LAHORE: Lahore Development Authority (LDA) on Thursday fetched over Rs3.55 billion in revenue from a single public auction of plots.

The auction was held here at the Lahore Expo Centre, where 42 properties, including residential and commercial plots, educational sites, market sites, dispensary sites, and apartment sites, besides restaurants, canteens, and salons, were auctioned.

A commercial plot located on Jail Road, Gulberg V, was auctioned for Rs1.88 billion. Additionally, an apartment site in Johar Town B-1 fetched Rs436.6 million, while a commercial plot in Jubilee Town was auctioned for Rs162m.

Other significant auctions included those of an education site in OPF Scheme’s A Block, sold for Rs179.6m and a commercial plot in Civic Centre, Johar Town, that was auctioned for Rs87.6m.

Lease rights, including an education site in Mustafa Town, were auctioned for Rs20.8m, a restaurant site at LDA Sports Complex Canal West for Rs12.1m, and a rooftop restaurant in Moon Market, Allama Iqbal Town, for Rs7.7m.

Similarly, lease rights of a school canteen in Sabzazar, a marquee site in Gujjarpura, and a sports site at Lahore Bridge were auctioned at competitive prices.

Several commercial plots in Johar Town, Jubilee Town, Mustafa Town, Tajpura, and Sabzazar attracted significant bids, with values ranging from Rs5m to over Rs37m.

The auction was supervised by the LDA director general (DG), additional DG Housing, additional DG UP, director LDA Avenue One, director Housing, director revenue, director Finance, director Auction, and director Education.

LDA had collected revenue of over Rs2 billion, in the last auction, as well, according to a spokesman.

Published in Dawn, February 21st, 2025