| Islamabad: The Capital Development Authority (CDA) shared the details on the 3-day auction of commercial plots held from May 29 to May 31, according to news published in the national dailies on June 1.
Read: CDA shares details on upcoming commercial plots’ auction
As per the details, the authority was able to auction 17 out of 45 commercial plots, which generated revenue of PKR 19.35 billion. It was shared that investors showed less interest than expected in the auctioning of commercial plots in the lucrative areas of the capital city.
The auction committee accepted the highest bid of a little over PKR 820 million for a petrol pump spanning 2,222.22 square yards in Markaz D-12. The highest bids of the plots are subject to approval from the CDA Board, which will meet soon. The following are some of the details of the auctioned plots:
A plot spanning 4,888.88 square yards in Blue Area (G-6/F-6) was auctioned for PKR 7.8 billion
A plot covering 700 square yards fetched PKR 1.7 billion
A petrol pump in Sector H-9 was auctioned for PKR 3.35 billion
Read: CDA issues reminder of upcoming commercial plots’ auction
The CDA decided to hold an auction of plots in order to generate money to spend on ongoing and new development projects. |
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