Islamabad, Feb 26: The Capital Development Authority (CDA) experienced a surge in investor participation on the first day of its four-day auction, securing over Rs. 15 billion through the sale of seven commercial plots. According to CDA officials, the total revenue generated from the auction amounted to Rs. 15.694 billion. Successful bidders will make payments under a two-year installment plan.
Among the prime properties auctioned, Plot No. B-1 in I-8 Markaz attracted the highest bid of Rs. 3.34 billion. Additionally, Plot No. 4-B in G-8 Markaz was sold for Rs. 780.99 million, while Plot No. 4-C in the same sector fetched Rs. 690.99 million. Plot No. 10 in G-9 Markaz secured Rs. 1.071 billion, whereas Plot No. 11 and Plot No. 12 in Blue Area G-8 were auctioned for Rs. 3.466 billion and Rs. 4.199 billion, respectively. Another significant sale included Plot No. 13-X in F-7 Markaz, which went for Rs. 2.12 billion.
CDA Chairman Mohammad Ali Randhawa highlighted that the funds generated from the auction will be allocated to infrastructure development and city beautification projects. He emphasized that these improvements would enhance the capital’s urban landscape and boost investment opportunities. The auction, currently being held at the Jinnah Convention Centre, is scheduled to continue until February 28.
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Historically, CDA has relied on plot auctions to finance development and operational expenses. However, experts suggest that diversifying revenue streams could strengthen the authority’s financial position in the long term. Exploring sustainable funding options, such as public-private partnerships and real estate leasing models, could reduce dependency on periodic land sales.
With increasing investor confidence and strategic urban planning, CDA aims to transform Islamabad into a more modern and investor-friendly metropolis. The authority remains committed to implementing initiatives that attract both local and international investments, ensuring steady economic growth and enhanced civic amenities for residents.
