Zubair Qureshi
Capital Development Authority received record bids amounting to Rs27 billion during historic 3-day auction of commercial plots by Capital Development Authority (CDA) concluded at Jinnah Convention Centre on Wednesday.
During these days, CDA collectively received bids amounting to Rs27 billion against 16 plots.
On the first day of auction CDA received bids amounting Rs3.5 billion against 5 plots; on the second day bids amounting to a whopping amount Rs15.5 billion against 9 plots and on the third day of auction (Wednesday) CDA received bids amounting to Rs8 billion against two plots.
According to a spokesperson of the authority CDA has broken its own record of receiving the highest bidding in a single auction in July this year (Rs17 billion) during the auction of commercial plots.
The ever-increasing response of investors in the auction held by CDA reflects ever increasing confidence of investors in the policies of the Prime Minister for promotion of the construction industry being followed by the CDA.
The three-day auction proceedings witnessed enthusiastic competition among bidders for plots. During first day of CDA received bids for plots from Diplomatic Enclave, G-9 Markaz and I-8 Markaz, On second day of auction received bids against plots from Blue Area, Sector G-11/3, Diplomatic Enclave, F-10, Industrial Triangle Kahuta, Orchard Scheme and Industrial area I-10/3. On the third day of auction CDA received bids for plots from I-14 Class 3 shopping centre and Blue Area.
The Capital Development Authority offered Commercial plots from different developed business centres of Islamabad for auction. Alongwith New Blue Area, plots from G-10 Markaz, I-8 Markaz, Diplomatic Enclave, F-10 Markaz, Industrial Triangle Kahuta and various class-III shopping centres including G-9/1,G-9/2,G-10/3,G-11/4 and I-11/4 were selected for auction.
The spokesperson further said that a 10-members committee headed by Member Finance CDA supervised the proceedings of auction. Member Estate, Member P & D, DFA-II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director EM-II and Director Finance are members of the committee. CDA Board will give final approval of the biddings.
