Lahore Central Business District Development Authority (LCBDDA) has auctioned five commercial properties for Rs 21.588 billion after receiving the highest bids from four groups, including a Turkish real estate company, at an open auction in Johar Town.
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The authorities have auctioned a 1st 18-Kanal Plot for Rs 7.623 billion (Rs 424 million per Kanal) after receiving the best offer from a joint venture of Nova City Developers & Bayraktar Insaat. The 2nd 11-Kanal plot was auctioned for Rs 4.202 billion (Rs 382 million per Kanal ) after ASE-Hasnat offered the highest price. The 3rd 10-Kanal plot was sold for Rs 2.84 billion (Rs 284 million per Kanal) to M Abbas Khan (highest bidder).
The 4th and 5th plots, 10 Kanals each, were auctioned at Rs 4.69 billion and Rs 2.845 billion (Rs 313 million and Rs 284.5 million per Kanal) respectively, after a consortium of Pakistani companies has made the highest offer.
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