QBio, establishing Pakistan’s enzyme biotechnology company; Dawa Asaan, Pakistan’s first smart pharmacy delivering pre-sorted medicines; Peervest, a digital equity-based crowdfunding platform that connects tech-enabled start-ups with eligible investors; Loading Champions, a complete learning, coaching and recruitment solution; and Heirloom, that produces artisanal, sustainable and responsibly produced goods with elevated aesthetics. In the past, NICL’s graduating start-ups have gone on to raise funding after pitching at the Investor Summit; KalPay, a shariah-compliant BNPL service have already closed their pre-seed round via an angel investment of $100,000 and are in the process of finalising their next round of funding.

Attending the Investor Summit and offering valuable feedback were an esteemed panel of investors and entrepreneurs from across the ecosystem, including Aatif Awan (Indus Valley Capital), Badar Khushnood (P@sha), Qasif Shahid (Finja), Salman Khalid (Chogori Ventures), Ali Farid Khwaja (KTrade.pk), Omair Ansari (Abhi), Usman Javaid (Ricult Inc.), as well as Yusra Solangi (Zayn Capital) and Shakaib Naqvi (Zayn Capital). Representatives from Engro Corporation’s energy team were also present to provide perspective on sustainable solutions and corporate innovation.

Speaking at the occasion, Badar Khushnood, Chairman P@sha and member of NICL’s Foundation Council observed, “The diversity, depth and professionalism of start-ups at the Investor Summit is heartening to see. Despite challenges posited by Covid, NICL has been able to build the right pipeline of start-ups and mature it effectively. I’m delighted that each pitch I saw today, reflected the right vision, exposure and confidence.”

Start-ups presenting at the Investor Summit undergo a rigorous six-month long programme, with in-depth training in Design Thinking, Law, Strategy and Business Modelling, Market Research, Communications and Entrepreneurial Finance. In addition, they receive one-to-one mentorship from industry leaders in their domains.  

The Center is now gearing up to welcome its ninth cohort, with ideas that solve problems in high-impact verticals across Pakistan. Representing fintech, Aamdani, a start-up founded by LUMS students, promotes earned wage access; Cashmail, founded to help ease chronic poverty, works on loan disbursement and recovery with the microfinance industry; whereas Zarai Zambeel provides digital financial solutions and services for farmers.

Other ideas include Gamma Green Recycle which helps recycling through cash incentives, SAY Global, that works on solving mental health and speech impediment issues, and Ebilty, which connects transporters with customers and provides end to end solutions.

 

 

15 million people in Pakistan are in need of refractive and optical services in Punjab

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Lahore (Muhammad Yasir) The data shows that about 15 million people in Pakistan are in need of refractive and optical services. However, inequality, access, affordability and availability of services make it extremely difficult for most people, especially in rural area, to get their refractive errors corrected. A focused contribution from private and public sectors is required to cater this need. In this regard, an initiative called Improving National Systems in Pakistan for Integrated Action on Refractive Error (INSPIRE) has been launched by Sightsavers in collaboration with National Programme for Prevention and Control of Blindness and its provincial chapter, i.e., College of Ophthalmology and Allied and Vision Sciences (COAVS) Mayo Hospital Lahore.

According to the details, districts Sheikhupura and Multan from Punjab province are the target areas of the said project.  

“The five-year INSPIRE project will reach over a million people with eye health screening services at primary health care level while providing   around 200,000 people with refractive and optical services,” disclosed Munazza Gillani, Country Director, Sightsavers, while sharing details of the initiative.

She further said that the Sightsavers, in collaboration with the COAVS, Lahore, has initiated the INSPIRE project to assist the development of a comprehensive approach to strengthening refractive and optical services in Pakistan. The project will also make a significant contribution to the effective scaling up of screening, refractive services and eyeglasses provision and will promote the integration of these approaches into government-led national programs.

Sightsavers in collaboration of COAVS will initiate an accredited opticianry course in Punjab province for the first time in the history of Pakistan to produce a qualified workforce of qualified and certified opticians to address the issue of unavailability of quality spectacles.

As part of the implementation strategy, a stakeholder’s consultation was held in Lahore which was attended by representatives of Punjab health department, Program Implementation Unit of LHWs program, National coordinator of NCEH, DG COAVS, and representatives of Sightsavers.   On the occasion, Munazza Gillani gave in overview of the initiative the implementation strategy.

On this occasion, Prof. Dr. Asad Aslam Khan (National Coordinator of the National Blindness Control Programme) said that “Sightsavers and National Blindness Control Programme have collaborated closely since 2004, and in Punjab, COAVS has led the way to build a strong track record of innovation and commitment to achieving the objectives of global commitments such as Vision2020”. He said that this could have not been possible without public private partnership. He further added that unless we provide eye care services at primary level, we cannot ensure the provision of services to masses.”  He appreciated the role of Sightsavers in eye health sector in Pakistan.

Ms. Sumrana Yasmin (Global Technical Lead at Sightsavers) said that “INSPIRE project will be addressing one of the most pressing challenges of unavailability of quality opticianry services. The project is well aligned with refractive error/school eye health strategies of Sightsavers and other international eye health frameworks and commitments”.

Prof. Dr. Zahid Kamal Siddiqui, Principal and Director General COAVS, congratulated Sightsavers for consulting the most relevant stakeholders of the project to address the on-ground challenges and opportunities regarding URE.

Sightsavers has been working in all four provinces, including Gilgit Baltistan and AJK in collaboration with Ministries of Health and Education. It has so far successfully trained more than 100,000 people in the eye health workforce, including teachers.

LCBDDA Attracts New Investment For Lahore’s First Downtown Through Pre Bid Interactive Sessions

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Lahore (Muhammad Yasir) Lahore Central Business District Development Authority (LCBDDA) organized pre-bid interactive sessions in Karachi, Lahore, Islamabad, Gujranwala, Faisalabad before the grand auction of Lahore’s first planned Downtown, which is likely to take place end of this month, exact date to be announced soon. Authority is determined to facilitate and assist the investors and that is why such interactive sessions were also organized before the previous landmark auction of Lahore Prime.

LCBDDA which is also known as Central Business District Punjab (CBD) is desirous to facilitate the business community and to accelerate economic growth. These interactive sessions were hosted by Commercial Directorate of LCBDDA. Sessions were attended and applauded by the business community, investors, stake holders and potential bidders. The upcoming auction of Lahore Downtown comprises 7 mixed used commercial plots ranging between 12 and 14 kanals, providing very favourable bylaws to the developers. Downtown has already created an optimistic vibe in the real estate sector due to its ideal location in the heart of Lahore, Gulberg, Main Boulevard.

Mansoor Ahmed Janjua, Chief Operating Officer LCBDDA while expressing his views about the sessions and project said, ‘‘These sessions are organized to create awareness amongst the investors and potential bidders of Pakistan for Lahore’s first planed Downtown and its bidding process, we welcome bidders from not just Pakistan but from the international arena as well”. Further adding to the brief, Mohammad Omer, Executive Director Commercial said that, “The 5-year payment plan is attracting a lot of bidders, Lahore Downtown will become a sign of class and ingenuity for all by revolutionizing new opportunities in the field of real estate’’.

In previous auction of Lahore Prime the authority managed to get staggering investment of Rs 24 billion, which is an example that CBD Punjab’s is committed towards its objective of reforming and reshaping the economic growth of Pakistan. CBD Punjab is not only an economic growth attraction but it will also create multiple employment opportunities once the business and construction activities are rolled out. International and national investors showed deep interest in this highly anticipated project, opening new avenues for real estate sector and business community.