CDA auction fetches Rs12.79b

Islamabad: The Capital Development Authority (CDA) continued to receive tremendous response from investors on the second day of the three-day auction of commercial plots located in the second phase of Blue Area on Thursday.

So far the auction committee headed by Member Finance has fetched Rs12.79 billion accepting highest bids for eight commercial plots of large size in the prime location of the federal capital.

The auction committee followed up the auction of four plots for Rs7.25 billion with approving highest bids of Rs5.54 billion for another four plots on Wednesday.

The civic body is offering a total of 17 commercial plots to the developers during the three-day auction. “The response being shown by developers reflects confidence in policies of the Government and the CDA,” the CDA Chairman Aamer Ali Ahmed said.