CDA coffers get richer by Rs11.2b

Islamabad

The three-day auction of commercial and residential plots conducted by the Capital Development Authority (CDA) would fetch over Rs11.2 billion, the most successful bidding exercise so far.

During the three-day auction, the auction committee headed by  Member Finance Dr. Fahd Aziz, total of 31 commercial plots received offers of Rs 11 billion while residential plots on Tuesday were auctioned for Rs 500 million.

The highest bids accepted by the auction committee, however, are subject to approval by the CDA Board headed by CDA Chairman Sheikh Anser Aziz.

The plots which were offered for auction included commercial plots in class three shopping centres of F-6/2, F-8/3, G-10/3, G-11/2 and G-11/4.  Two plots in Blue Area measuring 2666.67 square yards each were also auctioned for Rs2.4 billion Rs2.32 billion respectively.

The petrol pumps plots in G-11 Markaz, Bahria Enclave-I and phase-II also fetched around Rs one billion while a plot of area 28 kanals in Orchard Scheme received highest offer of Rs226 million. 

CDA chairman and Islamabad Mayor Sheikh Anser Aziz has expressed his pleasure over successful auction of commercial plots observing that it was the most successful bidding exercise in 57-year history of Islamabad. He said the amount to be received from auction would be spent on development projects in the federal capital.