CDA concludes four-day auction, accepts bids worth Rs23.4bn

By Muhammad Anis
March 01, 2025
A picture taken during a four-day auction of commercial plots by the Capital Development Authority (CDA) at the Jinnah Convention Centre on February 28, 2025. — Screengrab via Facebook@cda.isb.pk
A picture taken during a four-day auction of commercial plots by the Capital Development Authority (CDA) at the Jinnah Convention Centre on February 28, 2025. — Screengrab via Facebook@cda.isb.pk

Islamabad:The Capital Development Authority (CDA) has accepted the highest bids for 17 commercial plots and 15 shops, totalling Rs23.404 billion, during a four-day auction held at the Jinnah Convention Centre, which concluded on Friday.

On the final day of the auction, the committee, led by Member Finance, successfully auctioned 15 shops located in the Blue Area parking plaza, fetching Rs1.555 billion. Each shop offered to investors measures slightly over 490 square feet.

Earlier, the authority had auctioned 17 commercial plots of various categories in Blue Area, Marakiz, and shopping centres across different sectors, securing bids worth Rs 21.849 billion. However, the auction committee refrained from accepting the highest bids for some commercial plots due to lower-than-expected offers.

CDA Chairman Muhammad Ali Randhawa expressed satisfaction with the auction process, emphasizing that the revenue generated would be utilized for the beautification and development of Islamabad, as well as for addressing the city's basic infrastructure needs.