| Islamabad: The Capital Development Authority (CDA) has shared the dates for an open auction of 1-kanal-size plots dedicated to eateries, cafes, and restaurants in the Capital Street Islamabad, which will be constructed in Shakarparian, a news source reported on July 12.
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As per the details, the open auction will feature 20 plots of 500 square yards each and is scheduled to take place on July 20 and 21 at Jinnah Convention Center in Islamabad. Eligibility for participation in the open auction extends to food businesses registered with the relevant authorities. Furthermore, international food businesses are also welcome to partake after completing all necessary formalities.
Moreover, the CDA is offering a 10% rebate on the total payment if made within one month of the auction, along with an additional 5% rebate for payments made in USD.
Prospective investors can now obtain brochures from the CDA Facilitation Center, Directorate of Estate Management II, starting today. The brochures are also conveniently accessible on the official website of the CDA. To encourage investment, the CDA has introduced several special initiatives:
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A dedicated budget of PKR 1 billion has been approved for the area’s regeneration
Within the next six months, infrastructure development and other essential facilities will be improved in the vicinity
Advance tax will be deducted on a pro-rata basis
A 25% payment is required within 30 days from the acceptance of the bid
1/3 of the plot area will be reserved for art and craft activities
Pedestrian boulevards and streets will be integrated into the project to enhance walkability |
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