Lahore Development Authority finally decides to build tech park on Ferozepur Road
LAHORE: The Lahore Development Authority (LDA) has finally decided to establish a major tech park situated on Ferozepur Road, close to the Arfa Karim tower. The decision to establish the tech park has been taken keeping in view the findings of some internal market research reports that declared the land measuring nearly 119 kanal fit for the IT and allied businesses, according to official…
The Lahore Development Authority (LDA) has finally decided to build a major tech park on Ferozepur Road, near the Arfa Karim Tower, according to official sources. The decision was based on internal market research reports that identified the nearly 119 kanal land as suitable for IT and allied businesses, stated Asaduz Zaman, LDA’s Chief Town Planner.
The land, which was formerly a fruit and vegetable market that was relocated to Kahna in 2011, has been purchased by the LDA from the Model Town Cooperative Housing Society in 1978. The LDA had paid over Rs761 million for compensation to shop owners for their structures, relocation, and disturbance. In 2021, the land was allocated to the Specialised Healthcare Department for a hospital, but the department failed to pay the amount despite extensions.
The new plan has allocated 50 kanal for commercial use, 1.12 kanal for public buildings, 6/17 kanal for parks, and 60 kanal for parking and roads. The auction of the first batch of plots is scheduled for October 14, with the remaining plots to be auctioned in 2027 and 2028, expecting revenue of Rs13.566 billion. The project aims to boost business activities in the IT sector.
Written by urgent.news from Dawn - Pakistan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
