Int’l auction of two 5-star hotels to be held on Dec 17
Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa on Thursday chaired a meeting to discuss the open auction of premium commercial plots designated for the development of 5-star hotels, as well as the upcoming launch of residential plots in Sector C-14. The meeting was attended by CDA members and the relevant senior officers.
During the meeting, Chairman CDA was briefed on two luxury hotel plots that have been offered for international auction, specifically targeting overseas Pakistani and investors. It may be noted that the bidding process for the hotel plots is set to conclude on December 17, 2024.Chairman CDA was also briefed on the terms and conditions for both the hotel plots and upcoming balloting of residential plots in Sector C-14. It was highlighted that the CDA Board has recently approved flexible and investor-friendly terms and conditions aimed at facilitating the maximum participation. The recent initiatives introduced by CDA include easy payment plans, flexible terms and conditions as well as various incentives to encourage local and overseas Pakistanis.
Randhawa expressed his strong support for these initiatives, describing them as part of a strategic vision to attract substantial investments in Islamabad. He stated that these steps would position Islamabad as a global hub for tourism, business and modern urban living.The Chairman CDA also emphasized the need to create a conducive environment for high-end user and investors, with a particular focus on attracting investment from overseas Pakistanis. He directed the CDA to adopt a comprehensive strategy for engaging the overseas Pakistani, including active involvement of Pakistan’s embassies and missions abroad, to spread awareness about the auction process and investment opportunities in Islamabad.
In addition to the commercial plots, the meeting discussed the upcoming launch of residential plots in Sector C-14, which is strategically located at the foothills of the scenic Margalla Hills. This sector is designed to offer a premium, peaceful lifestyle and will cater to overseas Pakistanis and local Pakistanis. Preference will be given to overseas Pakistanis investing in foreign currencies (USD).
Chairman Randhawa reaffirmed CDA’s commitment to creating investment opportunities for both local and overseas Pakistanis, ensuring that Islamabad emerges as a leading destination for luxury and modern developments.
