ISLAMABAD - The four-day successful Open Auction of Commercial Plots, organised by the Capital Development Authority (CDA) has concluded.
During the four-day auction, 17 commercial plots of different categories and 15 shops of Blue Area Parking Plaza were sold for Rs. 23.404 billion.
On the final day of the auction, 15 constructed shops in Blue Area Parking Plaza were sold for over Rs. 1.555 billion. Chairman CDA Muhammad Ali Randhawa thanked the investors for their participation, stating that the participation of investors in a large number reflects their confidence in CDA. He assured that the revnue generated from the auction would be utilized for providing facilities to the residents of Islamabad including the investors.
He further emphasized that the participating investors are partners in the development of city and progress of the city. He added that improvements in the authority are being made in light of the suggestions of business community and investors. The auction was supervised by a committee headed by the CDA Member Finance, with the Director of Estate Management-II serving as the secretary. All arrangements for the auction were made by the Estate Management-II Directorate. The committee ensured transparency and a competitive environment for the auction. Chairman CDA commended the auction committee for successfully conducting a fair and transparent auction. During the four-day commercial plots auction various categories of commercial plots in developed sectors and Commercial Marakaz of Islamabad were offered for investment.
These included Blue Area, commercial marakaz, industrial plots, apartment plots, and commercial plots in Park Enclave. Additionally, Class-III shopping centers and ready-to-use shops in Blue Area Parking Plaza were also available for investment. The received bids will undergo a comprehensive review before being presented to the CDA Board, which holds the authority to approve or reject them.