Islamabad, Feb 28: The Capital Development Authority (CDA) has successfully generated over Rs. 21.84 billion by auctioning 18 commercial plots of various categories in an ongoing four-day auction. The event has attracted significant investor interest, particularly on the third day, where five commercial plots were auctioned for Rs. 5.024 billion through intense bidding. Prior to this, the CDA had already amassed Rs. 16.82 billion in the first two days of the auction.
The final phase of the auction is set to take place on Friday, featuring the sale of constructed shops in the Blue Area Parking Plaza. Among the notable transactions, Plot No. 25-B in Sector G-11/1 fetched Rs. 2.794 billion, while Plot No. 5 in Sector G-9/2 was sold for Rs. 246 million. Additionally, three plots in I-14 Markaz—Plot No. 3-E, 3-D, and 3-C—each secured Rs. 661.3 million, contributing to the impressive total revenue generated on the third day.
The entire auction process is managed by the CDA Auction Committee, which operates under the leadership of the Member Finance. Each bid undergoes a thorough evaluation before being forwarded to the CDA Board for final approval or rejection.
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CDA Chairman Muhammad Ali Randhawa emphasized that the funds raised through this auction will be allocated towards the city’s development projects. The revenue will be utilized to enhance infrastructure, improve public facilities, and beautify Islamabad. This strategic investment is expected to contribute significantly to the capital’s urban growth, making it more attractive for businesses and residents alike.
The enthusiastic participation of investors reflects strong confidence in Islamabad’s real estate sector, reinforcing the city’s reputation as a prime commercial hub. With the final phase approaching, expectations remain high for further substantial investments.
The CDA’s auction initiative underscores its commitment to sustainable urban development, ensuring that the capital continues to evolve as a modern, well-planned metropolis. As the event nears its conclusion, stakeholders eagerly await the final results, anticipating further contributions to the city’s progress.
