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Investors see lack of high-rise culture in Lahore

2019-05-03
LAHORE: Leading Karachi-based builders have expressed their apprehensions over the success of high-rise projects as they say Lahore lacks this culture due tolack ofinterest of the people in such structures.

They also asked the Lahore Development Authority (LDA), in particular, and Punjab`s public and private sectors, in general, to encourage such projects in the provincial capital.

`They (Karachi-based investors) have shown interest in launching high-rises in Lahore along the lines of Prime Minister Imran Khan`s vision of vertical growth in Lahore,` LDA Vice-Chairman SM Imran told Dawn af ter a delegation of a Karachibased Association of Builders and Developers (ABAD) visited the LDA complex on Thursday and held an important meeting with senior of ficials.

`They`re of the view that how they would be able to sell their projects since Lahore has no culture of such projects.

Lahore have no high rise structures as in Karachi, as the only tallest building that exists in the metropolis is the 17-storey Arfa Karim Tower. Various floors of highrises have yet to see their buyers.

Recently, a leading home appliances company has announced constructing a 45-storey building in Johar Town`s Finance & Trade Centre.

`We`ve told them that highrises should not be limited to residential units alone; instead, such buildings could be of hotels, offices, malls, entertainment units etc.

We`ve also assured them of full support asper laws, like we may allot them plots on reasonable prices through open auctions and other legal ways. They agreed and they will assess the success of their intended projects,` Mr Imran explained.

As the government wants Lahore`s growth vertically, it is introducing various amendments to rules and regulations to facilitate and encourage the construction of highrise. For the last six months, extensive exercises to stop horisontal growth of the city has been done by the LDA`s strategic policy unit, vice-chairman office and town and metropolitan planning wings.

Mr Sheikh said that during briefing, ABAD found LDA`s rules and regulations encouraging to highrises` constructions.

He said it was necessary to stop horizontal growth gradually if we wanted to promote highrise culture in Lahore. At present, 40 per cent of the plots in several housing schemes are vacant. The LDA wants to first get them occupied and side by side controlling growth in horizontal way.

`We`re also making separate rules and regulations for apartments` construction and zones dedicated for high rises,` he said.

Meanwhile, ABAD`s delegation, headed by Muhammad Hasan Bakhshi, discussed variousissues.

At a briefing to the delegation, LDA`s water engineering specialist Riaz Hussain explained LDA building rules, designated sites for highrises, opportunities, challenges, policy and planning framework etc.-Khalid Hasnain