Zubair Qureshi
The Capital Development Authority (CDA) received an even more enthusiastic response from investors on the second day of auction of commercial plots.
On Tuesday (the second day) of the auction, the CDA received bids against 9 plots amounting to Rs15.5 billion.
Plots from Blue Area, Sector G-11/3, Diplomatic Enclave, F-10, Industrial Triangle Kahuta, Orchard Scheme and Industrial area I-10/3 received bids from investors. On day one of auction the investors gave bidding for plots in Diplomatic Enclave, G-9 Markaz and I-8 Markaz.
On the first day of the auction, the authority had received bids amounting to Rs3.5 billion against five plots.
Collectively, during two days of auction proceedings, CDA has received bids amounting to Rs19 billion against 14 plots.
The auction proceedings will conclude on Wednesday (today) the final day of the three-day auction of commercial plots.
Receipt of bids with Rs19 billion during two days against 14 plots demonstrates confidence of the investors in policies of Capital Development Authority in line with policies of the government, said the CDA spokesperson adding the received bids will be presented before CDA Board for final approval.
In the ongoing auction, plots along New Blue Area, plots from G-10 Markaz, I-8 Markaz, Diplomatic Enclave, F-10 Markaz, Industrial Triangle Kahuta and various class III shopping centers including G-9/1,G-9/2,G-10/3,G-11/4 and I-11/4 have been selected by the authority.
A ten-member 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.
