CDA to Auction Plots for Shakarparian Food Street in Islamabad
The dates for the public auction of 1-kanal-sized plots for eateries, cafes, and restaurants for Capital Street Islamabad, which would be built in Shakarparian, have been released by the Capital Development Authority (CDA).
The Capital Street Islamabad would be fashioned after well-known pedestrian malls like Nizami Street Baku, City Walk Dubai, and JBR Dubai.
Read More: Islamabad to Get Brand New Food Street Like Dubai & Baku Soon
Details indicate that the open auction will take place on July 20 and 21. At the Jinnah Convention Centre in Islamabad, the public auction will take held. There will be 20 500 square yard plots available for purchase.
The open auction is open to food enterprises that are registered with the relevant authorities. After completing all requirements, international food enterprises are also eligible to participate.
The CDA is providing a 10% discount on the total payment made within a month and an extra 5% discount if the payment is made in US dollars.
Brochures are now available from the CDA Facilitation Center’s Directorate of Estate Management II for potential investors. Additionally, the booklets are accessible on CDA’s website.
Read More: CDA Conducts Public Hearing on Plant Elimination and Restoration
Special initiatives for investors
- The authority approved tenders of Rs. 1 billion for the dedicated regeneration of the area.
- Infrastructure development and other facilities in the area will be uplifted within the next 6 months.
- Advance tax will be deducted on a pro-rata basis.
- 25% payment within 30 days of the acceptance of the bid.
- 1/3 area of the plot will be reserved for art and craft.
- Pedestrian boulevards and streets.
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