| Islamabad: The Capital Development Authority (CDA) has successfully wrapped up its three-day auction of 13 prime commercial plots, generating an impressive revenue of PKR 16.641 billion, as reported by a news source on October 4.
Read: CDA Auction Day 2: Strong investor response drives over PKR 12 bn property deals
As shared in the details, the auction concluded on a high note, with the final day alone contributing PKR 4.206 billion from the sale of 7 commercial plots. The auction took place at the prestigious Gandhara Citizen Club, with investors showing significant interest throughout the event. CDA Chairman Muhammad Ali Randhawa visited the site on the last day to address investors and ensure transparency in the process.
He assured that the proceeds from the auction would be directed toward enhancing urban infrastructure and improving facilities for citizens and investors alike. Randhawa also confirmed that the winning bids will now be presented to the CDA Board for formal review and final approval, marking another successful milestone in Islamabad’s development agenda.
Read: CDA Auction Day 1: Investors’ confidence fuels PKR 11 bn sales
During his address, Chairman Randhawa emphasised the authority’s commitment to reinvesting auction proceeds in the city’s development, particularly focusing on infrastructure, green spaces, and civic amenities. He reiterated the CDA’s dedication to attracting investors by offering premium opportunities in Islamabad’s thriving real estate sector.
With the auction proceeds set to boost city projects and improvements underway in waste management, Islamabad is poised for continued growth and development, cementing its place as a key hub for both investment and urban progress. |
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