ISLAMABAD – The Capital Development Authority (CDA) has received a positive response from investors on the first day of the auction of commercial plots.
In the auction hall packed with investors, CDA auctioned five plots against an amount of Rs4.751 billion amidst enthusiastic competition among bidders.
The auction was held at Jinnah Convention Center Islamabad as part of three days auction of commercial plots which will conclude on Wednesday (tomorrow).
Capital Development Authority has started Commercial plots from different developed business centers of Islamabad for ongoing auction.
According to detail, on the first day of three days auction, F-7 Marka 700 square yard plot was auctioned for Rs1.7 billion and in the D-12 Markaz 711.11 square yards plot was sold for Rs890 million. While in G-10 Markaz 177.77 square yards plot auctioned by Rs270 million and in sector I-8 Markaz, a plot measuring 666.66 square yards was auctioned by Rs1.3 billion. In G-9/2 a petrol pump along with a plot measuring 1227.76 square yards were auctioned for Rs840.5 million.
A committee headed by Member Finance CDA is supervising 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.
The bids will be submitted to the CDA Board which is a competent forum for rejection and acceptance of the bids.