Islamabad: The Capital Development Authority (CDA) has raised over Rs. 21.84 billion through the auction of 18 commercial plots across various categories on the third day of its four-day auction event.
A significant number of investors participated, with five commercial plots sold for Rs. 5.024 billion on the third day alone. Previously, the auction had already secured over Rs. 16.82 billion in revenue. The final day, Friday (today), will see the auctioning of constructed shops in the Blue Area Parking Plaza.
As per auction details, Plot No. 25-B in Sector G-11/1 was sold for Rs. 2.794 billion, Plot No. 5 in Sector G-9/2 for Rs. 246 million, while three plots in I-14 Markaz—Plot No. 3-E, 3-D, and 3-C—were each auctioned for Rs. 661.3 million, collectively contributing over Rs. 5.024 billion to the total revenue.
The auction is being overseen by the CDA Auction Committee, chaired by the CDA Member Finance, and all bids will undergo a thorough review before final approval by the CDA Board. Chairman CDA, Muhammad Ali Randhawa, has stated that the revenue generated will be utilized for the development and beautification of Islamabad.
