CBD Punjab’s Third Auction Raises Rs 6.55 Billion for Three Business Bay Plots
PCBDDA’s third commercial auction sold three Business Bay mixed-use plots for a combined Rs 6.55 billion, with BSM Developers and Zameen.com among the buyers.
Key facts
- Third commercial auction; total Rs 6.55 billion
- Business Bay 1: 8.73 kanals, FAR 1:16 — BSM Developers, Rs 2.32 bn
- Business Bay 2: 8.89 kanals — Zameen.com, Rs 2.15 bn
- Business Bay 3: 6 kanals — BSM Developers, Rs 2.80 bn
- Bidders included Enrichers Investment Group, Banu Mukhtar and Grand City
What happened
According to The Nation, CBD Punjab concluded its third auction of commercial plots on 24 May 2024, generating total revenue of Rs 6.55 billion — following two earlier successful auctions.
Three prime mixed-use commercial plots in CBD Punjab Business Bay went under the hammer, drawing bidders from across the country. Business Bay 1 (8.73 kanals, FAR 1:16) sold to BSM Developers for Rs 2.32 billion; Business Bay 2 (8.89 kanals) went to Zameen.com for Rs 2.15 billion; and Business Bay 3 (6 kanals) was also acquired by BSM Developers for Rs 2.80 billion. Other notable participants included Enrichers Investment Group, Banu Mukhtar and Grand City.
CEO Imran Amin welcomed the response, saying the outcome underscored trust in CBD Punjab as an investment destination and the authority’s commitment to developing a world-class business district.
A note on Business Bay vs Corporate Bay
These 2024 Business Bay plots are a different, earlier offering from the separately marketed CBD Corporate Bay office-tower plots — the two should not be conflated when comparing prices or availability.
Why it matters
At Rs 6.55 billion across three plots, this remains the benchmark result in CBD Punjab’s public auction history — the number against which later auctions are measured. The per-kanal math (roughly Rs 266m, Rs 242m and Rs 467m respectively) also shows how sharply FAR and positioning move values within a single auction.
Confirmed vs unconfirmed
Confirmed:
- Plot sizes, buyers, amounts and FAR figures as reported by The Nation on 24 May 2024.
Not yet confirmed:
- Subsequent development status of the three plots — not in the report.
Related on CBDPunjab.com
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This summary is paraphrased from the linked public source in our own wording. Reported claims are attributed to the original publisher.