The Lahore Development Authority (LDA) has decided to establish a major technology park on Ferozepur Road near the Arfa Karim Tower.
According to official sources, the decision was made after internal market research found that the nearly 119-kanal piece of land was suitable for information technology and related businesses.
LDA Chief Town Planner Asaduz Zaman told that the authority plans to use the land to develop a major technology and IT hub with private-sector investment. Commercial plots of various sizes will be developed and sold through auctions, while the project will include modern facilities such as a dedicated parking plaza.
The land was previously used for a fruit and vegetable market, which was later relocated to Kahna.
The LDA purchased the nearly 119-kanal plot from the Model Town Cooperative Housing Society in 1978 and later developed a fruit and vegetable market there. In 2011, the market was shifted from Ferozepur Road in Kot Lakhpat to Kahna to address serious environmental issues in the area.
During the relocation, the LDA paid more than Rs761 million in compensation to the owners of 103 shops for their structures, relocation and other expenses. The remaining land was acquired by the LDA under the Land Acquisition Act for Rs1.847 billion.
In December 2021, the LDA approved the allotment of the entire 119-kanal plot to the Specialized Healthcare Department for more than Rs2 billion for the construction of a hospital. However, the department failed to make the payment despite being granted an extension.
Although the land was reportedly handed over to the department, the payment was still not made. Later, in January 2023, the provincial government decided to allot 57 kanals of the land to the department free of charge for the construction of a 100-bed hospital. However, the project could not be completed.
Under the new Tech Park City plan, nearly 50 kanals of the total land have been allocated for commercial use, 1.12 kanals for public buildings, 6.17 kanals for parks and about 60 kanals for parking and roads.
The project will include commercial plots of 1, 8 and 15 kanals. Buildings up to 72 feet high, or ground plus five floors, and 90 feet high, or ground plus six floors, will be permitted.
The first auction of plots under the project is scheduled for Oct. 14. The remaining plots will be auctioned in 2027 and 2028.
The LDA expects to generate Rs13.566 billion from the plot auctions. It also expects to earn Rs45 million from the auction of lease rights for a gas station site and a food outlet.
LDA Director of Auctions Ali Bin Sohail said the project would help promote business activity in the information technology sector.
