CDA fetches Rs15.5 billion from auction of nine plots

Islamabad : Capital Development Authority (CDA) received even more enthusiastic response from investors on second day of auction of commercial plots.

On second day, CDA received bids against nine plots amounting to Rs15.5 billion, spokesman for CDA said.

On first day of the auction, the CDA received bids amounting to Rs3.5 billion against five plots. Collectively, during two days of auction proceedings, the Authority has received bids amounting to Rs19 billion against 14 plots.

The auction proceedings will continue on final day on Wednesday of three days auction of commercial plots.

The spokesman said the receipt of bids with Rs19 billion during two days against 14 plots testifies confidence of investors in policies of Capital Development Authority in line with policies of the government. The received bids will be presented before CDA Board for final approval.

On Second day, plots from Blue Area, Sector G-11/3, Diplomatic Enclave, F-10, Industrial Triangle Kahuta, Orchard Scheme and Industrial area I-10/3 received bids from investors.

On day one of auction the investors gave bidding for plots in Diplomatic Enclave, G-9 Markaz and I-8 Markaz. Capital Development Authority has started Commercial plots from different developed business centres of Islamabad for ongoing auction. Along with New Blue Area, plots from G-10 Markaz, I-8 Markaz, Diplomatic Enclave, F-10 Markaz, Industrial Triangle Kahuta and various class III shopping centres including G-9/1,G-9/2,G-10/3,G-11/4 and I-11/4 have been selected for auction. The auction proceedings will conclude on Wednesday, September 23, 2020.

A 10-member committee headed by Member Finance CDA is supervising the proceedings of auction. Member Estate, Member P & D, DFA-II, DG Law, Director Public Relations, Director Urban Planning, Director Regional Planning, Director EM-II and Director Finance are members of the committee.