GENESIS PROPERTIES SECURES LAHORE GLOBAL VILLAGE IN LANDMARK BID, IGNITING A NEW ERA IN CBD PUNJAB’S VISIONARY DEVELOPMENT.
Lahore (Muhammad Yasir) Lahore Global Village (LGV), a beacon in the city’s urban landscape, propels forward with a groundbreaking shift as the Punjab Central Business District Development Authority (PCBDDA), also known as the Central Business District Punjab (CBD Punjab), officially takes charge of its sales and marketing operations. Guided by the forward-thinking directives of Chief Minister Punjab, Mohsin Naqvi, this milestone development signifies a pivotal moment in the project’s nine-year journey.
Formerly known as LDA Walk and Shop Arena, Lahore Global Village undergoes a transformative renaming, signaling a renewed focus and direction under the adept management of CBD Punjab. The fiercely contested bidding process saw active participation from three key bidders – Star Marketing, Genesis Properties JV Techno Construction, and Times Construction. Genesis Properties emerges triumphant, securing the retail area for Rs 405 sq ft, the kiosk for Rs 500 sq ft, and clinching the kids’ area and rooftop at an impressive bid of Rs 100 per sq ft. Additionally, Genesis Properties will undertake the responsibility of rent and marketing management for Lahore Global Village.
The approval of the bid by the auction committee of CBD Punjab, following meticulous due diligence and formalities, marks the initiation of a transformative era for Lahore Global Village. Imran Amin, CEO of CBD Punjab, extends warm congratulations to Genesis Properties, emphasizing that Lahore Global Village is positioned as a unique project set to elevate the city’s offerings for its residents.
While expressing his views CEO CBD Punjab, Imran Amin said “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 move not only aligns with the city’s growth objectives but also underscores the commitment of CBD Punjab towards crafting a distinctive and flourishing urban landscape.
