| Islamabad: The Capital Development Authority (CDA) recently conducted an auction of 9 plots located on Capital Street in Islamabad, covering a 27-acre area, as per the authority’s official Facebook post.
On the first day of the two-day auction, the civic authority successfully garnered a significant sum of PKR 1.82 billion. The auction, which commenced on July 20, will conclude today, July 21.
Read: Capital Development Authority (CDA) Has Bestowed 200 Plots To Officers
The ‘Capital Street’ project draws inspiration from successful models like JBR Dubai, City Walk Dubai, and Nizami Street in Baku and will be established at the Shakarparian Pakistan-China Friendship Center. Spanning 50 plots, each measuring 500 square yards, the project aims to accommodate cafes, restaurants, and bistros.
During the first day of the auction, the project received an enthusiastic response from investors. The details are as follows:
Plot number 1 was sold for PKR 208.5 million
Plot number 2 was sold for PKR 198.5 million
Plot number 3 was sold for PKR 168.5 million
Plot number 4 was sold for PKR 165 million
Plot number 5 was sold for PKR 179 million
Plot number 6 was sold for PKR 153 million
Plot number 7 was sold for PKR 266.5 million
Plot number 10 was sold for PKR 265 million
Plot number 11 was sold for PKR 230 million
Read: CDA shares auction date for plots on Capital (food) Street Islamabad
Heading the auction committee, CDA Member Finance, along with other committee members, including Member Estate, Member Planning and Design, DFA-II, DG LDA, Director Urban Planning, Director Regional Planning, Director Estate Management-II, and Director Finance, are closely overseeing the auction process. The received bids will undergo thorough examination and scrutiny before being presented before the CDA Board, the authorized forum for accepting or rejecting the bids.
The ongoing auction is a testament to the strong interest and investment opportunities in the development of Capital Street, Islamabad. |
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