CDA raises record Rs11.284 billion from estate auction

Islamabad: Capital Development Authority (CDA) on day four of the auction has raised a total of Rs5.981 billion from the sale of 15 commercial plots.

Generating a revenue of Rs1.024 billion from auctioning 25 residential plots on day one, Rs230 million from the sale of 13 residential plots on day two, Rs4.048 billion from eight commercial plots on day three and Rs5.981 billion from day four, CDA has raised a record revenue of Rs11.284 billion in the four-day auction.

Being the second auction for this fiscal year, CDA has cumulatively raised Rs18.76 billion which is nearly half of its entire budget for the financial year.

Income from the auction will be used for new development projects in the Capital, including the ones in progress, said CDA Chairman Amir Ali Ahmed.

The auction proceedings were successfully supervised by an auction committee headed by CDA’s finance member.

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