Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), successfully conducted the lease auction of two prime petrol station sites located in Pakistan’s largest and first IT city, CBD NSIT City, through an invitation of sealed bids.
CBD Punjab invited sealed bids for two strategically located plots designated for petrol station development on a lease basis. The auction included Plot F-12-02, measuring 5.38 kanals, with a reserve price of PKR 25 million per annum, and Plot F-02-02, measuring 6.77 kanals, with a reserve price of PKR 30 million per annum.
The auction proceedings were chaired by Special Secretary Housing, Urban Development and Public Health Engineering Department (HUD&PHED), Waqar Azim, alongside Chief Operating Officer CBD Punjab, Brigadier (R) Mansoor Janjua. Their presence underscored CBD Punjab’s commitment to ensuring transparency, fairness, and adherence to best governance practices throughout the lease auction process.
The event was also attended by senior officials of CBD Punjab, including Executive Director Finance Ali Nazeer Malik, Director Business Development & Investor Relations Ali Waqar Shah, Director Marketing Waseem Siddiq, Director Land & Estate Mutahir Mehmood, Director Procurement Jawad Ahmed, and Director Legal Ahmed Armaghan. The participation of these key officials further reinforced the credibility and transparency of the auction proceedings, reflecting CBD Punjab’s dedication to maintaining a robust and investor-friendly environment.
The invitation for sealed bids received an overwhelming response from prominent companies associated with Pakistan’s oil and gas sector, highlighting strong investor confidence in CBD Punjab’s development initiatives and the commercial viability of NSIT City.
Following the evaluation of bids, Plot F-12-02 was successfully leased to Sardar Muhammad & Sons, which submitted the highest bid of Rs 35 million per annum, significantly exceeding the reserve price. Plot F-02-02 was leased to Taj Gasoline at a bid value of Rs 30 million per annum.
Speaking on the occasion, COO CBD Punjab Brigadier (R) Mansoor Janjua stated:
“The successful lease auction of these petrol station sites through a transparent sealed bidding process reflects the confidence of investors in CBD Punjab’s vision and projects. NSIT City is rapidly evolving into a leading destination for technology, business, and commercial activities. We remain committed to providing transparent investment opportunities and developing world-class infrastructure that supports economic growth and sustainable urban development in Punjab.”
The successful lease auction further strengthens CBD Punjab’s commitment to creating a vibrant and investor-friendly business environment while accelerating the development of NSIT City as a premier destination for innovation, commerce, and modern urban growth in Pakistan.