CDA Auctions The Most Expensive Plot in Islamabad’s History
The Capital Development Authority (CDA) has successfully auctioned off the most expensive plot in its history, according to Captain (r) Muhammad Usman Younis, former Chairman of the CDA and Chief Commissioner.
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Usman stated on Twitter that the CDA received Rs. 8.54 billion from the sale. Usman praised the CDA, saying that by auctioning four plots, the authority raised Rs. 11.95 billion.
CDA just auctioned Islamabad’s most expensive plot in its history with price of more than 8.54 billion. Total 4 plots sold so far for an amount of 11 Billion 95 Crores. Keep it up team CDA.
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023
The CDA hoped to raise Rs. 20 billion from the auction of 47 plots, including commercial, orchard, poultry, and vegetable plots, earlier this week.
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Usman noted in a related tweet that the auction has gotten off to a great start. Two plots in I-14 Markaz sold for a total of Rs. 1.3 billion. He went on to say that another plot in I-8 Markaz, with a reserved price of Rs. 1.2 billion, will most likely be auctioned off for Rs. 1.5 billion.
CDA auction has taken a very good start. Two plots in I-14 Markaz sold for Rs 1.3 Billion combined. Another plot of I-8 Markaz with reserved price of 1.2 Billion likely to end up at 1.5 Billion.
Good going team CDA. Keep up the good work. #CDAAuction #CapitalDevelopment
— Muhammad Usman Younis (@CaptainUsman) January 24, 2023
Independently, Captain (r) Muhammad Usman Younis, a BS-20 officer of the Pakistan Administrative Service (PAS), was relieved of duty yesterday due to a conflict of interest between a powerful businessman and a local politician.
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Since August of last year, he has served as Islamabad’s Chief Commissioner and Chairman of the CDA. Yesterday, the Cabinet Secretariat issued a notification directing him to report to the Establishment Division immediately.
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