ISLAMABAD, Oct 18 (APP): Capital Development Authority (CDA) has generated over Rs 10.94 billion by auctioning eight plots in the past 48 hours, earning acclaim from investors.
The auction of plots will continue on Thursday and Friday (October 19 and 20), at the Jinnah Convention Centre in Islamabad.
On the auction’s second day, Plot No 1, spanning 355.55 square yards in Sector G-6/1-1, fetched a sum of Rs. 602 million. Likewise, Plot No. N-1, covering 1066.66 square yards in Sector E-11, was successfully auctioned for Rs 1.24 billion.
During the second day of the auction, a hostel plot spanning 1111.11 square yards in Sector G-7/3 secured a winning bid of Rs. 706 million. Similarly, another hostel plot, also measuring 1111.11 square yards and situated in Sector G-9/4, was successfully auctioned for Rs. 604 million.
The four-day plot auction presents investment opportunities for a range of residential and commercial plots across different categories. This auction includes plots from various marakaz, the Blue Area, and the E-11 Northern Strip.
Park Enclave Commercial, Class III Shopping Centers, Agro Farms, Apartments, and Industrial plots are available for auction. Additionally, plots designated for fruit, vegetable, and meat shops, as well as I-11 markets, will be presented for bidding. Notably, this auction introduces plots allocated for hostels to the market. Furthermore, residential plots will also be up for auction during the four-day event.
The auction is under the oversight of an auction committee led by the Member Estate.
It’s worth noting that the committee has implemented effective measures to ensure the transparency of the auction. As a result, investors are enthusiastically engaging in the bidding process, securing plots of their preference.
After a rigorous assessment, the submitted bids will be presented to the CDA Board, the authority responsible for either approving or rejecting these proposals.
