Central Business District Punjab (CBD Punjab has confirmed the launch of the Grand Souq Lahore (GSL) on the Ferozepur Road in the provincial capital to foster local and national business growth.
The Grand Souq Lahore will be constructed on the 68-kanal area at the Rescue 1122 Academy in Lahore’s LOS area. The project aims at facilitating and empowering the local business community, according to the CBD Punjab spokesperson. The project construction would be drawing inspiration from architectural marvels in Dubai and Turkey, and will be crafted to meet global standards.
The spokesperson said that CBD Punjab has introduced an accessible installment plan for interested stakeholders to further ease business operations. 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. Expressing his plans for the construction of mega project, CBD Punjab CEO Imran Amin said that that the local business community and investors serve as the backbone of the national economy.
He said that the Grand Souq Lahore will mark a significant milestone in empowering these enterprises while fostering economic growth. He said that the strategic location of GSL at LOS will ensure accessibility for visitors from key areas such as Ferozepur Road, Shadman, Icchra, and Samnabad. He said that the project was poised to transform the business landscape, providing a platform for local businesses, thriving and meet to diverse consumer needs.
Grand Souq by CBD Punjab stands as a beacon of lucrative investment opportunities, strategically positioned at the bustling commercial spine of Lahore – Main Ferozepur Road. This dynamic project is set to unfold a myriad of possibilities, offering a premium space for businesses… pic.twitter.com/FCYzvUPdOu
— Central Business District Punjab (@CBDPunjab) November 20, 2023
Exploring 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, the chief executive officer said.
He said that development shall also enhance vertical activity in surrounding areas, especially within the main markets, including Anarkali, Gulberg, and other commercial areas, with a boost in major business activity. He said the GSL project would be associated with CBD directly and development has been categorized into five districts – Commercial Zone, Digital District, Residential District, Entertainment and Government Zone. Having unique characteristics, each district connected through urban green infrastructure already marked by renowned architects.
He said that this (GSL) was a project to put Pakistan on the map of a global business hub. Lahore Chamber of Commerce and Industry Vice President Adnan Khalid Butt said that GSL will play an important role in the national economy, 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, adding that this contribution may likely increase as Pakistan rides high on the wave of economic growth.
In urban groups in the presence of central business districts (CBDs), office facilities, and business hubs, GSL would help multiply benefits from this vast new opportunity. In surrounding economic activity areas, this project will provide a suitable ecosystem and infrastructure for the income support of people. All Pakistan Anjuman-e-Tajran (APAT) General Secretary Naeem Mir said GSL in Lahore will play a vital role in business activity and economic growth while attracting investors and people seeking business and job opportunities.
He said that 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. He 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 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. Naeem Mir said that the project will welcome a diverse range of minds and will respect all cultures. He said the natural environment will be protected with the provision of a modern scientific approach and innovative business initiatives. Also, GSL would help restore affordable access to public resources, empowering the business community that is the key ingredient towards sustainable development, he said.