CDA’s Plot Auction Receives Impressive Response From Investors
On the first day of a two-day auction in Islamabad, the Capital Development Authority (CDA) received an extraordinary reaction from investors as it auctioned 13 commercial plots for over Rs 20 billion.
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The CDA has put 29 properties up for auction; on the first day, the Jinnah Convention Centre successfully auctioned all 13 sites.
In its annual budget for the current fiscal year 2021-22, the authority had projected 20 billion rupees in revenue from this two-day auction, but it achieved this amount on the first day.
On the first day, according to the details, four commercial plots in I-8, two in G-10 Markaz, one in F-11 Markaz, two in I-12 Markaz, and four in Blue Area were auctioned off.
Being auctioned are commercial/shopping centre plots, as well as plots for hospitals, gas stations, hotels, residences, and shopping malls.
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In addition to other considerations, luring investors was aided by the prime minister’s package for the construction industry and the new policies of the municipal agency, which included a 10 percent discount on full payment and streamlined clearance of building designs, according to another official.
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