Lahore District Real Estate News
and Property Updates

Lahore | ReNews Pakistan
Pakistan is moving to accelerate offshore oil and gas exploration with Türkiye as part of efforts to reduce its heavy dependence on imported energy and increase domestic production.
Federal Minister for Petroleum Ali Pervaiz Malik said Turkish Petroleum is preparing to begin offshore drilling operations in Pakistani waters. The Turkish company is also expected to bring a seismic survey vessel to Pakistan.
According to the minister, offshore drilling could begin in September or October, marking the revival of offshore exploration after a gap of nearly two decades.
Pakistan currently faces a wide gap between its oil demand and domestic production. The country requires around 500,000 barrels of oil per day, while local production is only about 70,000 barrels per day, according to the petroleum minister. The government wants to increase local oil and gas exploration to reduce this dependence on imports.
Offshore exploration requires major investment. Malik said drilling a single offshore well can cost around $100 million, while an earlier government briefing to the National Assembly indicated that the cost of an offshore well could exceed $120 million.
The government is also seeking to modernise Pakistan’s aging oil refineries so that more petroleum products can be produced locally and the need for imported fuel can gradually be reduced.
Malik said Pakistan expects companies to start signing refinery upgrade agreements worth around $5 billion from September. The government has also approved changes to the refinery policy to encourage local and foreign investment in the sector.
The government believes that increased domestic exploration, offshore drilling and refinery upgrades could strengthen Pakistan’s energy security. Successful oil or gas discoveries in offshore areas could also help reduce the country’s import bill and limit its exposure to changes in international energy prices over the longer term.

Lahore | ReNews Pakistan
Videos and posts circulating on social media are creating the impression that Lahore has completely abolished all old property files and Fard records following the introduction of a new property certificate system.
According to a public notice available on the official Lahore Development Authority website, a Property Certificate issued through the Punjab Land Records Authority became mandatory from July 1, 2026 for property transactions in housing schemes falling under the LDA framework.
The rule concerns the system used for buying and selling property in the relevant housing schemes. It should not be interpreted as an announcement that every old property record, Fard or registry document in Lahore has automatically ceased to exist.
The Punjab Land Records Authority continues to provide a Fard issuance service through its official system. PLRA describes Fard as a verified ownership record and allows citizens to obtain it through Arazi Record Centres and online services.
PLRA also continues to provide access to old electronic registry documents through its Registration of Deeds system. The continuing availability of these services shows why claims that all previous property records have simply been abolished need important context.
The Property Certificate itself is intended to provide verified information about property ownership and legal status. PLRA says the certificate is designed to make ownership records more secure, transparent and verifiable.
Actual Rule: From July 1, 2026, a PLRA Property Certificate is required for property transactions in housing schemes regulated by LDA. This does not amount to an announcement that all historical Fard, registry and ownership records have been erased.
Property buyers should therefore verify the status of a housing scheme and its ownership documents through the official LDA and PLRA systems instead of relying solely on viral social media videos or posts.

Lahore : ReNews Pakistan
Construction has begun on "Elevation", a new commercial project spread over 13 kanals in Lahore’s Liberty Market, with plans for more than 500 retail units, parking facilities and supporting infrastructure.
Real estate developer The Vertical formally launched construction after holding a groundbreaking ceremony for the project. The company has set a target of completing the development within one year.
The ceremony was attended by investors, business representatives, construction industry professionals and prospective buyers. Details regarding the project and its proposed construction schedule were also shared during the event.
According to information provided by the developer, Elevation is being built on approximately 13 kanals and will comprise more than 500 commercial shops. The project is also planned to include parking, basic urban facilities and infrastructure required to support commercial activity.
The company claims that more than 70 percent of the commercial units have already been booked before completion of construction. However, details regarding the total project cost, prices of different categories of shops and the overall built up area were not specified in the information released by the developer.
Liberty Market is one of Lahore’s busiest commercial districts, with significant daily activity generated by retail outlets, clothing stores, restaurants and other businesses. The addition of a development containing more than 500 commercial units could increase business activity in the area while also placing additional demands on traffic management, parking and surrounding urban infrastructure.
For large commercial developments, factors such as parking capacity, entry and exit points, traffic circulation, fire safety, emergency exits and approvals from relevant government authorities are also considered important. Detailed technical information relating to these aspects was not included in the material released about the project.
Speaking at the ceremony, The Vertical Chief Executive Officer Mutayyab Siddiqui said the company was focusing on improving planning and construction standards and that Elevation was being developed as part of that approach.
The developer has previously worked on several commercial projects, including V One, V Two, V Three and The Grand Vertical, while Elevation and V6 are also part of its development portfolio.
Construction of Elevation comes at a time when organised commercial and mixed use developments are increasingly being introduced alongside traditional markets in major areas of Lahore. The completion of a project of this scale in Liberty Market would add a substantial amount of commercial space to the area, although its overall impact will depend on timely completion, parking and traffic arrangements, regulatory approvals and the capacity of surrounding urban infrastructure.