| Islamabad: Investors have shown significant interest in the ongoing four-day open auction organized by the Capital Development Authority (CDA) in Islamabad, according to news published on October 18. The auction, taking place at the Jinnah Convention Centre (JCC), is scheduled from October 17 to 20. The primary objectives of this auction are to increase revenue for the CDA and encourage active investor participation.
Read: CDA shares details on land retrieved from illegal occupants
On the first day of the auction, Plot 53F, covering 666.67 square yards in I-8 Markaz, was successfully auctioned for an impressive amount of PKR 1.42 billion. Additionally, Plot 53D, also situated in I-8 Markaz, was sold for a substantial sum, totalling PKR 1.09 billion. In total, CDA auctioned four plots for a sum of PKR 7.743 billion on the first day.
This four-day auction will also showcase plots in sought-after areas such as the Blue Area and the Northern Strip of E-11. Throughout the event, a variety of properties will be available for bidding, including Park Enclave Commercial properties, petrol pumps, and Class III shopping centres.
Read: CDA to pay cash for acquired land instead of BuP
The public auction will encompass a wide range of offerings, including agro-farms, apartments, and industrial plots. Furthermore, plots designated for fruit, vegetable, and meat shops in the I-11 markets will be available for sale. Notably, this auction marks the first inclusion of plots designated for hostels, enhancing its diversity and appeal to potential investors.
The proceedings of this auction are being overseen by a committee headed by Member Estate. The received bids will be scrutinized and approved by the authority board. |
|
