Muhammad Luqman

The Punjab government has launched the Central Business District project (CBD) in Lahore to give the city a futuristic look, with its modern infrastructure, sleek architecture, and state-of-the-art amenities, reports WealthPK.

When completed by the year 2030, this fully planned central business district with commercial and financial centers will help Lahore become the engine of growth like other metropolitan and cosmopolitan cities in the world that have dynamic CBDs. Midtown Manhattan in New York City is widely considered the world’s largest and most iconic central business district (CBD), known for its concentration of important businesses, office buildings, and landmarks.

Punjab government officials believe that CBD Lahore is not just about high-rises and business properties; it’s about rewriting the meaning of city structures in Pakistan. “We are working on a strategic large-scale master plan for an urban development that aspires to develop a commercial core area within the heart of Lahore,” said Chief Executive Officer of Punjab City District Development Authority (PCDDA), Imran Amin while talking to WealthPK.

In a bid to provide an enabling environment for the investors in the CBD, he said a state-of-the-art infrastructure is being developed, including roads and flyovers linking the district to the heart of the city and the peripheral areas. The infrastructure projects include remodeling the Kalma Underpass, Captain Karnal Sher Khan Shaheed Flyover construction, and the Walton Road upgrade.

“We have auctioned land plots to the investors, who will soon construct skyscrapers, towers, recreational parks, and other facilities,” the PCDDA chief said. The high-rises in the CBD will increase Lahore’s vertical development, making it a more densely populated and vibrant city. The CBD will incorporate smart city technologies, such as intelligent transportation systems, energy-efficient buildings, and advanced waste management.

Like Petronas twin towers of the Malaysian capital, Kuala Lumpur, Lahore’s CBD will have the iconic 40-story Pak Tower. Turning Lahore into a modern and progressive city, the CBD will attract businesses, tourists, and talent worldwide, the CBD chief said. He said PCDDA was drawing inspiration from global examples like the Dubai International Financial Centre (DIFC), the Malaysia Digital Economy Corporation (MDEC), and Singapore’s Urban Redevelopment Authority (SURA).

However, while acknowledging the importance of central business district in any megacity, the economists have some reservations about Lahore’s CBD. “Concentration of development in a particular part of the city will boost inequality, as only the rich class will benefit from the project,” Dr. Qais Aslam, a leading economist, said while talking to WealthPK. He said the government should design the project in a fashion that could ensure a trickledown effect on the poor strata of the society.

“There is no need for creating a tale of two cities in Lahore with an island of prosperity amidst an ocean of poverty and underdevelopment,” Dr. Qais Aslam said. He said a holistic approach was needed to ensure the participation of urban centers in the national development instead of launching cosmetic projects. Dr. Qais Aslam said that the project should ensure ample job opportunities for the educated youth so that the benefits should not go to only the super-rich segment of the society.

Credit: INP-WealthPk