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CDA Brings Rs 37 Billion by Auctioning of Commercial Plots

Islamabad: Capital Development Authority (CDA) auctioned 24 commercial plots for a record Rs 37.9 billion over the course of two days.

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On day one, 20 billion rupees worth of plots were auctioned off, and on day two, 11 more plots were sold for 17 billion rupees.

The auction was overseen by a committee led by the CDA member in charge of finance. The head of the authority, Amer Ali Ahmed, praised the committee’s effective actions in a news release.

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24 commercial plots in different developed sectors of Islamabad, including Blue Area and Diplomatic Enclave, were auctioned for Rs 37.9 billion on both days of the auction, according to a statement from the Capital Development Authority (CDA). The CDA administration has decided to use the amount received and to be received (as buyers of the plots are required to pay amounts in four installments within one year) from the auction to further accelerate the city’s development activities.

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