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By Dr. Saeed Ahmad Ali
LAHORE, Nov 19 (APP):The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has announced the launch of Grand Souq Lahore (GSL), to foster local and national business growth.
It will be constructed at an expansive 68-kanal area at the Rescue 1122 Academy at LOS bus stop, Ferozepur Road, here. A spokesperson for the CBD told APP that the project aims at facilitating and empowering the local business community, adding the project construction would be drawing inspiration from international architectural marvels in Dubai and Turkey, adding it will be meticulously crafted to meet global standards.
To further ease business operations, CBD Punjab has introduced an accessible installment plan for interested stakeholders, he said. The GSL will boast an outstanding sophisticated infrastructure in local history, including three floors with versatile retail spaces ranging from 350 to 550 square feet and underground parking, he added. CEO CBD Punjab, Imran Amin, while expressing his plans for the construction of mega project told APP on Sunday that the local business community and investors serve as the backbone of our economy.
Grand Souq Lahore is an anticipated hope marking a significant milestone in empowering these enterprises while fostering economic growth.
To a query he said that the strategic location of GSL at LOS here ensures accessibility for visitors from key areas such as Ferozepur Road, Shadman, Icchra, and Samnabad, adding the project is poised to transform the business landscape, providing a platform for local businesses, thriving and meet to diverse consumer needs.
Exploring the immense potential of GSL, business industry experts anticipate it to be a game-changer, elevating the local economy and setting new benchmarks in business development.
The project would further help promote environment-friendly urban regeneration projects on vertical principles. Pre-financial feasibility has been determined based on development as economic advancement and shall generate employment in various formations of the project, Amin said. Imran Amin further expressed that development shall also enhance vertical activity in surrounding areas, especially within the main markets including Anarkali, Gulberg, Mall Road, and other commercial activity areas with a boost in major business activity.
Imran Amin further said the GSL project would be associated with CBD directly and that development has been categorized into five districts namely, Commercial Zone, Digital District, Residential District, Entertainment and Government Zone, each district having unique characteristics and dynamics, connected mutually through urban green infrastructure already marked by renowned international architects.
This is a project to put Pakistan on the map of a Global Business hub, he added. Lahore Chamber of Commerce and Industry Vice President Adnan Khalid Butt
Said that GSL will play an important role in the economy of Pakistan, where citizens, especially the youth aspire to developmental progress. Our urban population which constitutes 37 percent of the total volume in Pakistan contributes to over 60 percent of the country’s gross domestic product (GDP), he said.
This contribution may likely increase as Pakistan rides high on the wave of economic growth. GSL, in Urban groups, in the presence of central business districts (CBDs), office facilities, and business hubs, would help multiply benefits from this vast new opportunity.
The project in the surrounding economic activity areas will provide a suitable ecosystem and infrastructure for the income support of people.
All Pakistan Anjuman-e-Tajran (APAT) General Secretary Naeem Mir said the GSL in Lahore will play a vital role in business activity and economic growth while attracting investors and people seeking business and job opportunities.
This project in the presence of PCBDDA through its “Smart City Mission” will prove a catalyst to identify initiatives that would help take for the benefit of residents up, spread its impact across the province. The project would also support smart applications or smart solutions in routine.
Mir said that traders believe that the use of technology and modern infrastructure needs to be encouraged in the form of GSL for better systems and a conducive environment for economic growth in Pakistan to attract more capital and benefit local and international traders, investors, and residents.
The project will provide exceptional business openings by offering effective working, living, and playing spaces, courtesy quality, and urban design.
He said it will welcome a diverse range of minds and will respect all cultures, adding the natural environment will be protected with the provision of a modern scientific approach and innovative business initiatives.
The GSL would also help restore affordable access to public resources, empowering the business community that is the key ingredient towards sustainable development, Mir said.