22 plots sold: CDA coffers get richer by Rs7.48 billion

Islamabad: Capital Development Authority (CDA) auctioned 22 plots worth over Rs7.48 billion as final outcome of the grand auction on the conclusion of the three-day auction of commercial plots held at the Jinnah Convention Centre, says a press release.

Auctioned plots are Industrial, commercial, Apartments, petrol pumps of Marakaz, Class-III Shopping Centre, Orchard and Community Core. Business man community presented bids with enthusiasm in the environment of healthy competition to get their favourite plots. The participants and observers appreciated the auction in which the arrangement of CDA and Auction Committee conducted the auction process is an efficient, open and transparent manner.

On third day of auction, Kahuta Triangle Industrial plot no. 239, size 3333.33 sq yd, was auctioned at the rate of Rs21,000 per sq yd and plot no. 11-A, Diplomatic Enclave of Apartments size 4000 sq yd, bid out at the rate of Rs200,000 per sq. yd and plot No.2-E, Class-III Shopping Centre, sector I-14/4 measuring size 133.33 sqyd was bid out at the rate of Rs220,000 per square yard.

An eleven 11 member committee headed by Member Finance, CDA Dr. Fahad Aziz supervised the auction proceedings. Member Estate, Member Planning & Design, Dy. D.G (Law), Director Public Relations, Deputy Financial Advisor-II, Director (UP), Director (RP), Director Housing Societies, Director Estate Management-II and Deputy Director (Finance) of CDA were the members of the committee. Results of the auction will be presented before CDA Board for approval. CDA Board is competent to accord approval to successful biddings.