CDA fetches Rs27b from sale of 16 commercial plots

Islamabad : The Capital Development Authority (CDA) received record bids amounting to Rs27 billion during the three-day auction of 16 commercial plots that concluded here at Jinnah Convention Centre on Wednesday.

The authority followed up earning Rs19 billion on first two days with fetching Rs8 billion from the auction of two plots on the final day. Accordingly, CDA has broken record of receiving the highest bids in a single auction in July, earlier this year, receiving Rs17 billion during the auction of commercial plots.

The spokesman of CDA said that the ever-increasing response of investors in the auction held by CDA reflects ever-increasing confidence of investors in the policies of Prime Minister Imran Khan for promotion of construction industry being followed by CDA.

The three-day auction proceedings witnessed enthusiastic competition among bidders for plots. During the first day of CDA received bids for plots from Diplomatic Enclave, G-9 Markaz and I-8 Markaz, while on the second day of auction received bids against plots from Blue Area, Sector G-11/3, Diplomatic Enclave, F-10, Industrial Triangle Kahuta, Orchard Scheme and Industrial Area I-10/3.

On the third day of the auction, CDA received bids for plots from I-14 Class 3 shopping centre and Blue Area. Capital Development Authority offered Commercial plots from different developed business centres of Islamabad for 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 were selected for auction.

A 10-member committee headed by Member Finance CDA supervised the proceedings of the auction. Member Estate, Member P & D, DFA-II, DG Law, Director of Public Relations, Director Urban Planning, Director Regional Planning, Director EM-II and Director Finance are members of the committee. The CDA Board will give final approval of the biddings.