Successful CDA Auction in Islamabad Raises PKR 12.90 billion in 4 Days

Islamabad: The four-day auction of residential and commercial plots under the Capital Development Authority (CDA) has concluded. A total of 25 plots from various categories were auctioned for a total value of PKR 12.90 billion.

On the final day of the auction, plots consisting of fruit, vegetable, and meat shops in different sectors were auctioned, including Sector F-8/4, where Plot No. 4 was sold for PKR 43.52 million and Plot No. 5 for PKR 45.19 million. Additionally, in Sector G-11/4, the fruit, vegetable, and meat shop plots, namely Plot No. 1, Plot No. 2, and Plot No. 3, were auctioned for PKR 19.67 million, PKR 20.34 million, and PKR 20.42 million, respectively.

Furthermore, in Sector F-10/2, a residential plot, covering an area of 555.55 square yards, was sold for PKR 183 million, and in Sector F-8/4, another residential plot of the same size (555.55 square yards) with Plot No. 6 was auctioned for PKR 255 million. Additionally, Blue Area’s Plot No. 7, spanning 611.11 square yards, was auctioned for PKR 1.033 billion.

The auction was conducted under the supervision of the CDA’s Chairman, who praised the transparency and successful organization of the public auction by the auction committee. The measures taken by the committee ensured that investors could participate actively and acquire plots according to their preferences.

It’s worth noting that the four days of auctioning offered a wide range of residential and commercial plots, attracting the attention of investors. Plots in various centers, including Blue Area, Sector E-11 Northern Strip, Park Enclave Commercial, Class Three Shopping Centers, Agro Farms, Apartments, and Industrial plots, were auctioned. Fruit, vegetable, and meat shops, along with plots for Alien Markets, were also part of the auction. Hostel-specific plots were auctioned for the first time, and residential plots were also part of the four-day auction.

The received bids will be thoroughly examined, and the CDA board will decide whether to approve or reject them, as the board holds the authority to finalize the bids.

The CDA administration emphasized that the revenue generated from the auction would be used to further accelerate the city’s development initiatives, particularly focusing on long-delayed development projects.

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