Lahore Development Authority(LDA)generates Rs3.93b by auction, lease.
LAHORE: Lahore Development Authority (LDA) generated a sum of Rs3.93 billion by auction of proprietary as well as lease rights of its properties on Tuesday.
Eleven commercial and two residential plots located in various housing schemes of the LDA were auctioned for a total of Rs330 million while another three precious commercial plots situated in the planned business hub of international standard, Finance and Trade Centre, Johar Town, were auctioned for a sum of Rs3.16 billion. Tenancy rights of various properties were auctioned for a total of Rs444.9 million. This included the rental rights of three marquee sites located in Johar Town which were auctioned against Rs85 million per annum.