Islamabad: The Capital Development Authority (CDA) conducted its first day of auctions for commercial plots, drawing significant investor participation and fierce competition. The initial day saw a total of 7.796 billion rupees worth of plots being auctioned, with bidding continuing until January 12th at the Gandhara Center, F-9 Park.
Commercial plots auctioned on the first day included Blue Area’s Plot No. 9, sold for 4.453 billion rupees, and Plot No. 53H in I-8 Sector, fetching an impressive 1.46 billion rupees. Additionally, Plot No. 53F in I-8 Sector was auctioned for 1.15 billion rupees, while Plot No. 9A in I-14 Sector was sold for 653 million rupees. The overall auction featured a diverse range of commercial plots in Islamabad’s prime development hubs.
The auction is being supervised by the Auction Committee headed by CDA Member Finance whose Secretary is Director State Management-II. Other members of the committee are Member State, Member Planning and Design, Member Technology Digitalisation, DFA-II, DG Law, Director Urban Planning, Director Regional Planning, Director Public Relations and Director Finance.
The auction will continue on January 11th and 12th, 2024, at the Gandhara Citizen Center, F-9 Park, Islamabad. The received bids will undergo thorough scrutiny before being presented to the CDA Board for final approval or rejection, serving as the authorized forum for acceptance or refusal of bids.
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