| Islamabad: The Capital Development Authority (CDA) has announced plans to auction prime hotel plots in Islamabad’s Sector F-5 to address the growing demand for international-standard five-star hospitality facilities. Chairman CDA, Muhammad Ali Randhawa, shared the details during a meeting with a delegation of investors on Tuesday.
Chairman Randhawa emphasized the critical need for luxury accommodations in Islamabad to cater to increasing tourism, national and international events, and the city’s rising profile as a premier destination. He described the auction as a significant step toward expanding the city’s hospitality infrastructure and boosting its economy.
Read: CDA seeks overseas investment for prime hotel, residential auctions
The meeting highlighted two hotel plots, numbers 6 and 8, located in the prime Sector F-5 area, which offer opportunities for developing world-class hotels, commercial centers, and serviced apartments. These developments aim to support Islamabad’s business and tourism growth while enhancing its global appeal.
To encourage participation, the CDA has introduced investor-friendly terms, including:
Easy instalment plans with payments spread over two years
Possession granted upon 75% payment
A 10% discount for full upfront payment
Read: CDA to fully refund Neelor Heights fees for expats, sell C-14 plots
Investors were briefed in detail about the plots and provided a platform to share their suggestions for improving the auction process. Chairman Randhawa assured investors that their proposals would be reviewed, with viable ideas presented to the CDA Board for approval.
“This initiative is a golden opportunity for investors and a game-changer for Islamabad’s hospitality sector,” Chairman Randhawa remarked, reiterating CDA’s commitment to supporting investors and ensuring a seamless auction process.
The move is expected to significantly impact Islamabad’s hospitality industry by introducing state-of-the-art facilities, further solidifying its status as a hub for international business and tourism. |
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