Graana.com
Islamabad: The Capital Development Authority (CDA) has achieved resounding success with the conclusion of a two-day auction for plots at the prestigious Capital Street Islamabad project. The event witnessed a robust response from investors, who eagerly participated in the auction organized by CDA. A total of 18 plots were successfully sold for a staggering sum of 3.82 billion rupees.
Capital Street Islamabad, spanning 27 acres near Shakar Parian, adjacent to Pak-China Friendship Center, is set to be an illustrious commercial venture, following in the footsteps of renowned global projects such as JBR Dubai, City Walk Dubai, and Nizami Street Baku.
To cater to the flourishing food and beverage industry, CDA offered 500 square yard plots during the auction, which saw enthusiastic participation from both domestic and international food chains, restaurants, and bistros.
On the second day of the auction, 8 plots were sold, generating a significant revenue of 2.007 billion rupees. Notable among the auctions was Plot No.12, fetching an impressive Rs. 24.35 crore, along with Plot No.13, which was acquired for Rs. 20.35 crore.
Furthermore, Plot No.16 and Plot No.17 were successfully sold for Rs. 20.65 crore and Rs. 22.15 crore, respectively. The bidding fervor continued with Plot No.15, attracting a bid of Rs. 25.25 crore. Equally remarkable was the sale of Plot No.18 for Rs. 22.65 crore, Plot No.19 for Rs. 19.10 crore, and Plot No.20 for Rs. 22 crore.
It is noteworthy that the Capital Street Islamabad Plots project is specially designed to host a vibrant array of cafes, restaurants, bistros, and eateries. This strategic vision has drawn keen interest from industry players, resulting in the successful auction of 18 plots during the two-day event.
The auction proceedings were conducted under the vigilant oversight of the auction committee, led by the esteemed CDA Member Finance. Comprising other distinguished members, including Member State, Member Planning and Design, DFA-II, DG Law, Director Urban Planning, Director Regional Planning, Director State Management-II, and Director Finance, the committee ensured a transparent and well-managed auction process.
Bidders can now anticipate the results of their offers, which will be carefully scrutinized by the CDA Board—the competent authority to accept or reject the bids. With the momentum gained from this successful auction, Capital Street Islamabad is poised to become a dynamic and thriving hub, reflecting the capital’s global aspirations.
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