CDA auctions 5 commercial plots for Rs4.75b

Islamabad:The three-day auction of commercial plots under the aegis of the Capital Development Authority (CDA) kicked off on a success note on Monday. On the first day, the auction committee headed by Member Finance accepted highest bids for five commercial plots for Rs4.75 billion. A commercial plot measuring 700 square yards fetched Rs1.7 billion in F-7 Matkaz. Similarly, another commercial plot measuring 666.66 square yards received highest bid of Rs1.3 billion in I-8 Markaz.

The auction committee also accepted highest offer of Rs890 million of size 711.11 square yards in D-12 Markaz. A plot in G-9/2 meant for petrol pump of size 1227.76 square yards fetched Rs845 million while another commercial plot of 177.77 square yards in Markaz G-10 received maximum offer of Rs273 million. The highest offers accepted by auction committee, are subject to approval by the CDA Board. Auction Committee also comprises Member Plannig, Deputy Financial Advisor, DG Law Directors of Urban Planning, Estate Management Commercial and Director Finance.