LAHORE DIVISION

Lahore | ReNews Pakistan Members of Nishat Chunian Limited have approved the voluntary winding up of Nishat Chunian Properties Private Limited, a wholly owned subsidiary of the company. The approval was granted through resolutions passed at an Extraordinary General Meeting. According to the company, the meeting was held on June 29, 2026, at 11:00 am at its registered office located at 31 Q, Gulberg II, Lahore. The resolution was approved under sections 347(b), 183(3)(b), 199 and other applicable provisions of the Companies Act, 2017, subject to the required approvals. The members also approved the disposal and sale of freehold land measuring 8 kanals, 7 marlas and 155 square feet, situated at Block K, Gulberg II, Lahore. The land will be distributed to Nishat Chunian Limited after the liquidation or voluntary winding up of Nishat Chunian Properties Private Limited. The approval for the sale of the land was granted under Section 183(3)(a) of the Companies Act, 2017. Under the resolution, the Board of Directors has been authorised to finalise and complete the sale of the land on terms and conditions it considers appropriate and in the best interest of the company and its shareholders, including securing the best available market price. The board has also been authorised to delegate any of its powers related to the transaction to the Chief Executive Officer or any other authorised person. The authorised person may conduct negotiations, obtain offers, enter into agreements, execute documents and take all necessary steps to implement and complete the sale of the land. The company’s Chief Executive Officer, Chief Financial Officer and Company Secretary have also been authorised, singly or jointly, to take all necessary steps to give effect to the resolutions, including filing required forms and applications with the Securities and Exchange Commission of Pakistan. The resolutions further state that any amendments, modifications, additions or deletions required, directed or advised by the SECP will be deemed incorporated without requiring fresh approval from the members.

Lahore | ReNews Pakistan The Punjab government has introduced a major reform in the land record system, announcing that from July 1, 2026, no sale, purchase, transfer or any other transaction of land and property will be allowed across the province without a Green Property Certificate. Under the new policy, the Green Property Certificate is being given legal status in place of the Fard for Sale and other traditional documents to make property transactions safer, more transparent and free from fraud. According to the Punjab Land Records Authority and the Board of Revenue Punjab, the main objective of introducing the Green Property Certificate is to ensure complete protection of citizens’ property ownership and rights, eliminate issues such as forgery and double sale, and promote a modern digital land record system. Punjab Land Records Authority Chairman Tariq Subhani said that historic reforms of this nature are being introduced for the first time in the 486 year old land system, which will significantly improve transparency, trust and legal protection in property transactions. He said that under the direction of Punjab Chief Minister Maryam Nawaz Sharif, a modern, secure and public friendly land record system is being introduced in the province. He said the Green Property Certificate is a modern digital document that verifies not only the ownership of a property but also its possession, helping reduce the risk of legal disputes and fraud during sale and purchase. The Punjab government has fixed the fee for the Green Property Certificate at Rs 950 for public convenience. Citizens can visit their nearest land record centre and submit the required documents, after which the certificate is issued upon completion of the verification process. Authorities have urged citizens to obtain the Green Property Certificate for their properties before July 1 to avoid any difficulty in future legal transactions involving land or property.

Lahore | ReNews Pakistan The Punjab Central Business District Development Authority (CBD Punjab) has officially launched registrations for authorised sales partners for its flagship Celestia IT and Office Tower, following the successful completion of the project's grey structure. The initiative is aimed at expanding the project's market reach while creating new business opportunities for Pakistan’s real estate industry. CBD Punjab has invited marketing firms, real estate agencies, property consultants, independent sales professionals and channel partners from across the country to join the sales partnership programme. The authority stated that registered partners will play a key role in promoting one of Punjab’s most ambitious commercial developments and connecting investors with premium business opportunities. Celestia IT and Office Tower is strategically located adjacent to DHA Phase 6 and Phase 7 in Lahore and forms a major component of CBD NSIT City, a modern technology and commercial district being developed to attract local and international investment. Designed as a state of the art IT and business hub, the tower will offer premium office spaces supported by a central HVAC system, a digital façade, advanced building management systems and modern commercial infrastructure tailored to the needs of technology companies and corporate businesses. According to CBD Punjab, construction has entered the finishing phase, with interior and external works progressing rapidly. The authority believes the project is now well positioned to attract businesses, multinational companies, technology firms and investors seeking high quality office space in one of Lahore’s fastest growing commercial corridors. CEO CBD Punjab Imran Amin said the completion of the grey structure marks an important milestone in the development of Celestia IT and Office Tower. He stated that the project reflects CBD Punjab’s vision of delivering world class commercial infrastructure capable of attracting investment, encouraging innovation and supporting the province’s digital transformation. He added that the newly launched sales partnership programme provides Pakistan’s leading real estate professionals with an opportunity to participate in a landmark commercial development while generating long term value for investors. He also expressed confidence that the initiative would contribute significantly to the continued growth of NSIT City as a leading technology, innovation and business destination in Pakistan. CBD Punjab expects the project to strengthen Lahore’s commercial real estate market by providing modern office facilities that meet international standards while supporting economic growth, technology driven businesses and future investment in the province.